The GDPUK.com Blog

All that's new in the world of dentistry
MAR
16
0

The UK welcomes its first pan-European dental provider, Colosseum Dental

The UK welcomes its first pan-European dental provider, Colosseum Dental

One year after taking ownership of the UK’s third largest dental group, Zurich-based Colosseum Dental Group unveils a £5M comprehensive modernisation programme focused on clinical excellence and best practice.

Southern Dental, the nation’s third largest chain of dentists, is now known as Colosseum Dental UK Ltd. The name change coincides with the first anniversary of Zurich-based Colosseum Dental's acquisition of Southern Dental, which made it not only Europe's fastest growing dental group, but also the only one with a network spanning the continent.

 

With a patient base in excess of 500,000, the majority of Colosseum's 80 practices in the UK will undergo an extensive refurbishment programme, introducing a new look and feel to waiting rooms with upgraded treatment areas and clinical facilities as part of a £5,000,000 investment in the company. Peter Keegans, CEO, explains, “Our new owners have a long-term, 20-year vision which is enabling us to invest in upgrading our clinics to be state-of-the-art practices offering the highest standards.” Colosseum Dental Group’s ambition is to be Europe’s leading dental provider within five years.


LOCAL PRACTICES SERVING THEIR COMMUNITY
One of the pillars of Colosseum’s recipe for success in the UK will be embedding each practice as a “good neighbour” in its local community. Peter continues, “We want to break with convention from other dental chains. Each of our 80 practices will be known by the local name patients have always referred to it. If, for example, ‘Hollybush Dental’ is how a practice has always been known colloquially, we've no intention of simply re-badging it as ‘Colosseum Dental’. In this way, each practice will retain its connection as an integral part of its community."

In addition to being a good neighbour, Colosseum has two other refreshingly simple cultural values; to be a provider of exceptional patient care and to be a great employer. As Peter explains, “Our name change marks a new era: a renewed energy and focus, an opportunity for cultural change and to align ourselves with the values of our European colleagues. Armed with a long-term vision, we can now invest in our practices and staff with confidence, knowing our patients will be the ultimate beneficiaries. Everyone wins.”


EUROPEAN SCOPE FOR PROFESSIONAL DEVELOPMENT AND PATIENT CARE
Being part of a European group means dentists have the chance to provide best practice based on the ability to observe long-term clinical outcomes in a huge, European-wide patient base. Treatment protocols, guidelines and KPIs are currently being developed across the group to provide highly informed patient care, and present the best possible treatment options to patients. Ravi Rattan, Clinical Director at Colosseum Dental UK, who joined in 2016, is excited to be part of these changes: “At Colosseum Dental, we’re committed to raising clinical standards and offering more advanced treatment options and procedures to our patients. Our new specialist referral centres in Kettering and Kingston offer private as well as NHS treatments such as orthodontics, implants and facial aesthetics. Patients there will benefit from 3D CBCT scanners to enable better, safer treatment planning. Having new investment means we can continue to set up such centres: Our European colleagues are highly experienced in managing large referral centres, and we are learning from their success.”

 

 

The group’s aim is for no differences to exist between treatments available at, say, a practice in Switzlerand, and those available at one in Southern England. Lars Armbäck is Chief Dentist at Colosseum Dental Group. Armed with 30 years’ general practice and a special interest in prosthetics, implants, quality and treatment strategy, his focus is on best practice, dentist development and quality assurance. He’s excited by the addition of the 80 English clinics, noting, “Patients everywhere should be able to benefit from digital technologies that enable them to make informed choices about their care. Hence, as a group, we recently chose to invest in intraoral scanners for all patients, and our size means we can negotiate to help keep diagnostic and treatment prices affordable.” He adds, “Dentists at our UK practices will benefit from committees we have set up to examine best practice in treatment planning and workflow. With time, we’ll be able to compare patient outcomes across Europe, and thereby identify best treatment strategies and best practice overall. It’s this type of sharing which sets us apart from any of our competitors.”


COMMITTED TO PROFESSIONAL DEVELOPMENT
Career choices at various levels are being made more flexible, in line with changing lifestyle requirements such as increased female and part time dentists in post. Samaneh Nezamivand-Chegini, a dentist who practises in Central London, having joined in 2012, now sits on the Clinical Board. She says, “It’s great to see my suggestions have been noted, despite my being relatively newly qualified. Peter [Keegans] and his team have listened and acted, which is in turn inspiring my clinical colleagues. On a personal level, I’m being supported to further my career and income via training in implantology.”

