Considering the sale of your practice?
With demand outstripping supply in many areas of Scotland and momentum expected to continue throughout 2019, the new year is the ideal time to start investigating the options and opportunities for your business
If you’re a dental practice owner considering the next steps in your career, the new year is the opportune time to start seriously scoping out opportunities. Regardless of the type of practice you own, it is worth investigating how much your business might be worth.
The only way to guarantee that you receive the best price for your practice is by inviting parties to offer on a competitive basis. There is a growing list of buyers looking for all types of dental practices throughout Scotland, and demand is outstripping supply in many regions. On average, Christie & Co gets 10 qualified viewers for every practice marketed, and in the last year, we sold or valued in excess of £600m worth of practices. One significant transaction at the end of 2018, the sale of Caledonian Dental Care, a 19-surgery practice in Perth, demonstrates the appetite in the market for well-run, profitable small and mid-sized groups.
Caledonian Dental Practice was first established on York Place in 1947 and acquired by Dr John Cockburn in 1989.
Dr Mike San joined the practice as a co-partner in 1998, and the pair have grown the business organically for more than 20 years. In 2009, the development of a modern purpose-built practice with eight surgeries on Kinnoull Causeway brought Caledonian Dental Care to a total of 19 surgeries. The practices are now two of the busiest general dental practices in Scotland, with approximately 40,000 registered patients.
We were approached by John and Mike to value their business, position it for sale, negotiate terms and project manage the transaction. We ran a confidential marketing process to key operators in the UK dental market, and following significant interest and multiple bids being received, the business was successfully sold to Portman Dental Care. The acquisition will particularly strengthen Portman’s growing portfolio in Scotland.
The dental market in Scotland continues to perform well and we expect momentum to continue throughout 2019.
To discuss how Christie & Co might help you achieve your future plans, contact Paul Graham, Director – Medical at Christie & Co on 0131 524 3416.