Dion-Soft, the developer of DentalPRO MIS, raised RUB 130 million from Kama Flow and a group of co-investors.
The DentalPRO Medical Information System is a software platform for dental clinics that allows them to automate diagnostics, treatment and patient support, including the use of artificial intelligence.
The Russian developer of DentalPRO MIS (Dion-Soft LLC, a resident of Innopolis SEZ) closed an investment round for RUB 130 million. The lead investor was the investment company Kama Flow, while the Russian-Belarusian Venture Capital Fund and a group of industry-specific investors took part in the deal. Impactive Capital acted as DentalPRO's advisor in the transaction.
The investors expect that by 2027 the company will be able to take a significant share of the domestic MIS market in the private dentistry segment, the available volume of which Kama Flow experts estimate at RUB 5bn/year. International expansion could open up additional markets for the project, which could be worth more than RUB 20bn.
"The company is well positioned to seize the moment, transforming a fairly old market by creating new value across the entire value chain, from diagnostics to patient care at a time when most market players are operating on an outdated technology stack, which is difficult to transform quickly to meet the challenges of the times.
This is the fourth investment in the digital health segment for us, after closing deals with Zdorovie.ru, MVS and Celsus.ai. We see great prospects in creating an ecosystem of data reflecting the complex state of human health and will work towards creating synergies between our industry assets," comments Sergey Gaivoronsky, Investment Director of Kama Flow.
Alexander Shimansky, founder and CEO of the company: "Important drivers of MIS market growth in the Russian Federation were the regulatory requirements for dental clinics to transfer information to EGISZ and the active development of electronic document management and electronic communications with patients. Even small clinics, which make up half of the market, are forced to migrate from Excel and conventional CRM to professional solutions. Therefore, now is the best moment for a modern system to take a larger share of the additionally opening market.
Investments will be directed to the expansion of technological capabilities of the system to solve problems for dental clinics, a multiple increase in the number of subscribers, adaptation, and launch of the product on the markets of MENA countries".
DION Group of Companies includes 40 companies, including 20 clinics: a network of dental clinics, a network of aesthetic medicine clinics, a company for maintenance and sale of medical equipment, and others. The head of the group of companies is Ayrat Gabdulbarovich Galliamov, who founded DION Group of Companies in 2005 and leads it to the present day. The network of dental clinics "Exclusive-Dent", "City Dentistry", clinic of plastic and reconstructive surgery and beauty and health centres "Aesthetic-City", managed by Dion Company for more than 20 years are among the leaders in Tatarstan in providing medical services.