While due diligence primarily protects buyers, it is equally crucial for sellers during the sale of a business. Effective due diligence can facilitate a smoother transaction. Identifying the key areas of due diligence specific to selling a dental practice, will...
What do we mean by “Squat practice”? Squat practices are dental practices that are set up from scratch and are often established in an empty property or a property that is used for another purpose for example a retail unit, residential property or office building. A...
Just like life, the market conditions for the sale of a dental practice go in a cycle – once popular NHS practices no longer are in favour over private specialist practices. Where does that leave most sellers, and how does the process of selling affect this? When I...
Who is selling? It is often assumed that a selling dentist is someone who wants to retire and stop practising clinical duties on handing over the keys; rarely, do we see this in today’s market. A dentist looking to sell tends to be someone who has decided...
I am a first-time buyer, what CQC applications will I need to have in place to facilitate my dental practice purchase? The CQC application is onerous and will require a substantial amount of preparation prior to submission. The first application is the primary one and...
When negotiating contracts when selling or buying a property, there will be some specific provisions with regard to dental transactions that only arise in this sector. That is one of the most important reasons why you must use an experienced solicitor. Here, we take a...
For years now, NHS Dentistry has been ripe for reform, with the government promising time and again to give the system a complete overhaul. Finally, it appears that some changes could be on the horizon. Within the past week, Maria Caulfield MP made a House...
When purchasing a dental practice, a key element of the process is ensuring due diligence. Examining all aspects of the business enables you to fully understand what you’ll be taking on when the sale completes. Here, we take a look at what you need to do to ensure...
With the news that a thousand NHS dentists have left the health service in only one year, the number of dentists now operating in the UK is at its lowest level for ten years. In 2019-2020, England had almost 25,000 NHS dentists, however during the...
Dental leaders in Scotland have said that the patient backlog to receive NHS dental treatment is huge. The official data has revealed that people living in better-off areas have a greater chance of getting an appointment with a dentist during the past two years when...
The global pandemic has caused chaos in every industry, and the purchase of dental practices is no exception. Research has shown that the average time between a buyer making an offer, and the completion of the purchase of a dental practice has increased. In many cases...
Are you a dental practice considering the sale of an NHS contract? We provide a guide on how to sell your NHS dental contract and the various options available. If you’re in dental practice and have an NHS contract, it is possible to sell and transfer the rights, but...
Who, what and when?
While buying or selling a dental practice is largely the same as buying or selling any small business, there are a number of additional considerations that come into play for dental practices. Here, we highlight some of the considerations for a first-time buyer or seller of a dental practice, to help both parties prepare for the transaction well in advance.
The best way to prepare for the sale of your business is to be well informed: this will allow you to take the necessary steps to get the highest possible sale price for your business. With this in mind, our experienced solicitors have compiled an overview of the key points to consider when preparing to sell your business.
TUPE is an acronym for the Transfer of Undertakings (Protection of Employees) Regulations, which are designed to protect employees if the business they work for changes ownership or if there is any change in service provisions.
Due diligence is of paramount importance when buying any business, but when purchasing a dental practice, there are various additional factors that come into play. Examining each of the elements will help you determine the true value of a practice, comply with the statutory requirements of the UK’s General Dental Council, and ascertain which warranties or indemnities will be needed in your sale and purchase agreement.
Due diligence is an integral part of any acquisition, allowing the buyer to thoroughly investigate every facet of a target company in order to ascertain its true worth. Here, we explain why investigating the social media worth of a target company should be a core component of the due diligence process.
Although due diligence is, generally speaking, intended to protect the buyer, it is equally important for the seller when negotiating the sale of a business, as it can streamline completion of the sale. Here, we give an overview of the areas of due diligence specific to the sale of a dental practice, to prepare you for the enquiries and demands you can expect from a prospective buyer.
Although it seems a long way off when you’re starting up, your exit strategy is one of the most important aspects to consider when building your business. A suitable exit strategy must be planned well in advance so that all of the necessary elements, like succession planning and appropriate pension schemes, can be put in place.
