More than just a valuation!
How much is my practice worth?
What is my EBITDA?
How can it be worth more?
Who is it worth this much to?
How can I gain the best overall exit package?
If you don't know the answer to any of the above questions then get healthchecked!
What is it?
The
concept of the healthcheck is to inform principals of the value of their dental
businesses and how this value is derived, offering advice on how to improve
this valuation over a period of three months to three years. Dental Practice
Goodwill has been turbulent in recent years and the sector is undergoing a
period of consolidation.
We
agree with the view held by many dental gurus that the dental practice sector
will be led by four to five key dental corporates within the next ten years and
the recent merger of ADP and IDH only add weight to this theory.
Whilst
not everyone will embrace the corporate mentality, it is having an affect on
the value of dental practices and the way in which they are valued. Gone are
the days of selling your patient list for 30% of your annual gross fees.
Practices now more frequently changing hands for values in excess of 140% of
gross turnover but some still change hands for as little as 40%. We aim to work
with our principals to ensure they reach the maximum for their dental business
and demonstrate that the basis of this valuation is moving away from
percentages of gross to multiples of EBITDA.
When should I have one?
As
detailed above, the dental practice market is ever-changing and it always worth
keeping an awareness of the practice value. Ultimately the healthcheck also
advises on efficiency and profitability so this can be worthwhile at any time even
if your not considering selling.
How much does it cost?
We will visit any dental
practice with a turnover of more than £100,000 to conduct a practice
healthcheck free of charge at a time that suits the owner.
Why is it free, what
is the catch?
We
believe in building long-term relationships with our clients and ultimately
everyone has to sell at some time. We will come to visit the practice in the
hope that we will have provided you with a comprehensive and efficient enough
service that when the time is right you will come back to us to sell your
practice.