=
HS Financial Services - A dental practice in Greater London has been sold during a pandemic
A dental practice in Greater London has been sold during a pandemic


A dental practice in Greater London has been sold during a pandemic.



Specialist dental broker advisors MediEstates completed the sale of Feltham Dental

Established in 1982, the business Feltham Dental is an integral part of the community and has many generations of loyal patients.

The previous owner, Dr Rai Desaur, made the decision to sell in order to pursue other interests within the industry, including providing mentoring 
and training courses to young dentists with a view to semi-retiring.

The business has been purchased by an independent dentist.

Dr Desaur said: "It was very hard to decide to sell, especially in the middle of a worldwide pandemic and I will certainly miss my very capable team. It has been an absolute privilege to work with such professional colleagues – they are amazing and the buyer is a perfect fit to continue my dental practice and look after the team and patients. In addition, I was very worried about the impact of COVID-19 on my sale but my solicitor Helen Wong of Charles Russell Speechlys really helped to guide the way, explaining the process and protecting my position especially in respect of any COVID warranties. More importantly, she helped to keep the deal on track and I am so thankful to her for helping me sell my dental practice. She has been available to assist all hours of the day, she is friendly, tenacious and I would highly recommend her as she knows dentistry law and the ever changing policies that continue to surround this sector.”

Shannon Loonam, Senior Transition Specialist at MediEstates was supporting the Feltham Dental transaction and said: “It has been a great honour to work with Dr Deasaur on this transaction. His collaborative approach with the buyer has certainly helped move the transaction through.”

Dr Desaur said: “Shannon has great energy and enthusiasm to bring my sale to reality.”

Helen Wong MBE, partner of Charles Russell Speechlys said “I wish Dr Desaur well and it has been an absolute pleasure to work with him to complete this sale. The pandemic has brought much uncertainly for all parties and it was important to assist Dr Desaur to ensure he got a clean break even during these very uncertain times.” Despite the pandemic Helen and her dental team have picked up over 40 transactions over the pandemic and have seen an influx of associates and first time buyers buying a dental practice. They have also been hosting webinars and writing articles to help dentists with furlough, claiming off their insurance and avoiding the pitfalls when selling a practice during COVID-19.

 

Posted by: Phillip Barker on

General Buyer Terms

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 2018. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
Your shortlist contents will be included in this contact submission