They have paid £135m[3] for the company – this appears a massive value for the total business, with a turnover of about £90m and assets ignoring goodwill previously estimated at just over £20m[4]. In effect, one could argue that’s over £115m for goodwill – making it about 125% - where’s that thread that said goodwill was worthless? Now before someone writes in I know this is not the way businesses are valued – investors look at multiples of EBITDA but I have just shown this example to help to put things in perspective. Well done to CEO Stephen Lambert and the rest of his management team.

Where is all this likely to lead. If you compare dentistry with the Optics market – in the 80’s it was mainly independents but now there are four or five high street brands, Dolland and Aitchison, Boots, Vision Express and of course Specsavers that are now dominating the market. Will it be the same in Dentistry – well it’s still a long way off, in fact it has only just started, but started is has. One thing I know, the investors will be looking for further growth and increased value – they must already believe they can achieve this - stripping out bad costs will be the first place they start.

No one really knows who is about to enter the market. With the sort of values being banded about this segment of the healthcare market will be attractive to many. The changes in the Dentist act allowing more than the 28 dental body corporates in July 2006 also brought with it the end of the previous register and as yet no new one (rumoured to be later this year) is available. So yes we have Genix Healthcare, Primecare, and also Superdrug have announced their three site pilot (with Smile Store) but who else is out there, who else is about to launch? Who has heard of Swiss Smile, launched in September with their first practice in London, just off Oxford Street? I look forward to reading the list when it is released – there will be some well known names I am sure.

Should individuals worry – for the majority I would say no. All the activity I have described has and will continue to grow the market. Evolve as dentistry evolves and not only will you survive you are likely to derive more pleasure from your work and more financial rewards, which certainly helps with the work:life balance thing.

Will there be casualties – absolutely. The uncertainty of 2009 and what that brings will be a factor. Also Corporate dentistry is not a licence to print money – under funded or poorly planned and managed projects will still fail. However there will be further winners in dentistry over the exciting coming years – I wish you all well and hope you are one of them. So, here’s to the next ten years Tony!