Sept 11, 2017
The dental implant market is expected to grow at a CAGR of 7.2% between 2016 and 2021 to reach USD 12.32 Billion by 2021 (Markets and Markets). This growth is mainly due to the increasingly aging population and growing demand for cosmetic dentistry. Preferred Dental Technologies Inc. will soon begin commercial sales launch of a disruptive technology to take advantage of this rapidly growing market.
Preferred Dental Technologies Inc. (CSE: PDT) has been established to advance development and commercialization of various evolutionary and disruptive technologies in the dental implant industry. The Company’s first entry into this market is the successful acquisition of Preferred Dental Implant Corp (PDIC) which will operate as a wholly owned subsidiary of PDT. PDIC is the developer and innovator of The EAS system which provides a solution for custom dental abutments for dental implants. Designed by an experienced dental lab technician, the EAS system provides a solution not currently available by any other dental implant company.
1) For those that are unfamiliar, could you please explain what the role of dental implants is for dentistry?
Any implant based restoration has a number of key components. The first one, you have just mentioned is the implant body. It acts like an artificial root, being surgically implanted in the patient’s jaw. A given case may rest on any number of implants depending on the extent of the patient’s tooth loss. On top of this, you have the visible part of the case, the artificial tooth or crown; a restoration can range from removable dentures to extensive multi tooth ceramic bridges. This is the part that a patient will often be most concerned with. It is the new smile that will bring improved confidence and oral health and it is critical that all dental professionals involved achieve the highest quality aesthetics and long-term hygiene in designing it.
In between the implant body in the jaw and the visible crown lies the abutment. The abutment is attached to the implant body and provides the underlying structure any restoration will be placed upon. As the connecting component, it is here that many of the issues arise which must be resolved or they will have long term consequences for the patient. The abutment has to be strong and perfectly align the new tooth with the implant or artificial root.
2) Can you highlight the details of your product and how it differs from the products that are already on the market? Why should people choose Preferred Dental’s abutment components over the competition?
The EAS System represents the culmination of decades of the experiences, and frustrations of a dental lab technician in providing high quality implant restorations with existing products on the market. My father was the inventor of this unique system. A European trained technician, he ran several dental laboratories and developed a reputation as someone dentists could send their most challenging work to.
The reality is that while there have been a number of advances in the area of implantology as regards to materials, and techniques as well as design, the majority of this innovation has focused on the implant bodies themselves – the component that provides the anchor in the patient’s jaw. Outside of manufacturing technique, there has been little development of the abutment design itself. The reason for this is that initially, ensuring a stable anchor with the implant body was the biggest challenge facing implant specialists. However, now that those problems have been significantly addressed, many of the issues facing successful case design originate in that neglected interface – the abutment which acts as a connection between the implant body and the restoration or artificial teeth being used.
Immediate challenges are ensuring an aesthetically and mechanically successful restoration above the gum line. There are further long term industry challenges which have developed due to successful implant body placements which are now lasting decades.
The EAS System is, we believe, the first set of abutment components that seriously re-examines and solves these issues from the ground up. Viewing an implant treatment as a long term and significant investment, our system allows for fast and easy construction of aesthetic and mechanically sound restorations by a dental technician without needing to learn significant new skills. And in providing a single, easy to use system, we can greatly reduce inventory requirements and help simplify a field that shows more options every year. Over the lifetime of the patient, the easy retrievability ensures reliable maintenance and repair over the lifetime of the patient. With these tools at hand, a dentist can provide preventative treatment and address numerous serious issues before they develop. All these elements make our system truly unique.
3) How big is the dental implant market and how much of that is Preferred Dental targeting?
The dental implants and prosthetics market is projected to reach $12.3 billion in revenues by 2021 and continues to show healthy growth beyond that. One trend worth noting is that in recent years, significant market share and growth has occurred among the smaller implant companies. So much so, that many of the major implant companies have engaged in a period of M&A activity, “buying back” business lost to these new regional providers. What is also significant is that many of these smaller companies do not provide much in terms of innovative new products; rather they only clone existing dental systems. Despite that, these smaller companies have been acquired as part of a larger global strategy by the majors.
