Capim, a financial technology firm specializing in the dental sector, has announced its acquisition of Dental Office, a leading provider of practice management software. The transaction facilitates the exit of major fintech Stone, which held a significant minority stake. This move signals a strategic consolidation aimed at integrating financial solutions more deeply into the daily operations of dental clinics across Brazil.
A Strategic Shift for Stone
The sale is a key component of Stone's broader strategy to divest non-strategic assets and concentrate on its core financial services business. This refocus follows other significant moves, including the R$3.05 billion ($540 million) sale of Linx to TOTVS in 2025 and a recent corporate restructuring. These actions underscore the company's commitment to streamlining operations and enhancing capital discipline.
This strategic pivot occurs as Stone navigates a challenging financial landscape, marked by a recent stock recommendation downgrade from Citi. The company's first-quarter adjusted net income for 2026 was R$549.1 million ($97.2 million), a notable decrease from the previous quarter. The divestment from Dental Office is a direct response to these pressures, prioritizing stability and core business growth.
Stone initially acquired its approximate 20% stake in Dental Office between 2020 and 2021 with the goal of cross-selling financial products. However, the intended synergies failed to materialize as expected, prompting the company to re-evaluate its portfolio. The sale, reportedly at an attractive multiple of over 20 times EV/EBITDA, allows Stone to exit the investment on favorable terms.
Capim's Expansion in Dental Tech
For Capim, the acquisition represents a significant step in its mission to build a comprehensive ecosystem for dental professionals. Backed by a $27 million funding round in 2025 led by Valor Capital Group and QED Investors, the company is well-positioned for aggressive growth. This purchase leverages that capital to rapidly expand its market footprint and service offerings.
The primary strategic advantage for Capim lies in gaining access to Dental Office's established base, which serves over 12,000 clinics. Capim plans to introduce its financial solutions, including patient financing and payment processing terminals, to this new network. This integration is expected to create a seamless experience for both dentists and their patients.
To ensure operational continuity, Dental Office will continue to function as an independent entity under the leadership of its founder and CEO, Roger André Hitz. The companies have confirmed that their respective software systems will remain separate in the initial phase. This approach is designed to minimize disruption while the long-term integration strategy is developed.
The Future of Integrated Dental Services
This acquisition exemplifies a growing trend in the fintech industry, where companies are creating specialized, all-in-one platforms for vertical markets. By combining practice management software with embedded financial tools, Capim is creating a powerful value proposition. This model aims to improve efficiency and revenue streams for dental practices nationwide.
Roger André Hitz expressed enthusiasm for the merger, stating it will "empower the careers of thousands of dentists and democratize access to oral healthcare for millions of Brazilians." With the addition of Dental Office, Capim projects its 2026 revenue will exceed R$150 million ($26.5 million). This forecast highlights the company's confidence in the synergistic potential of the combined entities.
In summary, Capim's acquisition of Dental Office marks a pivotal moment for Brazil's dental technology landscape. The deal significantly enhances Capim's market presence and product ecosystem while enabling Stone to advance its strategic realignment toward its core financial services. This transaction ultimately reflects a sophisticated recalibration of assets and ambitions for both companies involved.