Renaissance Life & Health Insurance Company of America announced it has reached an agreement to acquire Dentist Direct and its affiliate Direct Access. TAG Financial Institutions Group, LLC represented the Sellers in the transaction.
INDIANAPOLIS, Nov. 9, 2021 /PRNewswire/ -- Renaissance Life & Health Insurance Company of America, a national insurance carrier specializing in dental, vision, life and disability coverage today announced it has reached an agreement to acquire Dentist Direct, a Utah-based dental and vision insurance carrier, and its affiliate Direct Access, a discount dental plan provider. With a shared white-glove service philosophy of delivering an outstanding benefits experience by the companies, the acquisition will fuel expansion opportunities for all three organizations.
"This acquisition is an important step in our strategic growth at Renaissance, because it not only broadens our geographic presence in the western U.S., but also augments our dental network, and strengthens our team with the addition of an exceptional group of smart, like-minded professionals," said Robert P. Mulligan, President and Chief Executive Officer of Renaissance.
"Through creativity, agility and a commitment to doing what is right for their partners and members, Dentist Direct has rapidly grown from a start-up to a strong regional carrier, specializing in dental and vision insurance," said Jeff Kolesar, Chief Operating Officer of Renaissance, who will assume responsibilities as Chief Executive Officer of Dentist Direct. "Renaissance will help Dentist Direct add more value for customers by offering complementary coverages such as life and disability insurance," he added.
Beyond the change in ownership, Dentist Direct will continue to operate with the same dedicated team, delivering exceptional products and services. The company also has developed a proprietary local dental network, which will remain in place. In addition, Dentist Direct plans offer more than 260,000 dental access points nationwide. Founded in 2005, Dentist Direct now serves more than 60,000 members.
President of Dentist Direct, Preston Homer echoed excitement about the synergies the companies share. "While Renaissance is significantly larger than Dentist Direct and offers opportunities for us to grow our product offerings beyond dental and vision insurance in the future, the company understands the importance and value of maintaining a local presence," said Homer. "Their approach to providing a flexible, friendly experience for customers of every size is perfectly aligned with our service model."
Renaissance provides innovative product features and unique solutions that help customers experience better overall health, while enjoying easy-to-manage benefits and competitive pricing. Renaissance has received an A (Excellent) Financial Strength Rating from AM Best.
About Dentist Direct
With its headquarters in Bountiful, Utah, Dentist Direct is a dental benefits company with a robust national network and a commitment to personalized service. The company offers dental and vision benefits and specializes in small and large group fully insured plans, ASO (self-funded) plans and network leasing for TPAs and large employer groups.
Renaissance Life & Health Insurance Company of America and its sister company Renaissance Life & Health Insurance Company of New York offer ancillary benefits for employer groups and individuals nationwide. Dental, vision, life and disability insurance comprise the core line of the company's ancillary benefits solutions. With headquarters in Indianapolis, Ind., Renaissance is focused on providing its members and partners with outstanding products and service.
This Post is for informational purposes only and does not constitute an offer, invitation or recommendation to buy, sell, subscribe for or issue any securities. While the information provided herein is believed to be accurate and reliable, TAG Financial Institutions Group, LLC and Ashland Securities, LLC make no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. All information contained herein is preliminary, limited and subject to completion, correction or amendment. It should not be construed as investment, legal, or tax advice and may not be reproduced or distributed to any person. Certain Principals of TAG Financial Institutions Group, LLC are registered representatives of Ashland Securities, LLC Member FINRA, SIPC. TAG Financial Institutions Group, LLC and Ashland Securities, LLC are separate and unaffiliated entities. Securities and Investment Banking Services are offered through Ashland Securities, LLC.
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