TDO Software is a practice management software platform for endodontic offices. Sonendo sold the software to Valsoft Corporation, which specializes in the acquisition and development of vertical market software businesses, according to a March 4 news release.
Sonendo will receive approximately $16 million from the sale of its software assets.
Additionally, Sonendo announced that it reached an agreement with Perceptive Credit Holdings to amend its Amended and Restated Credit Agreement and Guaranty. The loan amendment includes a one-time $15 million principal repayment and establishes monthly principal repayments beginning this month, according to the news release.