Sharyn Wilson, HR Director at Colosseum Dental UK, notes, “Our improved ways of working and communicating are being appreciated by all our staff, from receptionists to dental specialists.” Career progression for non-clinical staff is also being strengthened. For example, the new Advanced Treatment Co-ordinator has progressed from earlier roles as nurse, Practice Manager, then Resourcer. As a sign of its commitment to professional development, Colosseum Dental UK will hold its first Annual Conference on 20th April, where keynote speakers will include Seema Sharma, an expert in transforming dental practices, Joe Bhat, a Fellow of the International Team for Implantology and Jas Gill, who was voted in at No.12 in the Top 50 most important people in UK Dentistry.


ABOUT COLOSSEUM DENTAL UK LIMITED
Colosseum Dental UK Limited is the third largest chain of dental practices in the UK, with 80 clinics spanning 19 counties. The company supplies high quality general dental care, as well as specialist services for NHS and private patients. It has more than 900 employees and Associates, including over 250 dental professionals, serving more than 500,000 patients. Its mission is to be the ‘best in class’ dental group in the South of England by providing modern, quality dentistry services for the benefit of patients, dentists, employees, shareholders and striving for continuous growth and excellence. www.colosseumdental.co.uk

  1715 Hits
1715 Hits
NOV
09
0

Managing the dental team during a sale

Managing the dental team during a sale

 

 

It is always a very sensitive time when a practice is transitioning to new ownership. Practice owners can feel a great attachment to their team, having spent time and resource on their development, as well as getting to know them on a personal level. When told the news, team members can feel vulnerable and anxious about what the future may hold and so delivering the right message at the right time is critical for success. 

Before the transition

Whether the proprietor has decided to sell to an individual or a corporate group, the value of the dental team is recognised by potential buyers and they will often seek to retain staff. It is understood that the front-desk team’s relationships with patients adds goodwill, as does the approachable and professional dental nurses and hygienists. If the seller is unable to tell the team of the change early on in discussions, they may want to consider ways in which they can help the team to prepare for the change so that they do not feel exposed when they are told the news. Are the team up-to-date with their training and educational needs for confidence in what they have to offer the new owner? Is their appraisal detailed with all their achievements to date? Have their personal development needs been identified and an action plan put in place? 

All in the timing

When to tell the team about the sale of a practice is a debated subject. Too soon, and it opens up a window for gossip and uncertainty, particularly if word gets out to patients who may then look to switch practices or be reluctant to commit to more extensive treatment. Too late, and the team might feel let down and shocked by the imminent change in management. Unfortunately there is no mathematical equation for working out the right moment and it will vary depending on the individual practice. 

Supporting the team

The team emotions are often one of the heaviest burdens on a principal and so selling to an experienced purchaser who can be trusted to continue looking after all members of staff.  Rodericks Dental, for example, offers a quick completion so that the “secret” does not need to be kept for a lengthy period. Further still, they can visit the practice out of working hours, even at the weekend, and they offer extensive training and support services for all professionals to advance their careers.

Selling a dental practice can opens up great new opportunities for the owner and the team. Managing the team during the transition can be challenging but with the right approach and support, it can go smoothly.

 

For more information please visit www.sellyourdentalpractice.net, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01604 602491 (option 5).

Follow us on Facebook www.facebook.com/rodericksdental,

Twitter @rodericksdental and LinkedIn

  2111 Hits
2111 Hits
NOV
08
0

Is your exit plan in place?

Is your exit plan in place?

 

 

“I first met Dental Elite at BDIA where they were presenting a lecture on practice sales and acquisitions,” reflects Dr Ninan Vettasseri. “Impressed with their experience and knowledge of the market, I decided to give them a call. And I’m glad I did, because not only was Katrina very supportive, but whenever there were hiccups she came up with a solution straightaway.

“If I could go back and do it again, however, I would do two things: Do my homework before putting the practice on the market and spend more time on marketing – the latter of which would have generated a higher completion price if I’d dedicated more time to maximising my practice’s potential.

“My advice to vendors would therefore be to plan well in advance and learn as much as you can about the process – not to mention to keep on track with UDA targets!”

For help planning your exit strategy in advance or selling your practice, get in touch with Dental Elite.

 

For more information on Dental Elite visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  2241 Hits
2241 Hits
JUN
23
0

Simplyhealth signs another 50/50 Dental Partnership

Simplyhealth signs another 50/50 Dental Partnership

 

 

Simplyhealth is pleased to announce it has signed another exciting 50/50 Dental Practice Partnership with Cottage Dental Practice in Ormskirk.

The new partnership between Simplyhealth and Cottage Dental Practice (ormskirkdentist.co.ukwill enable the business based at 58 Moor Street, to further develop, grow and continue to serve its local community.

Closely aligned to Simplyhealth’s purpose of helping people make the most of life through better everyday health, Cottage Dental Practice’s philosophy is to prevent dental problems before they occur, thanks to their team of experienced dentists, hygienists, nurses, and surgeons who are dedicated to helping their patients achieve the best possible dental health. They already have strong relationships with their patients, of whom 2400 are already covered by a Denplan payment plan from Simplyhealth Professionals, providing the additional peace of mind of budgeting for their dental treatments.

 

 

As part of an ongoing commitment to investment and innovation in the dental market, Simplyhealth’s partnership scheme offers dental practices the opportunity to enter into an equal partnership that plays to the strengths of both parties for their mutual benefit.

The partnership model has been designed to enable dentists to retain day to day clinical management and continue the focus on the quality of care provided with Simplyhealth providing support and expertise in business services, development and patient insights gained from their existing successful Denplan services as well as through helping over 3 million people with their everyday health needs across the group.

The model works well for Practice owners looking for a smooth transition into retirement while wanting to retain responsibility for the day to day decisions and clinical delivery.  They can retain the legacy they have built in the community but are able to realise the value of the practice and make the move into ownership less of a barrier for the new partner.

Raman Sankaran, Chief Commercial Officer of Simplyhealth added: “We’re very pleased to have signed our partnership agreement with Cottage Dental Practice in Ormskirk. They are very much aligned to our purpose of helping people make the most of life through better everyday health and we’re both focussed on helping people achieve this thanks to preventative dental care. We’re looking forward to working with Dr Sunny Lathar and Dr Helen Barlow, supporting them with their strategy so they can provide their patients with the best care possible. True partnerships like this mean we can combine the best of our skills and experience, so more patients can lead happier, healthier lives thanks to better everyday health.”

Principle dentists at Cottage Dental Practice, Dr Sunny Lathar and Dr Helen Barlow explain: "We’re delighted that we’ve entered into this new partnership with Simplyhealth Professionals. After 30 years of practicing dentistry, this new partnership allows us to have in place a structured strategy for the medium to long term, while allowing us to maintain the management and direction of the Practice with the additional support and guidance of Simplyhealth. "

 

 

About Simplyhealth
In the world of healthcare, more than anywhere, experience counts. Since 1872 – long before the existence of the NHS – Simplyhealth has been helping people to make the most of life, by managing their everyday health needs.  That’s why today we ensure over 3 million people in the UK have access to the health products, services and support that they need, when they need them and at a price they can afford.

We’re the kind of people who live by our purpose: we’re here to help people make the most of life through better everyday health. We’re proud to be the leading provider of everyday health cash plans, dental payment and pet health plans. And whilst we may be 144 years old, we’re not afraid to innovate. Whereas once we were known purely for cash plans, we now offer a wide range of products and services with one thing in common: an unflinching desire to cater for people’s everyday health needs – now and into the future.

We exist to help people make the most of life through better everyday health. That’s our purpose. We use charitable partnerships to also deliver that purpose, going beyond our products and services, but very much aligned to our business strategy. As a result of our success, in 2016 we were able to donate £1.6m to our charitable causes, supporting 23 different charities including Revitalise, Music in Hospitals, Brainwave Centre and Auditory Verbal, touching the lives of thousands of people across the UK.

Our future success and performance will enable us to deliver our ongoing pledge to donate 10% of our profits to charity every year, supporting health-related charities that share a similar outlook to ours and a dedication to helping people with everyday health challenges make the most of life.

For further information about Simplyhealth please visit www.simplyhealth.co.uk.

 

  2373 Hits
2373 Hits
MAY
05
0

Simplyhealth signs another 50/50 Dental Partnership

Simplyhealth signs another 50/50 Dental Partnership

 

 

Simplyhealth has successfully signed another 50/50 Dental Practice Partnership with, Fox Dental Care based in St Austell, Cornwall.

