PracticeTek Appoints Steve Auerbach as New Chief Executive Officer

PracticeTek, a leading provider of software, payments and billing solutions to the retail healthcare market, has announced that Steve Auerbach has been named Chief Executive Officer, effective May 1, 2024. Steve has served as the Chairman of the Board since October 2023.

Steve brings more than 30 years of healthcare experience, having most recently served as the CEO of Alegeus, a leading benefit administration platform in consumer directed healthcare and a former Lightyear Capital portfolio company. Prior to Alegeus, Steve was the President of Connextions, a leading member acquisition platform for the nation's top health plans acquired by OptumHealth in 2011, and held senior leadership positions with UnitedHealth Group, ChannelPoint, and Cigna.

"I am thrilled to accept the role as Chief Executive Officer of PracticeTek," said Steve Auerbach. "In my role as Chairman of the Board, I have developed a deep passion for our team and conviction around our tremendous opportunity ahead to revolutionize the retail healthcare industry. I look forward to working closely with the PracticeTek team to create an industry-leading platform for our customers."

"We are excited to have Steve join PracticeTek as Chief Executive Officer," said Michal Petrzela, Managing Director at Lightyear Capital, which owns majority stake in the Company. "We have known Steve for more than a decade dating back to our partnership with him as CEO of Alegeus and more recently as an Operating Partner at Lightyear. We are confident in Steve's leadership and proven track record of building industry-leading organizations. We look forward to working closely with him through PracticeTek's next phase of growth."

In his position, Steve will oversee revenue growth, day-to-day operations, and all aspects of organizational management. With an extensive background in transformational leadership that spans the healthcare, insurance, and financial services industries, Steve boasts a record of notable achievements and attention to increased customer success.

Michael Langer, Managing Director at Lightyear, added, "Steve brings strong consumer directed healthcare experience, which is critical to understanding the needs of PracticeTek's retail healthcare providers from patient engagement to care delivery, billing, and payment. We are pleased to welcome Steve and are confident that his experience will enable him to build off PracticeTek's strong foundation to significantly grow the company."

About PracticeTek

PracticeTek is a leading provider of comprehensive healthcare technology solutions for retail healthcare clinics. We offer end-to-end software products and services that help clinics improve efficiency, streamline workflows, and deliver better patient care. We serve Chiropractic, vision care, dental care and wellbeing practitioners across the country. We are committed to innovation and continuous improvement and are constantly working to develop new and better ways to help our clients succeed. For more information, visit PracticeTek.com.

About Lightyear Capital

Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, healthcare, and business services. For over 20 years, Lightyear has worked closely with management and leveraged its industry expertise, network of advisors, and operating resources to accelerate growth and build market leading businesses. As of December 31, 2023, the firm had assets under management of $5.0 billion. For more information, please visit http://www.lycap.com.