06 July 2023

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HighFive Healthcare secures $100M investment to fuel oral surgery, endodontic practices

Paola Omini

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HighFive Healthcare, a specialty dental partnership organization focused on endodontics and oral surgery, announced on June 21 that they have closed a $100 million growth investment led by Norwest, a venture capital and growth equity investment firm. 

Norwest General Partner Dr. Ryan Harris and dental services industry veteran David Willens will join the company’s board of directors, according to the news release. The strategic investment and partnership will enable HighFive to continue its rapid growth across the southeast U.S. and beyond. HighFive doctors and management, Krowten Capital, LLC and Jemison Investment Co., Inc., also participated in the round. 

HighFive experienced rapid growth in 2022, doubling its practice size through the acquisition of partnering practices and organic growth, and this momentum has continued in 2023. 

From 2021 to 2022, HighFive’s headcount increased by 142% and annual revenue increased by 150%. As specialty dental practices continue to consolidate across the country, HighFive is well-positioned to continue its positive trajectory.

HighFive Healthcare CEO and founder Chad Trull said in the news release that the partnership with Norwest will strengthen the company’s ability to support industry-leading specialists in providing the highest quality patient care. 

“Norwest shares our collective belief that high-quality patient care starts with supporting the best doctor partners and teams across the country and has an established track record of building leading brands and businesses,” he said. 

Dr. Ryan Harris, general partner at Norwest, acknowledged HighFive clinicians and corporate team’s dedication to providing outstanding patient care. 

“Together we are dedicated to developing partnerships with the country’s most talented, driven specialty dentists while maintaining HighFive’s patient-centered culture,” he said. 

“The transparency and culture of HighFive are unmatched,” said HighFive partner Dr. David Roden, DMD, MD, in the news release. 

“We are doing this totally differently. It is incredible to have the opportunity to own and manage a business of this scale, keep clinical autonomy and watch the financial successes of all my partners and peers.” 

About HighFive Healthcare

HighFive’s partnership philosophy is simple: take care of your patients, and HighFive will handle the rest. HighFive is an elite group of oral surgeons and endodontists and is majority doctor owned. This is not your typical DSO Model. The collaboration between the best surgeons, doctors, and management team members elevates private practice with scale and optimization and maximizes the success of the partnership.

HighFive’s goal is for every patient to have an exceptional experience in each of its practices. HighFive’s transparent, fun, and collaborative culture creates an innovative approach to operations, quality, and buying power. The company, founded in 2018, is headquartered in Birmingham, Alabama, and was named a 2023 Best Place to Work by the Birmingham Business Journal.

About Norwest

Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise, and healthcare.

The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses.