Ping An Makes a Shrewd Move Into EU Dental Insurance Market

Insurers in Europe are already well versed in the art of panelling out services such as legal, accident management, specialist vehicle valuations, selling salvage etc. After Corona, people will want more online services and more choice when it comes to agreed, fixed cost treatment plans. Many people will soon discover that their local dentist may well not be able to fit them in after lockdown ends, and demand soars.

Private practice dentists who can offer socially distant reception areas, with maximum sanitising and cleaning regimes, may well find they have a commercial advantage over NHS dentists. Companies may well want to offer private, no-waiting around, dental/healthcare plans in place of a pay rise as the coming recession bites harder in 2021 too. Ping An could be onto something.

Ping An Insurance 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 GermanyAustriaSwitzerlandGreat 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 alastair walker (3726 Articles)
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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