Today, groups provide 22% of primary dental care to patients and more and more practices are likely to consider accepting a bid from a corporate when selling their practice.
Steve Jones, a recent vendor whose practice was acquired by BUPA, reflects on his sale and what steps should be taken to achieve an optimum result.
“A dental corporate will have extensive experience with dealing with purchases such as mine, whereas most dentists are likely to only sell to a large company just once in their career. If I have one piece of advice, it would be that it is crucial that you get expert help from a top broker and a good legal team before you sign heads of terms.
“What’s more, it is important to take into consideration the terms of the future associates, not just the amount of money that is offered.”
When asked about the challenges of the sale and why he chose Dental Elite, Steve said: “The most testing aspect was the final two weeks trying to understand all the legal contracts and warranties.
“However, Leah Turner, my representative, was very helpful, always contactable and Dental Elite was very prompt getting back to us with the initial practice report and valuation.”
For help on selling your practice, visit www.dentalelite.co.uk or call 01788 545 900.
