Buying Multiple Dental Practices – What to Consider

Expanding current dental practices is not the only way of scaling a dental business. I have worked with many clients who found that the best option for them was to buy further dental practices. The one thing I will say is that this can be a complex process and it’s one which it’s not always easy to get right. No-one wants to put an already successful business at risk, so considering mergers and acquisitions carefully is important.

Have the right team in place

No matter how long a dental professional has been in business, they are not best placed to make the most well-informed choices when it comes to legal and financial implications. It’s important to put a professional team in place, before entering into a deal to buy further practices and merge them with the current one.

The team should include dental solicitors and dental accountants who can make sure that the deal is a solid one, that all relevant information is disclosed and that contracts include all agreed aspects of the deal.

Work that needs to be done for a successful acquisition or merger

There are several tasks that should always be completed, if an acquisition or merger is to be completed successfully and a dental practice business is to continue to thrive.

  • A plan should be created that helps with the purchase of further surgeries and deals with the structure of the business after the acquisition.
  • An analysis should be completed, of the services currently being carried out at the surgery that is to be acquired. Is it a good fit in the current plan for the business?
  • A detailed review of the proposition should be drawn up, so that any potential issues can be identified.
  • An implementation plan should be drawn up, so that any acquisition or merger can happen without any significant negative impact on the business as a whole.

Over the years, I have seen the value of this work first hand, working with clients to ensure that scaling their business is the positive experience that it should be.

More on Buying Multiple Dental Practices

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