With around 1,500 dental patients, many of whom are already covered by Simplyhealth’s Denplan dental plans, the partnership will support Fox Dental Care to further develop, grow and continue to serve its local community.

As part of an ongoing commitment to investment and innovation in the dental market, Simplyhealth’s partnership scheme offers dental practices the opportunity to enter into an equal partnership, ensuring that both partners have equal rights in the practices.

The partnership model has been designed to enable dentists to retain day to day clinical management with Simplyhealth providing support and expertise in business services, development and patient insights gained from their existing successful Denplan services as well as through helping over 3 million people with their everyday health needs across the group.

The model works well for Practice owners looking for a smooth transition into retirement while wanting to retain responsibility for the day to day decisions and clinical delivery.  They can retain the legacy they have built in the community but are able to realise the value of the practice and make the move into ownership less of a barrier for the new partner.

Romana Abdin, Chief Executive of Simplyhealth added: “This is a true partnership that is for the benefit of Fox’s Dental Care, patients and Simplyhealth. We’re looking forward to working together as Simon approaches his retirement, growing the business and serving more patients. We want to work in partnership with more Healthcare Professionals so we can seize opportunities and overcome challenges together, while supporting more patients to make the most of life through better everyday health.”

Simon Fox, owner of Fox Dental Care, explains: “Selling a dental practice is an incredibly stressful and complex process, one that I was not looking forward to. However, the help and experience of the Simplyhealth team made the whole thing straightforward.  From first meetings right through to contract signing, I have felt relaxed and supported, which is the same as I have done during the last 25 plus years of working with them. In particular having our dedicated Simplyhealth Business Development Executive, Harriet, always at the end of the phone, has really proved invaluable. Selling the business you've lovingly built up over 35 years to someone you trust and already have a great relationship with has certainly made things easier. I look forward to the coming years in partnership and to my eventual retirement.”

 

For further information about Simplyhealth please visit www.simplyhealth.co.uk.

http://newsroom.simplyhealth.co.uk/

@SimplyhealthUK

Facebook.com/SimplyhealthUK

 

  2446 Hits
2446 Hits
JAN
16

Preparing the Practice for Sale -Alpesh Khetia Rodericks

Preparing the Practice for Sale -Alpesh Khetia Rodericks

Benjamin Franklin, writer and scientist once said, “By failing to prepare, you are preparing to fail”. This philosophy can be applied to many situations, including that of selling a dental practice. Whether you are looking to reduce the burdens you shoulder, or are ready to move on to something new, preparation time put in before the sale can make the transaction much quicker and smoother.

There are many benefits to owning and managing a dental practice, but sometimes the administrative tasks and regulatory compliance can mean dentists lose focus of the reason they entered the profession in the first place –to care for patients. As with any sale, be it a car, house or dental practice, preparation is crucial. Time spent on refining and enhancing the practice will ensure it is sold at its highest possible value, to the right buyer.

The area which can slow down the process is the gathering together of all the necessary paperwork. Time spent ahead of the sale can help quicken this up and make it a lot less stressful towards the end. The main items that need to be made available include:

 

  • Contracts, including staff, equipment suppliers, software suppliers etc.
  • Financial accounts
  • Policies and procedures, including health and safety, infection control etc.
  • Building certificates
  • Care Quality Commission (CQC) documents
  • Price lists

 

Finally, in the preparation stage, do not forget your dental team! It can be a stressful time for all, timing needs to be considered carefully; they should not be told too soon in case the situation changes and staff become demotivated or consider moving on, but equally, you want to leave enough time so as to reassure them that their jobs and their patients will be looked after.

Selling to a dental corporate can often help an independent practice achieve its full potential. Their marketing budgets are larger and therefore they have the ability to reach a wider target audience, but they remain mindful of the existing practice’s ethos and patients. There is also a huge clinical and administrative support system for staff to utilise, with various learning and CPD opportunities readily available that are often subsidised. For example, Rodericks Dental is renowned for its commitment to patient care and treatment, plus, it prioritises staff development and career progression and has a dedicated, experienced team to help you through the transition.

If you wish to take the next step and are looking to sell your practice, make sure you know all your options and have all the information you need to leave your patients and staff in the safest hands.

 

For more information, please visit www.sellyourdentalpractice.net, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01604 602491.

