Ping An Voyager Fund Leads Investment in PlusDental to Enhance Modern Dentistry in Europe
HONG KONG and SHANGHAI, May 29, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx:2318; SSE:601318) is delighted to announce that its fintech and healthtech investment arm Ping An Global Voyager Fund has invested in digital dentistry platform PlusDental in its series C funding of EUR32 million. This investment aims to boost innovation of digital dentistry in Europe.
Additional existing investors in PlusDental include HV Holtzbrinck Ventures and Lakestar.
PlusDental is a Berlin-based health-tech company specializes in digital dentistry and aesthetic orthodontic treatments with clear aligners. PlusDental achieves first-class medical treatment results through direct cooperation with excellent local dentists. The entire therapy process is fully digitalized, from appointment to 3D treatment plan, from follow-up checks to billing. More than 70 highly qualified dentists in private practice across Germany, Austria, Switzerland, Great Britain and Spain are already using the Digital Dentistry Platform. The medical technology used is developed in PlusDental's own dental laboratory in Berlin, managed by several master dental technicians to the highest standards.
With the investment, PlusDental will further develop the proprietary digital dentistry platform and continue German and European business expansion.
Ping An, one of the largest financial services companies in the world, is striving to become the world leading technology powered retail financial services group. It has applied its advanced technologies to support the development of its five ecosystems, namely financial services, health care, auto services, real estate services, and smart city services. The Ping An Global Voyager Fund was launched with a mandate to invest in fintech and healthtech businesses to accelerate Ping An's technology transformation.
Dr. Marco Huesch, Chief Medical Officer of Ping An Global Voyager Fund says, "We are very pleased to lead PlusDental's Series C financing round. We are highly impressed by the way PlusDental combines its medical excellence with a high degree of digitalization, thus making a valuable contribution to innovation and access to modern dentistry."
Dr. Peter Baumgart, Co-founder and Managing Director of PlusDental emphasizes, "We have set out to take Germany's world leading dentistry to a digital level and to make it the go to, state of the art technology. We hold the belief that medical responsibility belongs in the hands of specialized and professionally trained registered dentists. Therefore, we are proud to be able to provide the digital infrastructure here and believe that both dentists and patients will benefit from digital dentistry. The current pandemic underlines the importance of digitalization, especially in the field of dentistry. Patients appreciate the transparency and efficiency we are offering through continuous digitalization and technology development. This is particularly valuable in transparency of treatment results and price, combined with the uncompromised quality of our independent dentist network. In this way, we are also opening up new groups of patients for our partner dentists."
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 204 million retail customers and 534 million Internet users, Ping An is one of the largest financial services companies in the world.
Ping An has two over-arching strategies, "pan financial assets" and "pan health care", which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystem" strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai.
In 2020, Ping An ranked 7th in the Forbes Global 2000 list. In 2019, Ping An ranked 29th on the Fortune Global 500 list. Ping An also ranked 40th in the 2019 WPP Millward Brown BrandZTM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.
About Ping An Global Voyager Fund
Established in 2017 by Ping An, the Ping An Global Voyager Fund is a Hong Kong-based investor in growth stage fintech and healthtech companies. The fund typically invests between US$15 million and US$50 million in non-control positions in companies where an affiliation with Ping An is likely to create significant value over time. The Fund has invested approximately US$300 million across Europe, Asia and North America.
PlusDental is a Berlin based, leading health-tech company, specializing in the digitalization of dental treatments as a digital dentistry platform. The company has developed a digital platform for aesthetic orthodontic corrections and has already treated many thousands of patients together with its strong network of more than 70 local partner dentists. PlusDental offers its digital dentistry platform for patient acquisition and treatment monitoring, as well as trainings and laboratory products to registered partner dentists in five European countries: Germany, Austria, Switzerland, Great Britain and Spain. PlusDental is a leading brand for medically excellent but affordable aesthetic dental corrections, it is PlusDental's mission to provide access to high-quality and innovative dentistry for the general public. The company manufactures its products in its own laboratory in Germany, to the highest medical and ethical standards and has since foundation been a committed sponsor of the Deutsche Cleft Kinderhilfe e.V. Since the outbreak of the COVID-19 pandemic, the company has converted its 3D printer fleet to produce medical protective equipment and has already produced more than 7,000 visors, distributed free of charge to medical institutions.
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