Phase 1 Equity DSO Appoints Kristen Cusack as the New CEO

Cusack brings 25+ years of business growth experience to the CEO role

Chicago, IL – Kristen Cusack joins Phase 1 Equity as Chief Executive Officer effective October 1, 2022. Phase 1 Equity is a new kind of Dental Services Organization (DSO) model, putting doctors’ financial futures first by sharing the inside world of private equity with doctor members to optimize EBITDA and elevate each practice to its full potential.

With more than 25 years of experience in multi-site healthcare, Cusack has spent her career leading high-performing teams and implementing successful growth strategies.

As an executive-level leader for the past 15 years, Ms. Cusack helped organizations identify growth opportunities and scale for maximum potential. Her experience spans large and small organizations in multiple healthcare service sectors, including Golden Living, Adeptus Health, and AccentCare. Cusack also founded a successful consulting practice and has deep experience in both large and small private equity transactions, helping organizations optimize during sale and transition.
“Kristen’s deep experience will provide the strategic vision to accelerate the organization into the next phase of growth,” said Ryan Graham, co-founder of Phase 1 Equity and managing partner at DuneGlass Capital, which supports Doctor Equity™ growth DSOs like Phase 1 Equity. “Kristen is well-poised to lead Phase 1 Equity as it continues to build a world-class doctor-centric organization that alleviates the burden of independent practice, while leveling the playing field to get doctors better economics.”

Created by a team of orthodontists, pediatric dentists, private equity, and management consulting professionals, Phase 1 Equity was designed for entrepreneurial doctors who want a better future for their patients and their practices.

“The Phase 1 Equity model appeals to me because we are keeping the doctors in the center of the operation,” said Cusack. “Building a successful private equity model together with our doctors, while enabling our doctors to retain so much value and local control of their operations are huge differentiators.”

About Phase 1 Equity

Phase 1 Equity is a doctor-owned, doctor-led private equity firm for orthodontists and pediatric dentists. Our Doctor Equity™ model puts doctors’ futures first by bringing together best-in-class, like-minded orthodontic and pediatric dental practices for collective power. Phase 1 Equity exists to share the inside world of private equity with our doctor members to help optimize their EBITDA and realize their practices’ full potential. Learn more at

About DuneGlass Capital

DuneGlass Capital was founded to help healthcare companies realize their full potential. With a combined three decades of experience including multi-unit operations, private equity deal structuring, and healthcare business strategy, the founders of DuneGlass Capital have created a repeatable process for value creation and help doctors across medical and dental specialties turn private equity into Doctor Equity™. As sons of physicians, they understand how important it is to mentor their clinical shareholders in private equity to maximize the intrinsic value of the practices. Contact DuneGlass Capital at to learn more about how they can enhance the value of your practice or visit

Read the press release on AccessWire here.

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