26 April 2006
Legal & General Ventures ("LGV") has acquired a significant shareholding in Integrated Dental Holdings ("IDH"), the UK’s largest owner of dental practices, for an undisclosed amount. LGV’s entry as new shareholders follows the decision by existing shareholders Matthew Allen and Luke Johnson to sell their stakes, having both invested in the business when it was formed in 1996. Headquartered in Bolton, IDH is the largest privately owned company operating NHS dental practices in the UK with more than 130 practices, 550 dentists and around 1 million patients. Over the last 18 months IDH has opened 30 new practices, housing 140 additional NHS dentists and treating 300,000 new NHS patients. This expansion programme has been underpinned by IDH's ability to successfully recruit 300 dentists to work within the NHS over the same period.
IDH is committed to expanding its services through shared investment with Strategic Health Authorities, Primary Care Trusts and Local Health Boards across the UK to create new NHS dental practices and additional dental access for NHS patients.
IDH has entered all of its NHS practices into the new dental contract that came into effect from April. The firm plans to provide increasing support for its dentists under this new contract. It is currently piloting a supportive new management development programme for its most experienced clinicians to help them deal with the new contract and lead their practices successfully. LGV is backing the current management team of Andy Morris, Jo Weir and Darrin Robinson led by David Hudaly as Chief Executive. Gavin Casey, the former Chief Executive of the London Stock Exchange plc, will join the Board as the Chairman.
Commenting on the acquisition, David Hudaly, Chief Executive of IDH said:
"With the full backing of LGV, we will be able to lead the company through its next phase of development. Our focus on the NHS will continue, as we consolidate our position as a preferred provider of high quality dental care. IDH has built up a strong foundation for growth over the past ten years and we have ambitious plans to further increase the number of dental practices and extend the range of services we offer patients."
