Buying a practice?
Buying a dental practice is both exciting and potentially stressful.
Our advisors can help you plan carefully and stay on the right path.
Marketing the practice
The seller or agents market the practice. Register with agents to prioritise suitable options based on your preferences.
Assemble Your Team
Have advisors evaluate the proposal and guide you during the viewing process. This prevents rushed decisions and ensures due diligence.
Know Your Budget
Understand your finances and potential lender support for negotiating and pricing the practice. For practices with property, involve a surveyor early.
Assess its Value
Examine the vendor’s valuation model and credentials. Various methods factor in turnover, profits, and the reason for sale.
Agree on Terms
Agree on preliminary terms (Heads of Terms) and consult your solicitor to verify them.
Understand the Purchase
After financial and legal due diligence, the Sale & Purchase Agreement (SPA) is provided. Clarify whether you’re buying the company or its assets.
Details in SPA
The SPA should cover:
- Reliable business information, including recent Management Accounts.
- Patient details.
- Valuation specifics (excluding damaged stock).
- Seller warranties and non-competition clauses.
- Property ownership, leases, planning, and repairs.
- Equipment details.
- Employee information under employment regulations.
Finance the Purchase
If using a lender, choose healthcare-specialised representatives. Your solicitor guides you on loan agreements. Have your accountant prepare financial projections for the new practice.
Involving experts and being thorough in each step helps ensure a successful dental practice purchase.
