The improvement of the quality of health care, especially dentistry and oral health care, has been directly related to the rapid advancement of technology. With today’s dental practitioners having a number of diagnostic and imaging options, the challenge now is in keeping up with the speed of innovation while complying with new standards of patient care.
LED Medical Diagnostics Inc.’s (LMD:CA) is one company striving to lead this space by providing dental practitioners with the best technology for early detection of oral abnormalities in their patients. This played a major role in LED Medical’s recent decision to pursue a strategic acquisition of a profitable technology company. The name of the acquisition target has yet to be disclosed.
According to the company, “the acquisition is at arm's length and would not represent a reverse takeover of LED Medical or a fundamental acquisition under TSX Venture Exchange policies, and no change of control of LED Medical will result from the acquisition.”
If the proposed plan is completed, the purchase would significantly bolster LED Medical’s revenues and intellectual properties. The technology company is said to fit LED Medical’s current business model, and also provides a platform that allows LED Medical to achieve their strategic, long-term business objectives. Luckily, these goals include providing dentists with advanced tools with life-saving capabilities.
Toronto-based investment bank Bloom Burton & Co. Limited has been approached by LED Medical to act as financial advisor during the acquisition. Bloom Burton & Co provides a number of financial services within the health care sector, including raising capital and serving as merger or acquisition advisory.
The Business of Saving Lives
Through its wholly-owned subsidiaries LED Dental Inc. and LED Dental Ltd, LED Medical provides dentists and oral health specialists with advanced diagnostic imaging products and software. Based in Burnaby, British Columbia, the company’s award-winning FDA approved VELscope® Vx Enhanced Oral Assessment Systemis currently used by 12,000 dental practitioners in 23 countries. VELscope® Vx is commonly used to detect oral cancer and pre-cancer, and bacterial infections.
In June, Equities.com had the opportunity to speak with David Gane of LED Medical to learn more about
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