In providing a unique solution to dental professionals, and with the favourable responses seen in pre-marketing research we have performed, we are keeping our sights on dental labs as opinion influencers in choosing to use our products. Each lab serves several dentists and we feel forms the hub to reach out to potential customers. Realistic growth of adding one lab at a time improves our scalability. If we convert one dentist to our system, we have one customer. Converting a single lab however will yield us anywhere from six to twenty new dentist customers.
4) What is the company’s strategy in terms of sales? Is the company’s dental implant only available in Canada and the U.S.?
We are initially focusing on the United States market due to relative size of the dental markets. We have already been working with a number of well-regarded international speakers, educators and lecturers who themselves, excited by the possibilities of The EAS System have begun introducing our system in sections of their lectures dedicated to up and coming products to be aware of. We have already compiled lists of interested dentists thanks to these presentations and with the beginning of commercialization imminent, we will initially reach out to these interested parties. In addition, sales staff have been trained and are ready to reach out to labs and specialists in selected regions.
We feel that continuing education and identifying trusted opinion leaders is key to driving interest and sales in the system. In this regard, we are very lucky to have several such individuals both on our board of advisors and independents who have been able to preview The EAS System and have felt that in their experience it represents a dental solution with significant market potential and ability to improve treatment options.
5) Preferred Dental recently announced an initial product order for the company’s EAS components with other manufacturers’ platforms. What are the company’s next steps regarding sales and marketing moving forward?
Preferred Dental Technologies Inc. has developed a very capital efficient model for commercializing our system and pursuing growth going forward. We have secured strong third party relationships to cover both manufacturing and distribution and our launch will utilize a commission-based sales team. All of this ensures that we can experience rapid growth in a swift and effective manner without large capital costs.
With our initial order in, we have been working with our manufacturer to finalize steps for labeling, packaging and distribution, all of which we expect to be completed by mid-September.
Upon completion, we plan to reach out to the dentists identified by our educators. These dentists have already had a basic preview of The EAS System and its capabilities and all have indicated a desire to be contacted when the product is available. Additionally, we have a number of trained sales people ready to approach dental laboratories in key areas.
As mentioned before, we feel that reaching our potential customers through a network of qualified lecturers and educators is a key aspect of our marketing strategy. To this effect we have been in talks with a number of them who would like to see our system highlighted as part of their programs and hope to announce some new joint initiatives shortly.
6) What other technologies and opportunities are currently being developed by Preferred Dental to complement the existing product?
I have had the privilege of presenting the EAS Abutment components to dentists and technicians in cities across the USA. One of the things I have enjoyed most has been the number of people who, after a brief introduction to the system, have started talking about applications that they could see the components being easily modified to meet. You can hear a real excitement in their voices as they realize the powerful potential in our unique platform. Not just in applying it to a current case sitting on their bench, but in future ways the system could be adapted to provide additional treatment options.
The thing to remember with the EAS components is that in addition to their current range and flexibility, we view the multi-component nature of the system as a platform for future product development. With the key elements found in the reverse threaded collar, we have a base which has the potential for a wide range of new applications. Our vision has always been of The EAS system becoming a truly universal platform, capable of providing dental professionals with a full tool kit of options for both treatment and technique. We went to market with the version that provided some of the most important and widely accessible options – but we soon foresee a system which will allow restorations to be produced for wide variety of needs based on a single, simple skill set. Truly an evolutionary approach.
Preferred Dental Technologies Inc. is one of the participating companies at the upcoming GCFF Vancouver Conference. If you would like to attend the conference, please register at www.gcff.ca
GCFF Vancouver Conference 2017
Date: October 14, 2017
Location: Sheraton Vancouver Airport Hotel
Address: 7551 Westminster Hwy, Richmond, BC V6X 1A3
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Disclaimer: NAI is being compensated for this article. Materials contained in this article is for information purposes only and is not intended to constitute an offering of securities in any jurisdiction. Nothing on this article should be construed as an offer, solicitation or recommendation to buy or sell products or securities.
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