“Planet DDS and Apteryx offer substantial value propositions to the dental industry, which this acquisition will allow us to enhance moving forward,” stated Eric Giesecke, chief executive officer for Planet DDS.
NEWPORT BEACH, Calif. (PRWEB) August 12, 2020
Planet DDS is pleased to announce the closing of the previously announced acquisition of Apteryx Imaging Inc. Planet DDS has acquitted 100% of Apteryx Imaging In.'s outstanding common and preferred shares for CAD$0.65 per share in an all-cash transaction.
“Planet DDS and Apteryx offer substantial value propositions to the dental industry, which this acquisition will allow us to enhance moving forward,” stated Eric Giesecke, chief executive officer for Planet DDS. “Today is the beginning of a bright future for both Planet DDS and Apteryx. The entire Planet DDS family is excited to welcome Apteryx to our team.”
Founded in 2003, Planet DDS is the largest independent provider of cloud-native practice management systems to the dental industry with their Denticon software. Apteryx develops a line of award-winning imaging software technologies, including XrayVision and XVWeb, along with the VELscope oral screening device and TUXEDO intraoral sensors.
“The Planet DDS team has been instrumental in the growth of our company as a key partner for our XVWeb cloud imaging software,” stated Dr. David Gane, CEO of Apteryx Imaging. “We feel the synergies between the Planet DDS and Apteryx teams will have a very positive impact on the growth of both organizations moving forward.”
The Apteryx common shares are expected to be delisted from the TSX Venture Exchange at the close of business on or about August 13, 2020 and Apteryx will apply to cease to be a reporting issuer in British Columbia, Alberta and Ontario.
Full details of the Transaction are set out in the management information circular of the Company dated July 6, 2020 (the “Circular”). Registered Apteryx shareholders should send their completed and executed letters of transmittal and Apteryx share certificates to the depositary, Computershare Trust Company of Canada, as soon as possible in order to receive the consideration to which they are entitled to in connection with the Transaction. For those shareholders of Apteryx whose shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their shares and should follow the instructions of such intermediary or nominee.
About Apteryx Imaging Inc.
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.
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.
For more information about Apteryx, its products and services, please visit http://www.apteryx.com or call 877-278-3799.
About Planet DDS and Level Equity
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. Learn more about Denticon at http://www.planetdds.com. Planet DDS is a portfolio company of Level Equity Management, LLC ("Level Equity").
Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm has raised over $1.7 billion across a series of long term committed investment partnerships with offices in New York, NY and San Francisco, CA. For more information about Level Equity, visit http://www.levelequity.com.