  2539 Hits
2539 Hits
JUN
27
0

Brexit – implications for buying a practice

Brexit – implications for buying a practice

 

The Brexit vote has had an immediate and dramatic effect on the UK’s credit rating and the value of Sterling. The UK is now seen as a less safe place to invest in and less secure to lend money to.

 

PFM Dental Director, Jon Drysdale, says: “The decision to leave the EU could affect your plans to purchase a dental practice and makes it even more vital to have a robust business plan. Lenders will undoubtedly pass on the increased costs of borrowing although against this it unlikely the Bank of England will impose an interest rate rise.”

 

The UK remains one of the world’s largest and strongest economies with good banking liquidity, relatively low unemployment and perhaps the potential for improved terms with global export markets. If you subscribe to this view, the cost of borrowing money will probably stabilise and remain at a reasonable rate.

 

All of this emphasises the need for buyers to examine their business plan and the cost of running a business. Are you being realistic about the interest rate you can achieve? Do your projections stress test for rise in the cost of borrowing?

 

For more information about PFM Dental services go to: http://pfmdental.co.uk

  5555 Hits
5555 Hits
JAN
12

Selling your dental practice: do it right - Portman Dental

Selling your dental practice: do it right

Many practice sales agents will use percentage of turnover to value a practice – which can lead to an unrealistic expectation on which many vendors, particularly those approaching retirement, will base their futures.

 

There is a significant problem with this; a valuation through percentage of turnover is an increasingly unreliable way of valuing a dental practice. It only works on the assumption that the practice that is being sold is just like other practices in the area which, unless it happens to be a predominately NHS practice, is unlikely. Yet the majority of practice sales agents work with this method – and will charge from anywhere between 2-4% for doing so, equating to thousands of pounds in fees.
 

The fundamental issue with percentage of turnover is that it disregards many important factors that may affect the actual value of a practice – factors that you can be sure a buyer (and the buyer’s bank) will be quick to scrutinise, like the type of dentistry being delivered, the quality and state of equipment, the sustainability of the practice and the potential for expansion. In fact, by disregarding these factors, valuation through percentage of turnover begins to look a great deal like guesswork – particularly expensive guesswork – which completely ignores one essential aspect that will ultimately mean more to any buyer than any other: profitability! By failing to take a practice’s overall profitability into account, as well as the assets and the liabilities on the balance sheet, any valuation is bound to be unreliable, unrealistic and, ultimately, unachievable.
 

Why, then, do many practice sales agents continue to use this method? Firstly, it is quicker – a valuation based on turnover can be calculated relatively easily as long as the practice’s accounts are well-maintained. Secondly, the agent’s main objective is to acquire the initial commission to sell the practice, collect the fee and move on. They are not required to become invested in the priorities that the vendor might have – like ensuring the welfare of patients and staff or finding a buyer who can continue to uphold the standards and ideals that the practice has come to represent. Their remit is to find a buyer who is willing to pay and complete the transaction; they have no real reason to search with you for the ‘right’ buyer.  
 

Therefore, finding the right practice sales agent – one who will provide you with a service which is truly represented by the fees charged – is one of the most important elements of selling a dental practice. It can ultimately save a great deal of time, anxiety and cost if you find an agent who is willing to go the extra mile in the first place. Ideally, you need someone who is sensitive to the specific features of your practice and the individual needs you exhibit as a vendor. You need someone who has taken the time to understand your motivations for selling, who understands the overarching philosophy of the practice and duly considers a buyer on these terms and, most importantly, who has the expertise and experience to thoroughly analyse the practice’s accounts in order to establish a realistic and achievable sales price.

 

For more information about joining the Portman Dental team, please visit www.portmanhealthcare.co.uk or call Gary Chapman on 0207 281 9489 or 07966698130

 

Gary Chapman is the Head of Mergers and Acquisitions at Portman Dental. A qualified dental technician with over 30 years’ experience in the dental industry, including running his own dental laboratory and a Harley Street facial aesthetics clinic, as well as working as the Director of Acquisitions at James Hull Associates, Gary has a unique understanding of the profession. He now uses his extensive expertise to help the Portman Dental Group grow and, to date, he has identified all but two of the practices acquired by Portman Healthcare.

 

 

  4379 Hits
4379 Hits
JAN
04
0

Satisfied Sale

Satisfied Sale

“Having previously attempted to sell with another agent, I made the decision to advertise through Dental Elite,” says Patricia Webley who recently sold her practice.

