Two companies developing new dental imaging technologies, Lantis Laser and Perio-Imaging, have announced plans to merge.
The proposed merger would be an all stock transaction, and the closing would be subject to raising the required funding to complete the proposed merged company's product development program, Lantis said. The name of the new merged company will be announced upon closing.
Lantis Laser has licensed rights to optical coherence tomography (OCT) and near-infrared transillumination imaging technology for detecting decay and microstructural defects in teeth. Both modalities are light-based and do not emit harmful radiation, Lantis said. OCT has been used in ophthalmology for many years. FDA clearance for cardiovascular imaging was recently granted to a Lantis Laser licensor.
Perio-Imaging has developed an ultrasound device, the Perio-Imager, for diagnosing a patient's periodontal condition. The Perio-Imager is intended to provide a quicker, easier, and more accurate method of measuring pocket depths than probing. The company plans to market the device to general dentists who could retain patients they would otherwise refer to periodontists.
The Perio-Imager is in the final stages of development, and the company expects to charge less than $3,000 for the device. However, Perio-Imaging plans to charge a usage fee for each patient exam.
The merged company expects to generate higher overall revenues, which will now include a "recurring component" from the usage fees, Lantis said. This could help attract investment, according to the companies.
"We firmly believe that there are strong synergies between the respective companies' technologies which could be sold in an integrated chairside platform or as standalone devices," said Stan Baron, president and CEO of Lantis, in a press release.
He added that the new company will also benefit from synergies in senior management, operations, and marketing, as well as access to a new dental advisory board.
"We believe that the combined company will offer a very attractive business model with a diverse set of technologies and quicker time to market," said Barry Berman, president and CEO of Perio-Imaging, in the release.
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