Phase 1 Equity
Phase 1 Equity is a doctor-owned private equity platform serving orthodontic and pediatric dental practices, offering a Doctor Equity™ model where doctors retain practice ownership while preparing for a collective future exit at 2-3x traditional DSO multiples.
- Company typePrivate
- Founded2019
- HeadquartersChicago, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Phase 1 Equity does
Phase 1 Equity is a doctor-owned, doctor-led, and doctor-governed private equity platform serving orthodontic and pediatric dental practices in the United States. Founded in 2019 in partnership with DuneGlass Capital and headquartered in Chicago, the company operates a proprietary Doctor Equity™ model in which doctors retain 100% ownership of their individual practices while becoming co-owners of the platform. The platform's central proposition is to prepare member practices for a future collective private equity sale, targeting 2-3x the value doctors would receive in a traditional DSO transaction and approximately 90% of proceeds retained by doctors, versus roughly 50% in conventional DSO structures. Governance is structured around a doctor-majority board of directors and 100% doctor-chaired management committees.
The company's underlying technology is not AI- or SaaS-centric; it is a service-and-governance platform augmented by practice management tools, KPI benchmarking systems, KPI data feeds (comparing member practices to thousands of high-performing practices nationwide), digital marketing resources, and emerging AI-powered data analysis tools. Core service offerings include monthly bookkeeping, payroll processing, HR services, supply procurement and vendor management, financial consolidation across the network, and a doctor collaboration network for best-practice sharing. Product surface area also includes marketing consulting, referral support, and business development strategy.
Phase 1 Equity's business model is a recurring subscription-style revenue stream: member practices contribute 4% of their monthly collections to the platform in exchange for Stage 1 practice optimization, EBITDA preparation, platform infrastructure, and collective Stage 2 sale preparation. Go-to-market is sales-led, executed through confidential one-on-one conversations with senior team members or doctor board members, followed by customized EBITDA analysis and valuation walkthroughs targeting mid-market orthodontic and pediatric dental practices. As of May 2026, the platform had grown to 21 doctors across 31 locations in at least seven U.S. states (Texas, Ohio, New Jersey, California, Pennsylvania, Louisiana, Tennessee), with stated plans to enter the pediatric dentistry segment within the coming year.
Phase 1 Equity firmographics
Firmographics- Name
- Phase 1 Equity
- Legal name
- Phase 1 Equity
- Website
- https://phase1equity.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Phase 1 Equity is a doctor-owned private equity platform serving orthodontic and pediatric dental practices, offering a Doctor Equity™ model where doctors retain practice ownership while preparing for a collective future exit at 2-3x traditional DSO multiples.
- Ownership category
- akta.pro rank
Phase 1 Equity industry classification
Industry- Product category
- Dental Practice Management
- NAICS
- Trusts, Estates, and Agency Accounts (52592)
- SIC
- Investors, Nec (6799)
- akta.pro primary industry
- Healthcare & Life Sciences Growth Equity (FSANACAB)
- akta.pro secondary industry
- Family/Founder Succession Buyout (FSANABAK)
Keywords
Where Phase 1 Equity is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Phase 1 Equity business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Practice Membership/Contribution Fees: Phase 1 Equity generates revenue through a 4% monthly collections contribution from member practices. This fee provides access to practice optimization services, EBITDA preparation, platform infrastructure, and collective sale preparation. Practices retain full ownership during Stage 1 while optimizing EBITDA, with the collective sale to private equity planned for Stage 2.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Single contribution rate of 4% of monthly collections |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Phase 1 Equity product offering
Product offeringCore offering
Phase 1 Equity is a doctor-owned, doctor-led, and doctor-governed private equity partnership platform serving orthodontists and pediatric dentists. Doctors retain 100% ownership of their individual practices while becoming co-owners of the platform, paying a 4% monthly collections contribution in exchange for EBITDA optimization services, shared back-office support, benchmarking tools, and preparation for a collective future private equity sale that delivers 2-3x the value of a traditional DSO transaction.
Product overview
Phase 1 Equity is a doctor-owned, doctor-led, and doctor-governed orthodontic and pediatric dentistry platform that operates through its proprietary Doctor Equity™ model. Unlike traditional DSOs that acquire practices, Phase 1 Equity partners with doctors who retain 100% ownership of their practices while gaining access to practice optimization services, EBITDA improvement tools, practice analytics and benchmarking, digital marketing support, and a collaboration network. The platform prepares member practices for a collective private equity sale, with doctors receiving approximately 90% of proceeds compared to traditional DSO models. The company provides shared services including bookkeeping, payroll, HR, supply procurement, and financial consolidation, alongside practice-specific benchmarking against thousands of high-performing practices nationwide.