“Within a very short time of the advert going live, I had two interested parties – one of whom viewed the practice and offered the full asking price within days.

“All in all the process took eight months to achieve completion and I am very happy with the services provided by Dental Elite.

“As my point of contact throughout the negotiations, Leah Turner ensured that all the necessary administrative requirements proceeded smoothly.

“What’s more, she liaised between both parties to make sure agreement on all issues were swiftly resolved.

“She also recommended a dental-specific solicitor who proved to be very helpful.

“I would be very happy to recommend Leah Turner and Dental Elite to anybody wishing to buy or sell a practice.”

To find out how Dental Elite can help you sell your practice, contact the team today.

 

 

For more information and to find out how Dental Elite can value
and assist your practice sale visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  2759 Hits
2759 Hits
JAN
03

Understanding geographical variations - Christie + Co

Understanding geographical variations - Christie + Co

Geography can play a significant role in the success of any practice transaction. From regional variations in value, demand and activity to patient demographics, understanding the local trends and market characteristics are all vital when ensuring the optimum transactional outcome. 
 

Christie + Co has specialists in 16 locations across the country, providing convenient, reliable access and insights into the local markets. For instance we understand that the areas that see the most interest are London and the South East, with the Midlands and some areas in the North also experiencing very high demand. This causes significant regional variations in practice valuation and it seems that the closer you get to the extremities of the UK, the more values ‘fall off’.
 

With years of experience valuing businesses across many market sectors and experts located across the UK, Christie + Co understand the significance of local knowledge. So if you’re looking to purchase a practice and want to ensure you make the most appropriate decisions based on in depth local and national insight, contact the experts at Christie + Co today.
 

To discuss how Christie + Co might help you achieve your future plans please contact Simon Hughes on 020 7227 0749

  2334 Hits
2334 Hits
DEC
22

An invaluable service - Dental Elite

An invaluable service - Dental Elite

We all have the dream of owning our own practice, however the thought of making that transition is often frightening.
 

My first thought was, what can I afford? The only loan I’d ever got was for my home, and that was in the days banks were handing out money to anyone and everyone. This is where Dental Elite (DE) Finance, and in particular Becki, were invaluable. Long before I found the right practice, Becki had taken all the relevant information from me and let me know what I could realistically expect to get from the banks given my circumstances. This really narrowed down my search criteria, allowing me to stop wasting time on those practices that were out of my reach.

This was to be my first acquisition, for a reasonably sized practice in South Yorkshire with a healthy NHS contract. Before committing, DE Finance ran through all the figures again, ensuring the purchase was financially viable, before we moved forward.

In between dealing with the sellers and our respective solicitors, as well as having to turn up to work each day, I didn’t have time for much else. In DE Finance I felt like I had a PA, with Becki contacting all the major banks (and some I’d never heard of) on my behalf, leaving me to get on with other things. I left Becki to fight my corner as to why they should lend someone who has never run a business, let alone a dental practice, such a large sum of money. This I thought was going to be the most stressful part of the purchase, but it turned out to be the easiest.

Becki had influential contacts in all the right places, and offers from the banks quickly came rolling in. More importantly, because Becki was involved, the banks knew they would be competing against each other, and subsequently provided offers at fantastic rates. I certainly didn’t have time to approach all these banks myself, nor would I have received the rates I did.

Things didn’t end here however. Becki followed the process right through to completion and beyond. She was always there when I needed to contact her, even out of work hours. When the bank was labouring with the sale at times, she would intervene on my behalf and get her contact to push things along. It was great just being able to pick up the phone when I wasn’t sure about something, to receive some expert guidance, or even just some much needed reassurance.

Would I recommend Becki? Absolutely, without hesitation. I know who the first person I ring will be when I’m ready to make my next acquisition, even if it’s not a dental practice. And what did this fantastic service cost me? Nothing, not a penny!

Thank you Becki for making this whole process so easy for me.

- Imran Ahmed

 

  2455 Hits
2455 Hits
NOV
23

Why your first property is not an impossible dream - Richard Lishman

Why your first property is not an impossible dream

By listening to the right advice, and being organised, purchasing your first property is an achievable goal. At the beginning of your dental career, when you have begun to put down roots in a practice, buying your own property will be the next obvious step. Of course, there will always be issues in the wider economy that may complicate the process, but it is always possible to overcome these.

