Carlyle Tests Appetite For £1bn Dental Chain

£1 billion = £1 million x 1000. Divide that by 570 and the average practice would be worth £1.754 million. Now I realise that there is no such thing as the average practice but that seems a lot of money to me.  Could the anticipated change in dental contract influence this move? Interesting times indeed.

Carlyle Tests Appetite For £1bn Dental Chain

From Sky News

Britain’s biggest privately-owned dental chain is heading for a sale or stock market flotation that could value it at a mouth-watering £1bn.

Sky News has learnt that the owner of Integrated Dental Holdings (IDH) has asked investment banks to pitch for a role advising it on a deal later this year.

IDH, which has a network of 570 dental practices in England, Scotland and Wales, is majority-owned by The Carlyle Group, one of the world’s biggest private equity investors.

IDH calls itself the biggest dental corporate organisation in Europe, focusing primarily on NHS patients but with private and specialist practices as an increasingly important revenue stream.

According to bondholder filings for the final three months of 2013, earnings before interest, tax, depreciation and amortisation for the financial year to date rose by 21% to £48.7m.

The company was founded in 1996 by Luke Johnson, the entrepreneur who previously owned Pizza Express and who is floating Patisserie Valerie on the London Stock Exchange.

Mr Johnson and his partners sold IDH in 2006 for just over £100m, with the private equity arm of Merrill Lynch among its subsequent owners.

The company was created in its current form from the amalgamation of IDH and Associated Dental Practices in 2011, and now treats millions of patients each year.

IDH’s biggest rival, Oasis Dental Care, is also owned by private equity funds having been bought by Bridgepoint last year in a deal worth £185m.

Carlyle is examining exits for a number of its investments, including the RAC breakdown recovery service, as Sky News reported earlier this month.

The buyout firm declined to comment.

The Monday Morning Quote #265

“Coming together is a beginning,

staying together is progress,

working together is success.”

Henry Ford

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Thanks to Ian Smith at Visage Dental Laboratory for reminding me of this.

Another offering for your Facial Aesthetic clients?

This will be of particular interest for those dentists who provide facial aesthetic treatments; although my purely anecdotal opinion is that there are far more trained to carry out the procedures than can find willing participants. I think it’s really more of a marketing problem than anything else, “something to do with the D in BDS” as one of my clients said.

From this weekend’s FT, in the ‘how to spend it’ magazine, is an article by the previously anonymous ‘Spa Junkie’. She has retained her anonymity until now as she is not a professional journalist receiving free treatments, but rather a private client who paid her own way. It turns out that her name is Inge Theron and she has launched her own concept – The FaceGym.

Not be confused with Face Gym of course.

I was taken with one of her statements “we are living longer and I’m not sure that injectables are the best way to preserve our looks.” She goes on to list some complications that she has suffered with injectables, which can only reinforce the prejudices of sceptics.

This is where my interest was raised on behalf of the dental community. Here are a few extracts from the treatment, the full article is available here.

Inge says, “when you go the gym, a unique set of interval-training exercises can make your muscles lengthen and your body change. I am applying that same logic to the face, creating a micro-contouring, muscle-stimulating cardio, strength and interval-training routine.”

The stages of what is described as a ‘workout rather than a facial’ start with a 5 minute ‘Warm up’ where there are ‘knuckle twists’ around the eyes, cheeks and jawline to get the blood flowing.

Next comes the ‘Cardio’ section working on the muscles of facial expression (my interpretation.

The third step works on strength, is based upon the principles of high-intensity interval training and sounds like like a cross between massage and osteopathic therapy.

It’s the next part of the session, described as ‘mouth work’, that may raise eyebrows in the dental community, although for the client that may be part of the benefits.

