Pearl and Patterson Dental Canada Join Forces to Advance Dental AI in Canadian Dentistry

Rhea-AI Summary

Pearl, a leader in dental AI solutions, and Patterson Dental Canada, a subsidiary of Patterson Companies, Inc. (Nasdaq: PDCO), have announced a collaboration to expand access to Pearl's Second Opinion® AI disease detection capabilities in the Canadian dental market. This partnership will bring Pearl's real-time pathology detection AI software to new users across Canada, assisting dentists in radiologic evaluation and case presentation of dental conditions found in x-rays.

The technology, which received its Medical Device Establishment License from Health Canada in 2021, enhances dentists' clinical performance and patient communication. This collaboration expands Pearl's commercial ties with Patterson Companies, Inc., following a November 2023 integration with Patterson Dental Supply, Inc. in the United States.

Positive

• Expansion of Pearl's AI technology into the Canadian dental market
• Integration of Pearl's AI with Patterson's leading dental software offerings
• Potential for improved clinical performance and patient communication for dentists
• Strengthening of commercial ties between Pearl and Patterson Companies, Inc.

Negative

• None.

Market Research Analyst

The partnership between Pearl and Patterson Dental Canada signifies a strategic expansion that could impact the dental technology market. Pearl's Second Opinion® AI tool offers advanced disease detection capabilities, which can enhance diagnostic accuracy and efficiency in dental practices. This integration could potentially lead to widespread adoption of AI in the dental field across Canada, positioning Patterson Dental as a leader in offering innovative dental solutions.

For investors, this collaboration suggests a growth opportunity for Patterson Companies (PDCO) stock. By incorporating cutting-edge AI technology into their product offerings, they not only strengthen their market position but also add substantial value for their clients. The Health Canada Medical Device Establishment License (MDEL) approval further lends credibility to the efficacy and safety of the product, potentially driving higher adoption rates.

It's important to consider the long-term implications this could have on the dental market. With AI becoming more integrated, there's an opportunity for improved patient outcomes, more efficient clinical operations and perhaps even a reduction in overall healthcare costs. For investors, this could translate into sustained revenue growth for companies involved in such innovative technologies.

In conclusion, the move fortifies Patterson Dental's market position and aligns with broader trends of integrating AI into healthcare, which is increasingly seen as a value add.

Financial Analyst

From a financial perspective, the partnership could enhance Patterson Companies' revenue streams. As Pearl's AI tool gains traction within the Canadian dental market, it may drive higher sales volumes for Patterson's software platforms. This could also lead to an increase in recurring revenue from subscription-based models for AI software use.

Investors should consider the financial stability and growth potential of AI technology. Pearl's AI capabilities could provide a competitive advantage and contribute positively to Patterson's revenue mix. Moreover, the collaboration may attract new clients who are looking for advanced diagnostic tools, thereby expanding Patterson's customer base.

However, it's essential to monitor the integration's execution carefully. Any delays or technical issues could impact adoption rates and, subsequently, revenue projections. Additionally, competitors might respond with their own AI solutions, which could affect market share.

Overall, this collaboration has financial merits that could support a positive outlook for Patterson Companies' stock, provided the integration is smooth and the AI technology gains acceptance in the market.

The relationship will bring Pearl’s robust clinical AI toolset to new users across Canada

LOS ANGELES--(BUSINESS WIRE)-- Pearl, the global leader in dental AI solutions, and Patterson Dental Canada, Inc., a subsidiary of Patterson Companies, Inc. (Nasdaq: PDCO), today announced a collaboration to expand access to Pearl’s Second Opinion® AI disease detection capabilities within the Canadian dental market.

Pearl’s real-time pathology detection AI software, Second Opinion®, assists dentists in their radiologic evaluation and case presentation of dental conditions commonly found in dental x-rays, including caries, bone loss, calculus, and more. The technology, which received its Medical Device Establishment License (MDEL) from Health Canada in 2021, enables dentists to read patient x-rays more accurately and efficiently, enhancing their clinical performance and patient communication.

“For decades, Patterson Dental Canada has been committed to providing tailored solutions that meet the dental industry’s rapidly evolving needs,” said Dan Begin, Region President of Patterson Dental Canada. “Pearl’s innovative AI-backed technology has set a new standard of care within dentistry. By adding Pearl’s AI to our leading dental software offerings, we are furthering our commitment to enabling the most advanced dental care across thousands of Canadian dental practices.”

Today’s announcement marks an expansion of Pearl’s commercial ties with Patterson Companies, Inc. In November 2023, Pearl and Patterson Dental Supply, Inc. established an integration with Pearl’s AI feature set natively within Patterson’s Eaglesoft, Fuse, and Dolphin practice management software platforms. By expanding Second Opinion® access in Canada, Pearl’s connection with Patterson Dental Canada makes the benefits of advanced clinical AI available to every Patterson Dental customer across North America.

“Patterson Dental Canada is one of the most trusted names in dental technology,” said Ophir Tanz, founder and CEO of Pearl. “We are proud to work together in advancing our mission to elevate the global standard of care in dentistry.”

About Pearl

Pearl is an AI-driven company committed to enhancing patient care in dentistry. Founded in 2019 by a team with decades of experience developing successful, enterprise-grade computer vision solutions, Pearl introduced the first-ever FDA-cleared AI capable of reading and instantly identifying diseases in dental x-rays. With regulatory clearance in 120 countries, Pearl's AI assists dentists in making precise clinical decisions and effectively communicating with patients, thereby transforming the dental care experience worldwide. As dentistry’s global AI leader, Pearl is committed to the ongoing innovation of robust, accessible AI tools that improve patient health outcomes and build greater trust in dental medicine. To request a demo, please visit hellopearl.com/getdemo.

About Patterson Companies Inc.

Patterson Companies Inc. (Nasdaq: PDCO) connects dental and animal health customers in North America and the U.K. to the latest products, technologies, services and innovative business solutions that enable operational and professional success. Our comprehensive portfolio, distribution network and supply chain are equaled only by our dedicated, knowledgeable people who deliver unrivaled expertise and unmatched customer service and support. Learn more: www.pattersoncompanies.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240718702944/en/

Megan Cahalan

Matter Health for Pearl

Pearl@matternow.com

Source: Pearl

FAQ

What is the purpose of Pearl and Patterson Dental Canada's collaboration?

The collaboration aims to expand access to Pearl's Second Opinion® AI disease detection capabilities within the Canadian dental market, bringing Pearl's robust clinical AI toolset to new users across Canada.

What benefits does Pearl's Second Opinion® AI software offer to dentists?

Pearl's Second Opinion® AI software assists dentists in radiologic evaluation and case presentation of dental conditions found in x-rays, enabling them to read patient x-rays more accurately and efficiently, enhancing clinical performance and patient communication.

When did Pearl's Second Opinion® technology receive approval in Canada?

Pearl's Second Opinion® technology received its Medical Device Establishment License (MDEL) from Health Canada in 2021.

How does this collaboration affect Patterson Companies, Inc. (Nasdaq: PDCO)?

This collaboration expands Pearl's commercial ties with Patterson Companies, Inc., making the benefits of advanced clinical AI available to every Patterson Dental customer across North America, potentially strengthening Patterson's market position in dental technology.