Following the recent news that heavily private dentistry focused Portman Dental Care is up for sale could this present an opportunity for independent dentists or those looking to buy or set up their own practices?
From a recruiters perspective, the current skills shortage in dentistry is severely impacting the ability to recruit for the larger dental chains.
To an extent, you could understand the issues for chains that are heavily focused on NHS dentistry with fixed value contracts, but are private groups struggling to recruit and retain staff? You only have to take a look at the large volumes of jobs being advertised by the larger groups to answer that question.
Here at Blue Sky People, we work with a select number of dental groups – particularly those offering career development opportunities for younger dentists finishing DF1 or DCT placements, who benefit from ongoing support and quality training.
There is certainly a place in the market for high quality, customer focused dental chains and we work with a number who can offer great opportunities to dentists.
But, with seemingly no end in sight for consolidation in the market and huge appetite from Private Equity investors fuelling the market, now could be the perfect time for dentists to consider buying a practice, or indeed setting up a squat business.
While some would suggest that the UK dental market is sure to follow the Pharmacy consolidation model, is that really the case? The unique relationship that dentists have with their customer base combined with the convenience that patients expect in being able to access their local dentist, means that there are still terrific opportunities for dentists to operate independently.
Dentists selling their practices to the likes of Portman Dental Care are typically closer to the end of their careers than the beginning and are usually tied in post sale for periods of up-to 3 years. With advanced clinical skills sets, they will be sorely missed by those practices when they decide that life in “corporate” dentistry is not what they signed up for – after perhaps 15-20 years of working for themselves.
With strong appetite from healthcare lenders funding independent dental practices and squat businesses for skilled and motivated dentists – the big banks clearly believe that there is still significant room in the market for independent dentistry.
Looking after the careers of dentists for close to 15 years, Blue Sky People recognises that a significant number of our clients are now considering buying or running their own dental practices.
We appreciate the challenges that buying and owning a practice presents and through our partnerships with the 4dentists Group – we have access to an unrivalled panel of experts to help dentists through the acquisition and business management process.
From financial planning, funding, business planning, practice finding, building and planning, construction, negotiation support, legal due diligence, accounting, marketing, websites and SEO, staffing, business support, compliance through to practice plans, our partners are uniquely qualified to offer you advice and support.
There are still some great opportunities for dentists to make the transition from Associate to Owner and create your own career pathway. You may even have the ambition to build your own dental group.
To find out more about how Blue Sky People can help you with dental practice acquisitions and sales please call us on +44 (0) 1491 845511.