New functions, additions and services
In addition to the changed design and layout of the pages, new functions, additions and services we offer have been implemented:
Practice sales details
The information on the practices for sale has been redesigned to show potential buyers a more comprehensive view of the practice. We understand that as a buyer it is very interesting to get an overview of the current market to enable a correct decision. This, along with additional searching functionality, allows buyers to drill down to the practices they really are interested in.
Mediestates believes in transparency. The website shows an analysis of the number of buyers registered per tier along with the types of practices they are interested in.
Practice marketing intelligence
Practice marketing intelligence How hard do we work to sell your practice? All clients who decide to sell their dental practice through us can receive a monthly updated practice marketing report so they know what is happening. This report will give you the numbers on: calls to prospective buyers, brochures issued, brochure feedback, website practice views, emails sent and received, viewings and offers, client file database entries, text messages sent and summary sheet.
Buyer viewing days
With most vendors having a very busy schedule, we have exclusively set-up a ‘buyer viewing day’ scheme for practice owners with a substantial number of viewings booked. A dedicated executive will be on site along with a senior estates consultant to control and orchestrate the whole day. A summary is below with more information available on the Mediestates website.
- Practice profile packs are produced for each buyer, ensuring full understanding
- Diary and timetable organised for buyers arriving and exiting
- We will talk through the financial modelling with the prospective buyer ensure each buyer understands the business and the vendor’s succession plans
- The executive will show the buyers around the practice, introducing buyers/sellers and assist with any/all applicable questions
- Vendors will have the opportunity to ask buyers any questions and vice versa
- The executive and vendor will have a debrief at the end of the day
Mediestates offers and endorses a range of expert services. We have a proven track record of success in these areas, backed by award winning consultants, industry leading partners and cutting-edge systems and technology. You can find all this in our new information centre that includes: recommended solicitors, accountants, financial and insurance experts, BDA advice videos, understanding how to claim your capital allowance benefit, CQC application process, events calendar, testimonials, advice on funding your purchase, maximising the level of interest to buyers, as well as news, blogs and campaign resources.
Meet the team
This new page lets our current and prospective clients have an in depth view of our team of expert valuers, negotiators, managers, consultants, CQC monitors and back office staff. Here you can have a peek behind the curtain to see who is making the magic happen, what makes them proficient, and most importantly, what makes them different during every aspect of the sale process. Their direct line numbers, mobiles and individual testimonials are available.
We hope you find the new website fresh, modern and informative; we worked hard to make sure it contains valuable information to assist you. Feedback is very important to us and can be emailed directly to contact@ mediestates.co.uk.
We will continue to add new features in the coming weeks to make the site even more user-friendly and provide more detail to the profiles that we feature.
Practice location – this practice was established 30 years ago and was purchased by the current vendor in 1990. It is located within a large city, on a busy main road with excellent visibility and easy patient access.
Type of practice – this substantial NHS practice has 10 surgeries with nine associates and one therapist working alongside the principal. The practice is modern and fitted out to a high clinical standard with the majority of equipment less than five years old. The freehold premises, owned by the vendor, were to be leased to an incoming buyer.
Financials – the annual turnover of £2,200,000 is derived from two NHS contracts and a small amount of private fee per item work. A GDS contract of £1,950,000 for provision of 64,500 UDAs generated a strong UDA rate in excess of £30. In addition, an NHS orthodontic contract made up 11% of total turnover based on delivery of 4,500 UOAs. The practice was efficiently run ensuring a high net profit margin, despite the high clinician and staff costs required for a 10 surgery practice.
Buyer Appetite – this practice was sold to one of our premier tier buyers with no fees incurred by the vendor.
Reason for sale/incoming purchaser – the principal was looking to reduce their responsibilities but was happy to be tied in to the practice post-sale for a period of time. The incoming buyer was purchasing as an investment opportunity.
Price achieved – £4,900,000 inclusive of goodwill, equipment, fixtures/fittings.
Practice location – located within an urban village, this practice was first established in 1991 and was acquired by the current vendor in 1997. The practice occupies a two-storey high street premises, close to other shops and amenities in the heart of the village.
Type of practice – this is a four surgery, mixed practice with plenty of space available to create additional surgeries if required. The principal worked alongside two associates and one hygienist, all part-time. The freehold premises were included within the sale.
Financials – annual turnover of £515,000 was delivered through 75% NHS income and 25% fee per item work. The NHS contract for 12,480 UDAs achieved an attractive UDA rate of £31.59. Referrals out of the practice were relatively high and consequently private income could be driven through the introduction of a visiting specialist on a monthly basis.
Buyer appetite – the practice attracted significant interest from our priority tier buyers, with 14 viewings taking place and nine different purchasers offering full asking price or above.
Reason for sale/incoming purchaser – the outgoing principal was looking to retire, however was open to options with regards to continuing at the practice post-sale. The incoming purchaser was a first-time buyer looking to work within the practice full-time.
Price achieved – £1,110,000 inclusive of goodwill, equipment, fixtures/fittings and freehold (£200,000). The achieved sale price was in excess of the original marketing price due to the high level of buyer interest.
Practice location – established for approximately 30 years, this practice was purchased by the current principal in 1995 as a going concern. It is located within a small village, with a prominent position on a busy road and benefits from excellent transport links to nearby cities. There is a patient car park as well as plenty of on road parking available.
Type of practice – the practice comprises three surgeries and treats mainly private patients. Over 50% of the income was generated by the principal supported by one associate and one hygienist. The freehold premises were owned by the vendor who preferred to retain the freehold.
Financials – the practice benefits from a strong capitation membership which provides £155,000 income per annum. There is a small NHS contract of £30,000 for 1,300 UDAs. The remaining private income of £115,000 is made up of some specialist treatments alongside general dentistry work.
Buyer appetite – sales particulars were sent to 285 of our general market buyers and over 350 buyers viewed the opportunity via our website. Multiple viewings were conducted with a number of buyers offering full asking price.
Reason for sale/incoming purchaser – the vendor was looking to reduce their managerial responsibilities whilst continuing to work at the practice for up to two years. This suited the incoming buyer as it helped secure the continuity of private income going forward.
Price achieved – £399,814 for the goodwill, equipment, fixtures and fittings. The sale process took seven months from first marketing to completion.