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Apteryx Imaging to be acquired by Planet DDS. With the transaction, the largest independent provider of cloud-native practice management software to the dental industry expands.
Apteryx Imaging Inc., has announced that it has entered into an arrangement agreement with PDDS Buyer, LLC, (Planet DDS), a portfolio company of Level Equity Management, LLC, pursuant to which a Planet DDS subsidiary will acquire 100% of the Company's outstanding common and preferred shares. The price per share implies an aggregate equity value for Apteryx-a Vancouver, British Columbia-based provider of diagnostic imaging software and device technologies to dentists and oral health specialists-of approximately CAD$39.0 million.
"We believe this transaction represents an excellent outcome for Company shareholders," says Avi Naider, Apteryx Executive Chairman of the board of directors. He adds, "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."
"Planet DDS has been our most productive cloud partner and instrumental in our overall growth," states Apteryx CEO Dr. David Gane. "Our combined cloud software offerings are highly synergistic with proven market appeal and acceptance, especially among Dental Support Organization (DSO) practices. I look forward to working with Eric and the Planet DDS team and participating in their future success."
"We've built a very special relationship with Apteryx over the past decade," comments Planet DDS CEO Eric Giesecke. "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."
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.
For more information about Apteryx, its products and services, visit apteryx.com or call 877- 278-3799.
Planet DDS’ flagship product, Denticon, is described as 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.
Learn more about Denticon at planetdds.com.