I quote verbatim:

“My therapist puts on gloves and places the fingers of one hand inside my mouth. She puts her thumb on the roof of my mouth, and the palm of her other hand on the top of my head, to feel my stress points. She presses hard to relieve tension and widen the palate. The sensation is both stretching and decompressing. Her movements are slow and controlled. She turns my head to the side and repeats the action with her forefinger, working to lift my masseter and zygomatic muscles away from the bone at the back of my jaw – first on one side of my mouth, then the other. She explains that the technique relaxes the “fascia”, the tissues that surround the muscles and can become stuck together. Apparently, my masseter muscles are tight and my temporal muscles really stuck. As she moves them away from the bone, it is mildly painful (I whimper a few times), but I can feel the separation. When she takes her fingers out of my mouth, my jaw movements are less tight and more fluid and I can sense the extra space created.”

Finally the session concludes with a ‘Cool down’.

Make your own mind up, at present this is limited to a few salons but if you offer facial aesthetes than you really should be aware, be prepared to field questions from your clients and perhaps be ready to offer the treatment.

Me, I’ll stick to running in the soft rain and wind of West Cork.

The Monday Morning Quote #264

“All things are ready if our minds be so.”

Henry V

The Monday Morning Quote #263

“Any intelligent fool can make things bigger, more complex, and more violent.

It takes a touch of genius – and a lot of courage – to move in the opposite direction.” 

Albert Einstein

The Monday Morning Quote #262

“It is not true that people stop pursuing dreams because they grow old,

they grow old because they stop pursuing dreams.”

Gabriel García Márquez

B. 6 March 1927 – D. 17 April 2014

RIP

Gabriel Garcia Marquez with Book on Head

The Weekend Read – The Examined Life by Stephen Grosz

41D-6ju+GUL._BO2,204,203,200_PIsitb-sticker-arrow-click,TopRight,35,-76_SX385_SY500_CR,0,0,385,500_SH20_OU02_Growing up in non-conformist Wales in a Catholic household meant that Good Friday was a black day. No shops, no pubs, no cinema and no newspapers. I was told it was because this was the day that Jesus was crucified and it should be treated with solemnity.

The habit has stuck – to a certain extent. I find Good Friday a day that still invites reflection and this book is a good choice for this weekend read. I believe that its title is taken from a quote attributed to Socrates, “The unexamined life is not worth living”. The premise of some case stories from a psychoanalyst may not fill the reader with anticipation but this book is  a gem.

Stephen Grosz tells the stories of everyday people who have for a variety of reasons arrived in his consulting room seeking help. From the lovesick to the suicidal he recounts their tales in a manner that is both easy to read and thought provoking.

The phrase “truth is stranger than fiction” came to mind as I hurried through this book for the first read and then forced my self to take it more slowly second time around. In my coach practice I am always listening for what isn’t said, if you like I search for the gaps between the words and the underlying meaning of the language, the writer is obviously supremely skilled at just that.

His conclusion, that if we can work out what’s driving us, then change is always possible, resonated with me personally and professionally.

If you work with people or just interested in how they function then this is a “must read”.

 

Available from Amazon here.

The Incisal Edge Podcast Interview #3 – “the Dhrucast” with Dhru Shah of Dentinal Tubules

220x123-p9eThe interviewee on the Incisal Edge Podcast this week is Dr Dhru Shah. In addition to being a specialist periodontist Dhru is the founder of Dentinal Tubules which has grown from a board for advertising job vacancies to huge resource for continuing professional development.

www.dentinaltubules.com

“Share. Learn. Connect”

Join us and listen to Dhru talk about his past, the current state of play with Dentinal Tubules and his plans for future projects which will dwarf the current set up.

Don’t forget you can subscribe to the podcast via iTunes.

The Monday Morning Quote #261

“Do not go where the path may lead,

go instead where there is no path and leave a trail.”

Ralph Waldo Emerson

Cartoon by Hugh MacLeod of Gaping Void Cartoons

ralph_waldo_emerson

Australia urged to pull up the “Dental Drawbridge”.

IMG_0761

From Time Higher Education 10th April 2014.