Afterpay Touch Group Ltd (ASX:APT) will now start working with dentists to provide its buy now, pay later services.
The dentist in question is newly-listed ASX dental business Smiles Inclusive Ltd (ASX: SIL) according to the AFR. Smiles Inclusive has 52 dental practices and 107 dentists across the country.
Why is Smiles Inclusive using Afterpay?
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Afterpay is supposedly most popular with the younger millennial generation, who also aren’t regularly visiting the dentist according to Smiles Inclusive CEO Mike Timoney.
Commenting on the lack of dental visits, Mr Timoney said: “It’s a combination of lethargy and money management. I think dentistry as a profession, has never made it easy“.
Smiles Inclusive believes that 65% of Australians don’t regularly go to the dentist. The company is trialling Afterpay in four clinics and by the start of October, the entire Smiles Inclusive network will offer Afterpay.
Afterpay’s share price rose 6% yesterday in response to this news, whilst the Smiles Inclusive share price fell 2.8%. It seems the market has made up its mind who this deal is better for.
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