Healthsoft
We met Cynthia Bethel and Thai Hoang, owners of Healthsoft, Inc., after they came to a BCMS Corporate seminar held in Dallas, Texas. It was immediately clear to us what a tremendous company the pair had built after speaking with Dave Karnofel, one of our senior advisors. Dave Karnofel recalls their first meeting, “The backgrounds of Cynthia and Thai, having come from the consulting arena, allowed them to build a business with the insights and infrastructure that had the company poised for growth. A larger company could easily step in with the appropriate resources and take their business to the next level. It was immediately apparent we had something special.”
The owners of Healthsoft, Inc. enlisted the services of BCMS Corporate to find an acquirer that would provide greater resources and opportunities to help the company reach its full potential. Having grown the company for the past 20 years, the owners understood the benefits that could be realized by finding a synergistic acquirer.
BCMS’s researchers combed the globe for strategic acquirers in industries such as medical and dental practice management, electronic medical records, professional billing houses, medical and dental supplies, and distribution and project management software. In the end, over 200 potential acquirers were selected for the market approach. After extensive calling by BCMS staff, 23 of these companies requested greater details about the acquisition opportunity and qualified for further discussions. This pool represented acquirers from 4 countries and a variety of industries and specialties. BCMS’s Deal Leader, Andy Wood, discussed all potential suitors with the owners of Healthsoft and they decided to hold meetings with 8 different companies. Ultimately, three companies were selected to move forward and each made a highly competitive bid.
In the end, Cynthia and Thai agreed that it was a priority to ensure the continued success of the company they had built. They felt that the fit with PracticeWorks Systems was a “combination [that] will greatly benefit Windent customers, who will now have access to fully integrated imaging and practice management software solutions.” With the acquisition, Windent and its workforce, based in Richardson, Texas, became part of the larger PracticeWorks corporation. “We view this acquisition as an opportunity to deliver new and innovative solutions to our customers as we have for over 23 years.” stated Thai Hoang, Co-founder and President of Healthsoft, Inc.
“Oral health providers across the U.S. and Canada are engaging digital imaging in ways never before possible,” commented Cynthia Bethel, CEO of Healthsoft. “Joining forces with PracticeWorks will enable our common vision of allowing practices to flourish and better meet patient needs,” said Ms. Bethel. PracticeWorks’s C.E.O. Patrik Eriksson agreed, “Together, PracticeWorks and Windent will deliver the best in class, most highly-integrated digital imaging and practice management software solutions available.”
About Healthsoft, Inc./Windent
Healthsoft, Inc./Windent is an independently owned, privately held dental practice management software company located in Richardson, Texas. Since 1987, Windent has developed state of the art practice management software that solves the challenges facing oral surgery and dental practices across the United States and Canada sold under the brand names WINDENT OMS, WINDENT SQL, WINDENT Enterprise and WINDENT Platinum. For more information on Windent, visit www.windent.com.
About PracticeWorks Systems, LLC
PracticeWorks Systems, LLC, is the exclusive maker of KODAK Dental Systems. KODAK Digital Imaging and Practice Management Systems help dental professionals streamline workflow and enhance patient care by enabling them to capture, share, and use images and information easily and effectively. PracticeWorks is part of Carestream Health, Inc.’s dental systems group. Carestream Health is a leading provider of dental and medical imaging and IT solutions, serving customers in more than 150 countries. For more information, visit www.kodakdental.com.
About Carestream Health, Inc.
Carestream Health, Inc., is a worldwide provider of dental and medical imaging systems and healthcare IT solutions; molecular imaging systems for the life science research and drug discovery/development market segments; and x-ray film and digital x-ray products for the non-destructive testing market. For more information about the company’s broad portfolio of products, solutions and services, please contact your Carestream Health representative or visit www.carestreamhealth.com.
