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Apteryx Imaging Inc. has been acquired by Planet DDS, a portfolio company of Level Equity Management, LLV pursuant to which the Planet DDS subsidiary will acquire 100% of the company’s outstanding common and preferred shares for CAD$0.65 per share in an all-cash transaction.
Founded in 1995, Apteryx has provided dentists and oral health specialists with advanced diagnostic imaging software and device technologies for over 20 years. Apteryx’s proprietary technologies include XrayVision, XVWeb and XrayVision DCV imaging software solutions, the VELscope Vx Enhanced Oral Assessment and TUXEDO Intraoral Sensors.
“We believe this transaction represents an excellent outcome for Company shareholders. Planet DDS has been a growing and valuable distribution partner for the Company’s XVWeb software platform for several years. After a thorough review by an independent special committee of our board of directors, whose mandate was to review our strategic options, capital needs, capital structure and future strategic direction of the Company, we concluded that the combination with Planet DDS would provide the capital, management and clarity of focus to optimize the growth and performance of Apteryx and offers compelling value for our shareholders.” -Avi Naider, Apteryx Executive Chairman of the board of directors
Founded in 2003, Planet DDS is the largest independent provider of cloud-native practice management software to the dental industry. The company’s flagship product, Denticon, is the only proven, time-tested software offering that was built from the ground up for multi-location groups in the cloud. Denticon has the largest footprint among emerging and established dental groups of any cloud software provider, allowing clients to break free from the constraints of desktop software with a comprehensive solution that includes the tools needed to standardize, centralize, and grow. All while reducing IT cost and enhancing security.
Backed by an experienced leadership team and dedicated to a higher level of service and support, Apteryx is committed to providing dental practitioners with the best technology available by identifying and adding leading products to its growing portfolio.
“We’ve built a very special relationship with Apteryx over the past decade. One of our first and most important partners, Apteryx is the gold standard in dental imaging. Their value proposition to the growing DSO market mirrors that of our best-in-class cloud-based practice management software, Denticon. We’re excited to welcome the team at Apteryx to the Planet DDS family, and to further enhance the unique value proposition for our customers.” – Eric Giesecke, CEO, Planet DDS
Ways this acquisition will positively impact multi-site and DSO customers:
- Apteryx and Planet DDS provide enterprise cloud-based solutions tailored to the needs of multi-site dental groups and DSOs.
- Apteryx and Planet DDS have a long-standing partnership in the market and have enjoyed both complimentary cultures and products/services
- Synergies created from tighter integration between Denticon and XVWeb cloud services will create workflow, data accessibility and economic efficiencies derived from creation of a more seamless user experience for current Denticon / XVWeb users
- Integrated / coordinated development and customer care teams will provide a one stop shop for customer support experience and facilitate accelerated product evolution driven by voice of customer and user stories
- Having the financial strength of Level Equity will allow the combined entity to invest more aggressively in growth as well as innovative solutions leveraging Apteryx data Deep Machine Learning / Artificial Intelligence, to assist customers with the provision of decision support tools and services.
“Planet DDS has been our most productive cloud partner and instrumental in our overall growth. Our combined cloud software offerings are highly synergistic with proven market appeal and acceptance, especially among Dental Support Organization practices. I look forward to working with Eric and the Planet DDS team and participating in their future success.” -Dr. David Gane, CEO, Apteryx
What new advancements should customers expect?
- Deep Machine learning and Artificial Intelligence modules which will take advantage of both patient image and chart data to provide decision support tools to improve diagnostic image quality and facilitate diagnosis and treatment decisions.
- Radiographic Quality Assurance (QA) module to provide dashboard driven ad hoc reports detailing overall radiographic quality score while detailing common errors related to image acquisition errors and imaging device health.
- Caries diagnostic decision support using AI to identify areas of potential lesions to aid in clinical diagnosis
- Long-term plan to look at ways that AI can further improve the user experience in Denticon, possibly by automatically charting / documenting of pre-existing conditions.
- 3D Support for CBCT DICOM and Intra Oral Scanner (IOS) files
- Secure image file share to Laboratory and Radiology services allowing users access to communicate directly and securely with laboratories and radiology services providers.
Will Apteryx continue to be sensor agnostic?
- Yes, they will remain imaging device agnostic. The use of standard open nonproprietary file formats and working with all device manufacturers is ingrained in their culture. It is their commitment to continue to provide software and services that are compatible with all FDA approved sensor manufacturers
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