Dental Intelligence, a provider of practice management and workflow automation platform for the dental industry, announced the acquisition of Modento, a patient engagement platform for dental care providers.
Financial terms were not disclosed. The acquisition was supported by Dental Intelligence’s shareholders PSG, a growth equity firm; Blue Star Innovation Partners, a growth equity investment firm; and K1 Investment Management, an investment firm that invests in software companies.
Weston Lunsford, CEO of Dental Intelligence, said: “Our analytics and online scheduling technologies combined with Modento’s patient engagement and communications will help practices provide more and better dentistry to their patients, especially to those who need it the most.”
Modento solution handles all of the administrative patient interaction before the appointment, during the appointment, and after the appointment, the company said. This is the second acquisition by Dental Intelligence in the last 18 months, with LocalMed Online Scheduling acquired in August 2019.
“With this acquisition, we believe that our cloud-based tech and unparalleled user experience will ensure that each of our customers’ locations are managed consistently and efficiently while maintaining the highest level of compliance,” Lunsford continued. “That, in turn, will drive increased production and EBITDA. It’s the final piece of the software puzzle for any practice or DSO.”
Karol Jasik, CEO of Modento, said: “We are beyond excited to join forces with the DI team as they embody the values that Modento holds dear,” said Karol. “These shared values – technological innovation, stellar customer service, and the best possible user experience – have helped our company get where we are today. Combining forces with DI accelerate our trajectory to deliver the intelligent, intuitive, and robust software product that the dental industry has been waiting for.”
A total of 184 digital health companies were acquired in 2020, compared to 169 in 2019, a 9% increase in M&A activity year-over-year, according to Mercom’s Q4 and 2020 Digital Health Funding and M&A Report. Recently, Vytalize Health, a value-based healthcare provider, acquired MedPilot, a digital patient engagement platform. Intrado, a provider of cloud-based software solutions, acquired Asparia, a provider of patient engagement solutions for health systems, hospitals, and medical practices.