 

One-hundred per cent mortgages are almost obsolete nowadays and the chances of them coming back are slim indeed. Low-deposit mortgages are still out there, and there are schemes you may not know about that can help of which you may be unaware. For example, the Government offers Help to Buy equity loans schemes, which are available to first-time buyers on newly built homes in England. You will need to contribute 5% of the property price while the Government provides a further 20% and then a mortgage covers the rest.

 

However, even with a low-deposit mortgage, your savings may not be enough. Many first-time buyers ask their family for help, but it is always prudent to document the arrangement thoroughly so everyone knows where they stand. The bigger the deposit you have acquired, the more options you will be offered. When you are looking at your savings, or when you are planning out how much you will need to save, you must not overlook all of the additional costs incurred when buying a property, such as mortgage arrangement fees and stamp duty.

 

In the current financial market, first-time buyers might benefit from a fixed-rate mortgage. With the Bank of England set to increase the base rate in 2016, anyone on a tracker mortgage will see monthly repayments go up. And with interest rates predicted to rise, if you are on a variable rate mortgage, you may find yourself struggling with repayments. One of the advantages of fixed-rate mortgages is peace of mind. You have no idea how your financial priorities may change over the next few years, so if your mortgage repayments are static, so much the better.

 

Of course, any advice on home-buying needs to be tailored to your individual circumstances. This is where working with an Independent Financial Adviser (IFA) can be most beneficial. By seeking out an expert who has experience of working with dental professionals, such as one of the IFAs at money4dentists, you can be assured that the advice you receive will be specific to the challenges you face.

 

Your first step onto the property ladder is just the start: by getting the right advice at this stage, and maintaining the relationship with your IFA, you can progress to making more personal and professional financial decisions in the future.  

 

For more information please call 0845 345 5060 or 0754DENTIST.

Email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.money4dentists.com

 

  2225 Hits
2225 Hits
NOV
02

“I’m singing their praises.”

I’m singing their praises

“I was very happy with the service I received from Dental Elite,” says a Principal from Sussex who has recently sold their practice. “My representative was very supportive and I found it extremely valuable to be able to deal with the same person throughout the whole process.

 

“I thought the valuation process went very well and I was pleasantly surprised at just how flexibly the figures could be analysed.

“I would highly recommend Dental Elite to other professionals – in fact I’m singing their praises to all of my colleagues.”

Dental Elite prides itself on being able to offer dental professionals honest and pragmatic advice when it comes to selling their practice. With a wealth of hands-on experience and a dedication to seeing a job well done, the friendly team at Dental Elite are always ready to help.

To find out just what they can do for you, contact them today.

 

For more information and to find out how Dental Elite can value
and assist your practice sale visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  7415 Hits
7415 Hits
OCT
09
0

Christie + Co sells Jordan Dental

Christie + Co sells Jordan Dental

In one of the largest transactions of the year to date, specialist dental adviser Christie + Co has sold six dental practices based in the East Midlands operating as Jordan Dental.

Jordan Dental is a progressive and well run group of predominantly NHS practices in excellent locations in Nottingham, Derby and Mansfield. The portfolio has been sold to {my}dentist, the largest corporate operator in the UK. The price was undisclosed.

Acting for the Jordan family, Christie + Co undertook a confidential marketing process from which {my}dentist was chosen as the preferred bidder. Clare Emery, Senior Associate at specialist solicitors Harrison Clark Rickerbys acted for the vendors.

Simon Hughes, Director and Head of Medical at Christie + Co comments: “I am delighted that Christie + Co was chosen to act for Dave Jordan in the sale of his business. He took advantage of strong market conditions and we were able to agree and conclude terms much more quickly than can often be the case with NHS practice sales. We wish {my}dentist the very best with their acquisition which gives them a significant and quality presence in the Nottingham dental sector.”

Dave Jordan of Jordan Dental comments: "It was a pleasure working with Christie & Co, the team showed great understanding of our needs and guided us through the difficult decision to sell something that we had worked so hard to build from scratch. I wish the team at {my}dentist every success in the future and trust that the group will continue to flourish as part of a much bigger operation."

Robert Pilling, Director of Acquisitions at {my}dentist adds: “I am delighted with the acquisition of the Jordan Dental Group and look forward to working with the practice teams over the coming months and year ahead. I would also like to extend my thanks to the Jordan family on choosing to sell to {my}dentist and also to the Christie + Co team who supported the acquisition process in a very professional manner.”

 

 

 

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