Renaissance Electronic Services, an Indianapolis-based tech company that provides data services to dental practices across the United States, has been acquired by Atlanta-based Vyne, the companies announced Thursday.
Terms of the agreement, which closed Jan. 31, were not disclosed.
Renaissance Electronic Services, founded in 2002 by Delta Dental Plans of Indiana, Michigan and Ohio, is one of the country’s largest processors of dental claims. The company, which processed 65 million dental claims in 2018 for more than 30,000 dentists, has about 150 employees in Indianapolis.
Vyne is a market leader in health information exchange and electronic healthcare communication management. It is owned by private equity firm The Jordan Co.
A company spokesman said Renaissance will continue to operate out of Indianapolis under its current name, but a “migration to a common Vyne brand” is likely at some point.
“We recognize the value of our existing brands and will work to preserve the legacies involved while building an even stronger core brand,” he said.
Erick Paul, 45, CEO of Renaissance and a Whiteland native, was recruited to launch Renaissance by Delta Dental. He left his job as chief marketing officer of Atlanta-based American CareSource Holdings Inc and started the company from his garage in Martinsville.
In 2016, Renaissance announced it would invest $14.9 million to expand operations across Indianapolis, investing in its five existing facilities, including three data centers, and adding a sixth facility at 2115 E. Southport Road, a former Gerdt Furniture store.
The expansion was expected to double the company’s workforce to 302 employees by 2019, but that employment growth didn’t take place.
At the time, the Indiana Economic Development Corp. offered Renaissance up to $300,000 in conditional tax credits based on the job-creation plans.
Vyne was founded in 1997 and has 110 employees, according to Inc. magazine. It has been ranked on the Inc. 5000 list of fastest-growing companies since 2008.
“Vyne and Renaissance share a common goal of empowering providers with technology solutions to better run their businesses,” said Vyne President and CEO Lindy Benton in written remarks. “Uniting our companies means we’re able to strategically offer dental practices the unique opportunity to partner with a single organization that possesses more than 50 years of combined experience developing cutting-edge dental technology solutions.”