LED Medical Diagnostics Inc. (“LED” or the “Company”) (TSX-V: LMD) is pleased to announce that it has entered into a definitive purchase agreement to acquire 100% of Apteryx, Inc. (“Apteryx”). Apteryx is a profitable, software development company with well-established applications for the dental imaging market with strong brand recognition across the dental industry, including the United States armed forces, United States Government agencies and Dental Universities. LED expects this transaction to be immediately accretive, allowing the Company to reach profitability prior to the end of 2017. The Company expects the transaction to be closed in the first quarter of 2017, subject to financing and regulatory and other approvals customary for a transaction of this nature. Apteryx was founded by Kevin Crucs in 1995. It has 18 employees and is headquartered in Akron, Ohio.
About Apteryx, Inc.
Apteryx, Inc. was founded in 1995 to create and develop software applications and systems that are leading products in their respective industry segments. Apteryx’s products include XrayVision and XVlite, an imaging suite of applications that digitize x-rays and other images for dental practitioners; XrayVision DCV DICOM software for the institutional dental market; XVWeb, a cloud-based PACS and DICOM server; and other Windows-based applications and utilities. For additional information visit the Apteryx web site at www.apteryx.com
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Vancouver, British Columbia, Canada, LED Medical Diagnostics Inc., through its wholly-owned subsidiaries LED Dental Inc. and LED Dental Ltd., provide dentists and oral health specialists with advanced diagnostic imaging products and software, in addition to the award-winning VELscope® Vx tissue fluorescence visualization technology. Backed by an experienced leadership team and dedicated to a higher level of service and support, LED Dental is committed to providing dental practitioners with the best technology available by identifying and adding leading products to its growing portfolio.
Another dental company was recently acquired: Henry Schein Acquires Dental Cremer S.A.