Oasis acquires Smiles Dental
- Details
- Published: Tuesday, 08 April 2014 15:08
- Written by News Editor
- Hits: 4318
Oasis Healthcare has struck a deal that will bring Smiles Dental into its portfolio for an undisclosed sum. CEO Justin Ash says it will enter ‘the attractive dental market in the Republic of Ireland’. Oasis’s turnover will increase from £160 million to over £210 million, providing dental care to over 2.5 million patients, as their practice network grows by 37% from 204 to 281.
Last year GDPUK reported that Smiles Dental was investing £6 million and opening 10 new dental practices in the North of England, creating more than 150 jobs over the next 18 months.
Justin Ash, CEO at Oasis Healthcare Group, said: “This is a transformational deal for Oasis and demonstrates our ability to drive growth and consolidation, building the only national brand in the fragmented dental market. We believe this is outstanding news for the 2.5 million patients of the combined group and all patients seeking high quality, easy accessible dental care. We are also pleased to be extending our partnership with the NHS across the UK and to be providing care under the HSE in the Republic of Ireland”.
He continued: “Smiles is highly complementary to our existing business and shares many of our core values, including a commitment to offering patients real choice, service excellence and transparent pricing. In its recent review the OFT called for improved competition, innovation and price transparency and we are proud to be bringing that to consumers in the UK, and now in the Republic of Ireland. We are very excited about this deal and the prospects for the larger group. We are well funded to continue our growth, and are actively seeking further complementary acquisitions, as well as new openings to at least double the size of Oasis.”
Oasis comments: ‘The UK dental market has expanded during the course of the last decade, reaching an estimated £5.7 billion in 2012. Oasis’s acquisition of Smiles comes at a time when the dental sector is expected to experience further growth over the next 5 years. The acquisition of Smiles underlines Oasis’s ambition to be recognised as the go-to brand of dentistry in the UK – putting the patient at the heart of everything it does. In September 2013 Oasis appointed Sir Stuart Rose to chair the board as it creates a truly consumer focused dental chain.’
Emmet O’Neil, CEO at Smiles Dental, said: “We were looking for a partner to help Smiles reach the next level and had examined a number of options. When I met Sir Stuart and Justin Ash I realised that there was a shared approach and a matched ambition at Oasis. яндекс I am delighted to be joining their team and look forward to working hard not only to integrate our business, but to grow in future and to continue delivering a modern and innovative approach to dentistry. The team at Smiles both in the UK and Ireland have a huge amount to be proud of, and I want to take this opportunity to thank them for their loyalty, support and dedication.”
Oasis will brand the new practices as Oasis Dental Care in the UK, and keep the distinct character of the referral practices in the group. In Ireland Oasis will maintain the strong Smiles brand, which is already well established.
You need to be logged in to leave comments.
Report