IDH sees turnover jump 17%
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- Published: Tuesday, 26 August 2014 08:14
- Written by News Editor
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Europe’s biggest dental group has seen a surge in sales, fuelled in part by buying up new practices, according to the Sunday Times. Integrated Dental Holdings, owned by the buyout firms Carlyle and Palamon, saw sales jump 17% to £408m in the year to March. It added more than 50 practices, taking its total to 585, the newspaper reported.
The Sunday Times reports that the bulk of IDH’s income is derived from NHS patients. Operating profits at the healthcare group rose more than a quarter to £18.6m. However, after interest payments, accounting charges, and other non-cash items, pre-tax losses reached £77m. IDH’s owners are considering how to realise their investment.
In his annual statement IDH chairman, Paul Pindar, said: “Since the end of the 2013 financial year, the business has successfully raised £400 million in the UK high-yield bond market and £100 million of new acquisition funding. IDH is now ideally placed to pursue its five-year growth strategy to increase the current 550 practices operated by the group to over 1,000 and annual revenues to over £650 million. IDH seeks to acquire a mix of National Health Service (NHS) and private dental practices as well as focussing on some key specialisms including Orthodontics, Implants and Endodontics in order to continue to grow the business and maintain our position as the largest dental body corporate in the world.”
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