=
HS Financial Services - Independent dental group celebrate latest practice purchase
Independent dental group celebrate latest practice purchase

Independent dental group celebrate latest practice purchase

Independent dental group celebrate latest acquisition

Devonshire House, the specialist dental referral practice in Cambridge, has become the latest acquisition for Riverdale Healthcare, a growing independent dental group.

With 12 surgeries and 14 specialist dentists, Devonshire House supports more than 200 referring practices. As well as providing family dentistry for its own patients. Advanced techniques and equipment allow the team at Devonshire House to be at the forefront of clinical dentistry, using the latest technologies to provide the highest level of care.

Julian Martin of a former partner and now clinical director at Devonshire House. He said: ‘I am delighted that we are aligning ourselves with Riverdale. They share the long-established mission of the whole Devonshire House team to continue to develop the practice in exciting and rewarding ways.

We will continue to support our network of referring dentists as comprehensively as before, with the aim of enhancing expertise for everyone. We are looking forward to welcoming our colleagues back to Devonshire House when the pandemic allows.’

State-of-the-art learning

A key focus for Devonshire House is providing state of the art learning, with regular hands-on training and mentoring opportunities. These are delivered by both the in-house team and external partners for dentists, hygienists and dental nurses.

The practice’s own onsite dental laboratory employs eight technicians. It is fully equipped for digital dentistry with design, milling and 3D printing capabilities.

The lab offers a full-service supporting implant dentistry from provisional design; through scanning and surgical guides, to finished units and sophisticated full arch bridges.

Emma Barnes, CEO of Riverdale Healthcare, who is personally managing the integration announced: ‘We are thrilled to have Devonshire House recognise the synergy of our ethos and values with their own.

‘This is a really exciting acquisition. We are delighted that the partners, who were courted by other dental groups, have chosen Riverdale to support the practice team.

‘We are on an exciting journey at Riverdale. With the addition of Devonshire House, we are charged for a year of opportunity and positivity.’

Streamlined

The deal was backed by healthcare investors Apposite Capital and managed by Pinsent Masons. It sees the group now stand at a total of 27 practices. Chief investment officer, Chris Aylward added: ‘We have established a fantastic team with Pinsent Masons and Hazelwoods Accountants. This has streamlined the process.

‘Currently, we are actively speaking with dental practice owners who want to learn more about Riverdale Healthcare and how we can support their exit strategy.’

MediEstates

MediEstates have had a close working relationship with Devonshire House for a few years and when the time was right to make the decision to sell the business MediEstates understood the intricacies of this large and successful practice. Dean Barker worked with the practice Directors to understand their business and their post-sale requirements, enabling him to attract the right buyers for the practice requirements.

 

MediEstates work with buyers across the whole of the dental sector, and for a practice as desirable as Devonshire House, there was no shortage of interest. Once the perfect buying partner was agreed, Dean and the MediEstates team worked closely with Riverdale Healthcare to ensure a smooth acquisition process and the best possible outcome for both parties. The process took a total of 3.5 months and MediEstates extends their congratulations to both Riverdale Healthcare and Devonshire House.

 

If you are thinking of selling your practice, and would like expert advice contact MediEstates who will create a successful outcome for your future.

 

Source: https://dentistry.co.uk/2021/04/01/independent-dental-group-celebrate-latest-practice-purchase/

Posted by: Riverdale Healthcare 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