Differentiator
Problem solved
Functional benefit
Products and services
- Doctor Equity™ Model
- Practice EBITDA Optimization Services
- Practice Analytics and Benchmarking
- Digital Marketing and Patient Engagement
- Doctor Collaboration Network
Quantifiable outcome
- Doctors receive 2-3x more value for their practice compared to traditional DSO sale
- +4 more outcomes
Companies that use Phase 1 Equity
Customer profileNamed customers8 records
Segments2 records
Ideal customer profiles2 records
Phase 1 Equity technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Phase 1 Equity partnerships and signals
Strategic signalScale indicators6 records
Recent moves7 records
Expansion highlights6 records
Phase 1 Equity competitors and assessment
Company assessmentDirect peers
- MB2 Dental Partners: MB2 Dental is a dentist-owned dental partnership organization backed by private equity (Charlesbank). It is the closest analog to Phase 1 Equity's doctor-partnership model, sharing the philosophy of doctor ownership and shared services while operating at much larger scale across multiple specialties.
- Western Dental & Orthodontics: Western Dental is a large DSO with significant orthodontic and pediatric dentistry exposure. It is one of the most direct specialty competitors to Phase 1's orthodontic focus and an active consolidator in the same geographies.
Broad incumbents
- Heartland Dental: Heartland Dental is the largest dental support organization in the U.S., supporting thousands of dentist offices. It is the dominant incumbent in the DSO space and represents the traditional model Phase 1 Equity's Doctor Equity model is positioned against.
- Aspen Dental Management: Aspen Dental is one of the largest branded DSOs in the U.S., supporting hundreds of practices across general dentistry and specialties. It exemplifies the traditional DSO acquisition model that Phase 1's value proposition directly contrasts with.
- Pacific Dental Services: Pacific Dental Services (PDS) is one of the largest DSOs in the U.S., founded and led by dentists. It serves as both a competitor for high-quality practices and a likely candidate as a future acquirer of Phase 1's platform.
- Smile Brands: Smile Brands is a large PE-backed DSO supporting hundreds of affiliated dental offices across multiple states. It competes for the same mid-market orthodontic and dental practice acquisitions Phase 1 targets.
- Great Expressions Dental Centers: Great Expressions is a large multi-specialty DSO owned by private equity. It competes for practice acquisitions in overlapping geographies and represents an established consolidator in the specialty dental market.
- Dental Care Alliance: Dental Care Alliance is a PE-backed DSO supporting hundreds of dental practices across the U.S. It is a likely competitor for member practices and a potential acquirer of the Phase 1 platform at Stage 2.
Emerging players
- 42 North Dental: 42 North Dental is a dentist-owned DSO operating primarily in the Northeast. It shares Phase 1's doctor-centric philosophy at greater scale and is a comparable emerging consolidator in specialty dental.
- Affordable Dentures & Implants: Affordable Dentures & Implants is a specialty-focused dental platform that has been rolled up under PE ownership. It represents the specialty dental consolidation archetype that Phase 1 Equity's orthodontic platform mirrors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Phase 1 Equity social profiles
Digital presencePhase 1 Equity financial estimates
Financial estimateRevenue estimate
Valuation estimate
Phase 1 Equity leadership team
Management profileNumber of profiles
Profiles8 records
Phase 1 Equity funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Phase 1 Equity M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Phase 1 Equity
What does Phase 1 Equity do?
Phase 1 Equity is a doctor-owned, doctor-led, and doctor-governed private equity partnership platform serving orthodontists and pediatric dentists. Doctors retain 100% ownership of their individual practices while becoming co-owners of the platform, paying a 4% monthly collections contribution in exchange for EBITDA optimization services, shared back-office support, benchmarking tools, and preparation for a collective future private equity sale that delivers 2-3x the value of a traditional DSO transaction.
Is Phase 1 Equity a public or private company?
Phase 1 Equity is a private company. It is classified as management employee owned and is currently operating.
When was Phase 1 Equity founded?
Phase 1 Equity was founded in 2019. It employs 1 to 10 people.
Where is Phase 1 Equity based?
Phase 1 Equity is headquartered in Chicago, United States, in the North America region.
How does Phase 1 Equity make money?
One revenue line is on record: practice Membership/Contribution Fees.
Who are Phase 1 Equity's main competitors?
Direct peers on record are MB2 Dental Partners and Western Dental & Orthodontics. Broad incumbents are Heartland Dental, Aspen Dental Management, Pacific Dental Services, Smile Brands, Great Expressions Dental Centers and Dental Care Alliance. Emerging players are 42 North Dental and Affordable Dentures & Implants.
Does Phase 1 Equity have an API?
No public API is recorded for Phase 1 Equity.
What industry is Phase 1 Equity in?
Phase 1 Equity's product category is Dental Practice Management. Its primary akta.pro industry code is FSANACAB, Healthcare & Life Sciences Growth Equity, with a secondary code of FSANABAK, Family/Founder Succession Buyout. Its NAICS code is 52592 and its SIC code is 6799.