Convergent Dental
- Industry
- Medical Devices & Equipment
- Founded Year
- 2011
- Headquarters
- 100 Fifth Ave, Suite 1010, Waltham, MA 02451, USA
- Employee Count
- 51
Key People
- Michael Cataldo - CEO
- David M. Hornbrook, DDS, FAACD - Chief Clinical Officer
- Jim Rynerson - Chief Financial Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with successful backgrounds in the MedTech industry.
The presence of multiple successful MedTech entrepreneurs in the leadership team suggests a strong foundation for strategic decision-making and industry navigation.
- Clinical Need
-
Aspect: Very Strong
Summary: Solea addresses a significant clinical need by enabling virtually anesthesia-free, blood-free, and pain-free dental procedures.
By offering a solution that minimizes patient discomfort and improves procedural efficiency, Solea fulfills a pressing need in the dental industry.
- Competition
-
Aspect: Somewhat crowded
Summary: The dental devices market is competitive, with several established players offering similar technologies.
While Solea offers unique benefits, the presence of multiple competitors requires strategic efforts to differentiate and capture market share.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of Solea involves manageable technical challenges with predictable outcomes.
The technology behind Solea is based on established principles, allowing for a clear development pathway and minimizing unforeseen technical hurdles.
- Patent
-
Aspect: Strong
Summary: Convergent Dental holds strong patents protecting its Solea technology.
The company's strong patent portfolio safeguards its innovations, preventing competitors from easily replicating the technology and ensuring market exclusivity.
- Financing
-
Aspect: Medium
Summary: The company has secured moderate funding from investors.
While initial investments have supported development, further capital infusion will be necessary to expand production, marketing, and distribution efforts.
- Regulatory
-
Aspect: 510k/PMA
Summary: Solea has received FDA clearance for both hard and soft tissue indications.
Achieving FDA clearance validates the safety and efficacy of Solea, enabling the company to market the product within the regulatory framework and build trust with dental professionals.
Opportunity Rollup
- Odds of Success
- 3.65
- Peak Market Share
- 4.9
- Segment CAGR
- 5.0%
- Market Segment
- Dental Devices
- Market Sub Segment
- Dental Lasers
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.73 |
| 3 | 1.71 |
| 4 | 3.43 |
| 5 | 4.90 |
Key Takeaway
Convergent Dental's Solea laser system addresses a significant clinical need with its innovative technology, positioning the company favorably in a growing market despite competitive challenges.