Capim, a fintech company providing financial solutions for the dental sector, announced the acquisition of Dental Office, a transaction that allowed Stone to exit its portfolio as part of a restructuring process. Financial terms were not disclosed.
The agreement stipulates that the two companies' systems will remain separate, with Dental Office continuing to operate independently under the leadership of Roger André Hitz, the company's founder and CEO, according to a statement released by the companies.
Founded in 2000, Dental Office joins Capim, which last year raised US$27 million in a round led by Valor Capital and QED Investors , with participation from Endeavor , Credit Saison , and Actyus.
“I am very excited to bring my experience to the Capim team. Together, we will boost the careers of thousands of dentists and democratize access to oral health for millions of Brazilians,” Hitz said in a statement.
The companies did not disclose details about the size of the company post-acquisition, but a source consulted by NeoFeed reported that, with Dental Office, Capim is on track to exceed R$ 50 million in annual revenue. Clinicorp, a leading player in this market and an investment of Cloud9 , has reached R$ 100 million in annual recurring revenue.
In the statement, Capim informs that the transaction foresees connecting Dental Office's clients to Capim's financial solutions, including patient financing and point-of-sale terminals, present in more than 12,000 clinics throughout the country.
Stone held a stake of approximately 20% in Dental Office, acquired between 2020 and 2021, when it invested in a series of startups to expand its operations beyond simple merchant acquiring, at a time when it was fighting in the " POS terminal war ".
In this strategy, Stone invested in Vitta , which offers systems for medical offices and health plans for startups, a similar strategy that guided the investment in Dental Office.
“Stone’s investment in Dental Office was intended to introduce financial services within Dental Office’s software base,” a source told NeoFeed . “But ultimately the deal never took off.”
Another source said the operation was positive for Stone, at a time when it is focusing on core assets. "The transaction was completed under attractive conditions, with a multiple above 20 times Dental Office's EV/EBITDA," they stated.
Stone has been making adjustments to its operations, seeking to focus on its core activities in the face of the difficulties it has been facing. Citi cut its recommendation for the company's shares from buy to neutral last week, warning of weaknesses in Stone's revenue drivers and the quality of its assets.
In the first quarter, Stone reported an adjusted net profit of R$ 549.1 million, an increase of 3.5% compared to the result of the first quarter of 2025, but a reduction of 22.3% compared to the balance of the fourth quarter.
Total revenue was R$ 3.57 billion, up 6.5% compared to the same period of the previous year and down 4% compared to the fourth quarter.
Divestments are part of Stone's strategy. In July, the company made its most significant move in this area, selling Linx to Totvs for R$ 3.05 billion.
Contacted by NeoFeed , Stone stated that the operation follows "the same strategic rationale of focusing on the core business of financial services and disciplined capital allocation" and that it has been continuously reassessing its portfolio of holdings.
In the transaction, Capim was advised by Lefosse. Dental Office received legal counsel from Oliverio Advogados and financial advice from NewHarbour Partners.
