Experienced Healthcare Operator Joins Parkview Board to Drive Strategic Growth and Value Creation Program
NEW YORK, Jan. 17, 2024 /PRNewswire/ — Private equity firm Cathay Capital has appointed Rene Sauerteig as an Operating Partner and to the board of directors of Parkview Dental Partners, a dental service organization (DSO) in the Cathay Capital portfolio. Sauerteig, a healthcare industry veteran with over two decades of experience in executive leadership roles, brings expertise in scaling rapid growth and optimizing operational performance in PE-backed healthcare organizations.
Founded in 2018, Sarasota-based Parkview currently manages 22 dental practices that provide both general dentistry and specialty dental services. The company operates in the dynamic Southwest Florida market, characterized by population growth at 3x the national average, an aging population with higher dental care needs, and robust GDP growth. Cathay Capital announced its investment in Parkview in November 2023.
Sauerteig joins the Board of Parkview as the company looks to continue its growth trajectory to become a market-leading DSO in the Southeast. Since 2019, Parkview has expanded from eight practices to 22 practices today, growing revenue at a 50% CAGR through organic initiatives and accretive acquisitions. In his new role, he will support Parkview’s existing management in steering the company’s strategic planning process, advising its management and board on strategic initiatives, and supporting the evaluation of and integration of add-on acquisitions.
Sauerteig’s career is marked by his leadership and strategic acumen as a healthcare industry veteran, having led several healthcare enterprises. He managed a team of over 3,000 members across 130+ clinics and a $300 million P&L as President and COO at Benevis. Sauerteig also developed the Specialty lines of dentistry at Benevis into a $100 million line of business. As COO of Southeast Primary Care Partners, he doubled the size of the company in just over a year while driving visits, revenue per visit, and clinic margins. Sauerteig has also worked as an independent consultant for top-tier private equity firms across various multi-unit healthcare organizations.
“We are delighted to welcome Rene as a Cathay Operating Partner and to the Parkview team,” said Mark Woods, Partner and Head of North American Private Equity at Cathay Capital. “His exceptional leadership and experience in healthcare services make him a valuable addition to driving growth and value creation in Parkview. As we deepen value creation initiatives at our portfolio companies, partnering with operating partners like Rene enhances our ability to support management teams and drive successful investment results.”
Rene Sauerteig commented on his appointment: “I am excited to join Cathay Capital as an Operating Partner and look forward to contributing to Parkview’s exciting trajectory, led by Parkview CEO Will Schlotthauer. With its focus on providing clinically excellent care and a great patient experience, the Company is on its way to becoming the market-leading DSO in the Southeast. Cathay Capital’s partnership approach and expertise in scaling companies align perfectly with my passion for driving growth and fostering transformative change in the healthcare sector.”
About Cathay Capital
Cathay Capital is a global private equity and venture capital investment firm supporting healthcare, technology and consumer companies throughout North America, Europe, and Asia. The firm helps middle-market companies and startups navigate opportunities for growth, international expansion, and sustainable transformation. Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its platform connects people with global reach and local expertise – from investors and entrepreneurs to management teams and leading corporations – to share knowledge, and the tools to scale and to transform businesses.
Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages more than $5.5 billion in assets. It has made over 250 investments from offices in Paris, New York, San Francisco, Munich, Berlin, Madrid, Shanghai, Beijing, Shenzhen, and Singapore. For more information, visit: www.cathaycapital.com.
About Parkview
Parkview is a dentist-founded dental growth & management partnership that is decidedly different from corporate DSOs. Based in Sarasota, Florida, our mission is to support like-minded dentists who want to focus on providing clinically excellent care and a great patient experience, while we provide the highest level of operational support and opportunities for professional growth. For more information visit: www.parkviewdp.com
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SOURCE Cathay Capital