Dental Intelligence Acquires Modento
The acquisition supports continued expansion of Dental Intelligence's software platform and customer base
PLEASANT GROVE, Utah--Dental Intelligence (DI), a leading dentistry analytics and workflow automation platform, today announced the acquisition of Modento, a comprehensive solution for innovative patient communications and management. The transaction will expand Dental Intelligence's product suite and position the company for continued growth.
Modento handles all administrative interaction with patients before, during, and after their appointments, thereby providing a completely automated and touchless patient communication and management experience. Specific features include Two-Way Communication, Reminders & Confirmations, Recalls, Digital Forms and Consents, Virtual Check-In, Voicemail Drops, Treatment & Payment Plans, and Team Chat.
Modento's technology will further enhance the powerful insights available through the Dental Intelligence analytics solution. With it, Dental Intelligence will drive forward with one purpose in mind – to help practices grow, ensuring that no patient or practice growth opportunity slips through the cracks.
"We are thrilled with this acquisition and I couldn't be more excited about what this means, both for our customers and for this incredible industry," said Weston Lunsford, CEO of Dental Intelligence. "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."
The dental industry is changing rapidly, largely thanks to the consolidation of practices into groups and DSO's. According to Mr. Lunsford, Dental Intelligence's analytics and AI platform was built to identify and address the challenges and needs specific to these groups while also providing the same benefits to single practices across the country.
"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," Mr. 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, and the entire team will be joining DI to help execute on the commitment to help dental practices grow. "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 accelerates our trajectory to deliver the intelligent, intuitive, and robust software product that the dental industry has been waiting for."
This is the second acquisition for Dental Intelligence within the last 18 months, with LocalMed Online Scheduling having been acquired in August of 2019. The transaction is supported by Dental Intelligence's shareholders - PSG, a leading growth equity firm partnering with middle-market software and technology-enabled service companies, Blue Star Innovation Partners, a growth equity investment firm, and K1 Investment Management, a leading investment firm focusing on high-growth enterprise software companies.
Financial terms were not disclosed.