Local software company Software of Excellence International expects to have earned $8.7 million by the March 2001 end of its financial year by taking some of the pain out of dreaded trips to the dentist.
SOE’s software makes bookings easier for patients and allows dentists to record special individual treatments, implement simple CRM strategies and generate bills and claims.
It now plans to list on the stock exchange on December 15 to help fund further expansion into the UK, where its products are being used by Boots (The Chemist) for a planned 200-strong chain of branded corporate dental care providers with 50 in place by March 2001.
Just over $800,000 of the $5 million raised in the share issue will be used to buy the software practice of its main UK competitor Henry Schein Technologies.
The rest will be used for further acquisitions, market development and in exploring hosted ASP (application service provider) solutions for dentistry.
Software of Excellence was started in 1992 by brothers Paul and Brian Weatherly, who focused their software development on private dentistry practices in New Zealand and Australia and progressively overtook or bought out their DOS and Unix-based competitors.
SOE’s products are based on Microsoft. One, Exact, is an appointment and records system while another, Exdoc, is a messaging system which can text-message cellphones or email patients with notices.
Chairman Jim Syne says more than half of all local dentists now use SOE's products and over 90% of those that employ specific practice management software use SOE.
Following the acquisition of Henry Schein Technologies’ software business assets, SOE will be the largest supplier of dental software in the UK. SOE is looking to open a Singapore office in April 2001 and explore the US market.
It is soon to market an enterprise product that will target universities, international dental schools and public health organisations.
The five million shares on offer represent 24% of the company. There will be no public pool.