Henry Schein has acquired a 70% ownership position in eAssist Dental Solutions, allowing the distributor to add an outsourced virtual dental billing platform to its portfolio.
Dr. James Anderson and Sandy Odle founded eAssist in 2011 to help dentists with billing challenges, according to a press release. Dr. Anderson will continue to manage the business as CEO along with the current eAssist management team.
eAssist uses a combination of technology and human expertise to provide outsourced insurance billing services to dental practices, freeing-up resources to focus on patient care and clinical outcomes.
In 2020, eAssist had sales of approximately $31 million. Henry Schein expects eAssist will be slightly dilutive to the company’s 2021 financial results and to be accretive thereafter. Financial terms were not disclosed.
“Henry Schein has a long-standing commitment to supporting dental practice growth, efficiency and profitability through our comprehensive offering of solutions,” said Stanley M. Bergman, Chairman of the Board and Henry Schein CEO, according to the release. “We are delighted to add eAssist to our leading portfolio of value-added services, which will help our customers improve their critical insurance and billing functions so dental teams can focus on delivering quality patient care.”
eAssist supports dental practices of all sizes through technology supported by a network of dental billing professionals. Newer offerings from eAssist include securing detailed patient eligibility information, billing certain dental procedures through medical insurance, and practice bookkeeping.
“Henry Schein represents an exceptional and complementary cultural fit as a partner for eAssist,” Dr. Anderson said, according to the release. “Through new and powerful sales, marketing and technology resources, we expect to bring the myriad of benefits from eAssist’s technology-powered service offerings to many more dental practices. Henry Schein has a clear commitment to advancing dental practice efficiency and profitability, and we believe they are the right partner to help us help even more dentists succeed.”
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