Award-winning Edinburgh dental practice sold to Dentex
Specialist business property adviser, Christie & Co, has announced the sale of Meadowbank Dental Practice in Edinburgh.
With an even mix of NHS and Private income, Meadowbank Dental Practice comprises eight surgeries and sits in a beautifully converted Grade 3 listed building in the neighbourhood of Meadowbank in Edinburgh, which is seeing much continued growth and investment, including the development of thousands of new homes as part of various city regeneration projects.
This award-winning practice has a top-class reputation and has been uniquely recognised by a motion in the Scottish Parliament giving national recognition for its involvement in health improvement in Edinburgh.
The practice has been owned by Dr Martin and Dr Humsha Rice since 2006. After a confidential sale process and multiple offers received, Meadowbank has sold to Dentex, one of the largest dental corporates in the UK with a unique partnership offering.
Dr Martin Rice comments, “We started the practice in 2006 after taking on the premises which had previously been an antique shop and fireplace showroom. It was an amazing property in the right location. The east end of Edinburgh is a thriving multicultural location and was exactly where we wanted to put down roots and establish our own practice. It grew from two surgeries to eight surgeries over the course of 15 years, with the help of our amazing team.
“We feel so lucky to have become an integral part of the local area and to have been able to provide such an essential service to a diverse community. We realised that, as the practice had grown, so had the administrative burden, and that a practice like ours needed the support of a bigger organisation to continue to thrive. We are delighted to have found a partner that we know is the correct fit for Meadowbank Dental Practice and are excited about developing our team and the services we provide further.”
Speaking on behalf of Dentex, partnership & acquisition manager, Chris Lekkas, comments, “We are so pleased to be partnering with Martin, Humsha and the team at Meadowbank Dental Practice. The practice has an exceptional reputation, is situated in an extremely desirable location, and the highly skilled team offer a wide range of treatments for all patients, both NHS and private. Our fifth partnership in Scotland and the first in Edinburgh, Meadowbank Dental Practice is the one-hundred-and-tenth practice to join Dentex. We are very excited to have the team on board and look forward to working with them to continue their success and growth. Thank you to everyone involved in helping deliver this deal.”
Paul Graham, head of dental at Christie & Co, who handled the sale, comments, “I worked with Martin and Humsha over a number of years before they decided to bring the practice to the market, so it was fantastic to be part of this high-profile sale. The sale process was competitive and was not hindered in any way by the pandemic which is both a testament to the brilliance of the practice and the incredibly strong appetite from buyers in the market.”
Meadowbank Dental Practice was sold for an undisclosed price.