Scotland’s largest dental group has secured a £10m funding package from Investec to help with further acquisitions.
Clyde Munro expects to exceed a milestone of 50 practices owned in the coming weeks – adding to the more than 400,000 patients already on its books.
It takes the total committed by Investec to £30m, which along with private-equity firm Synova, has ensured the group has been able to deliver on founder Jim Hall’s ambition to create “Scotland’s family dentist”.
Recent weeks have seen Clyde Munro acquire further practices, taking its total to 47, covering all of Scotland’s cities as well and locations from Orkney to the Borders.
A further six practices are on heads of terms, with a deal close to confirmation.
Investec director Stephen White commented: “Scottish dentists are confident enough to place their legacy in the hands of the Clyde Munro team, which is in turn investing in those practices to improve outcomes for patients, while protecting the charm and identity of individual practices.”
Jim Hall, who launched Clyde Munro in 2015, said: “We’re Scottish-based, have a distinctly Scottish team and we are not looking outside of Scotland – that sets us apart from our rivals and those that have tried to reach scale before us.”
The Glasgow-based firm now has more than 200 dentists, 400 staff and 400,000 patients.
Don’t miss the latest headlines with our twice-daily newsletter – sign up here for free.