CFO Michael Lee shares the success story of Medit – an innovative company in the space of intraoral scanners.
With the rising popularity of intraoral scanners among dentists, the criteria for selecting these devices have expanded. Although there are many intraoral scanner providers in the market, Medit has emerged as a standout player, delivering scanners to over 140 countries and earning significant recognition.
The success story lies in Medit’s i series, which has consistently resonated with dentists, creating a devoted following. Michael Lee, Medit’s CTO, shares some of their innovative success stories.
What was your career path like? Were you already in the dental industry? What sparked your interest in the digital healthcare sector?
I have always been fascinated by computer graphics and 3D Design. After studying mechanical engineering and CAD (computer-aided design), I founded a start-up company providing an affordable 3D scanner and it became the world leading 3D scanner software provider. Medit started by developing 3D scanners for industrial applications in 2000. Then, it became one of top companies in dental lab scanner market.
3D scanning is indispensable technology when making a personalised product. Digital dentistry is the biggest industry in that context, and this was fascinating.
I joined Medit in 2016 after exiting my previous 3D scanning software company with great success. My mission was simple, which was to develop an intraoral scanner at Medit, which will lead the company to much a bigger market.
Medit serves users in approximately 140 countries globally. How do you view the market changes since the widespread adoption of intraoral scanners?
Medit disrupted the market with the affordable i500 intraoral scanner in 2018. By lowering costs, providing free software updates, and introducing new applications at no extra charge, Medit expanded access to digital dentistry, particularly in less developed countries. This sparked healthy competition, driving technological advancements, and enhancing services for end-users.
Medit has led a few important trends in digital dentistry with our intraoral scanners, software and services. First, there was significant drop in price including elimination of subscription fee.
Second, Cloud connectivity, and a platform became important. Last, various workflows and easy software became key buying factor. Ever since Medit pioneered those changes, the digital dentistry market has been growing rapidly.
What features distinguish Medit’s software and hardware from other intraoral scanners?
I am confident to say that Medit provides an accessible intraoral scanner that anyone can easily start with. It is somehow common for users to purchase a software program separately even after purchasing a scanner. However, users do not need to worry about the additional costs as Medit’s software program (Medit Link) does not charge extra costs.
Furthermore, considering the phrase ‘the devil is in the details’, Medit acknowledges the profound impact that small details can have on user experience. Through the application of Medit’s distinctive AI technologies, users can effortlessly navigate through scanned data with just a few clicks, a process that would otherwise involve multiple steps. You can experience workflow effectiveness through Medit’s applications.
Medit has significantly improved dentists’ workflow, positively impacting patients as well. What goals and plans does Medit have this year?
Medit is dedicated to the continuous development of customer-centric functions and technologies, with the goal of significantly enhancing scanning quality and streamlining the data handling process.
You can expect highly convenient software tools for prosthetic treatments and other procedures. Medit is committed to enhancing intraoral scanners, making them more intuitive, versatile and streamlined for increased clinic productivity.
We are investing heavily in various apps and platform integration with partners. For instance, in collaboration with leading 3D printing companies, we simplify the workflow to bring the benefits of 3D-printed final prostheses directly to patients in clinics.
Additionally, Medit anticipates a specialised management tool for dental service organisations (DSO) through the Medit Link Enterprise program, fortifying your DSO business with seamless device and operations management. For a comprehensive overview of our plans for the new year and the latest updates on apps and software, please refer to your Medit Link account.
If you had to describe Medit in just one word, what would it be and why?
It may be a cliché, but ‘innovation’ would be the right word to show the identity of Medit. The name Medit was from Medical and Information Technology. Medit has entered digital dentistry market later than major competitors. By successfully introducing IT innovation into rather conservative medical industry, we evolved from a fast follower to a market leader.
To learn more about Medit, visit www.medit.com.
