On Private Equity-Owned Dental Practices

The boom and bust of private equity-owned dental practices in the U.K …. Lessons to be learned?

By Darrell Kellus Pruitt DDS

“Why the dental business became more and more like pulling teeth,” by Harry Wilson, City Editor of The Times (U.K.)

Describes problems caused by agreements made between investor-owned dental groups and the government. Neither the investors nor government officials – the stakeholders – will suffer the inevitable permanent harm. The losers are dentists and patients – the principals.

https://www.thetimes.co.uk/article/why-the-dental-business-became-more-and-more-like-pulling-teeth-vdrs0nwrr

Wilson:

If you are an NHS dental patient, there is a better than one in ten chance that you are a customer of Integrated Dental Holdings, better known as Mydentist.

The private equity-owned dental practice owner has grown nationwide in a dozen years of debt-fuelled buying that has made it the biggest dental services company not merely in Britain but Europe. In the past seven years alone, Mydentist has acquired 237 dental practices, increasing its network to more than 600.

Yet having grown so rapidly in the recent past, questions now are being asked about its future. Results last month showed why, as revenues fell for the third straight year, while pre-tax losses nearly doubled to £144 million. With more than £1 billion of debt, including hundreds of millions in shareholder loans to The Carlyle Group and Palamon Capital Partners, its private equity owners, Mydentist said that it would not be buying any more dentist surgeries for the time being. (more).

———————

Bringing it home:

Rumors of “Medicare for all” are in the air, making your support of Texas Dentists for Medicaid Reform very worthwhile, Doc.

https://www.tdmr.org/about-tdmr/

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