The Dental Corporation Opportunity for Practice Principals. It s the perfect professional collaboration. You focus on dentistry, we look after the paperwork.
In recognition of what you, the Practice Principal, have built with your dental business, we extend an offer to work with Dental Corporation.
Contents About Us... 2 Our Vision for Growth... 3 The Dental Corporation Opportunity...4 You Focus on Dentistry... 5 Our Offer to You... 6 The Joining Process... 7 Next Steps... 8 FAQs... 9 Page 1
About Us How we do business is important to us: Integrity, innovation, collaboration, service commitment and patient care shape our approach. Dental Corporation is the leading provider of dental services and facilities in Australia and New Zealand. Our group is focused on engaging with successful general and specialist dental practices through our unique business approach. Our business model allows you, the dentist, to focus on dentistry while our support centre alleviates many of the administrative duties of running a practice. You continue to manage the day-to-day operation of the dental clinic from which you operate your practice and we work with you to help you to grow the dental clinic and to provide the best patient care. A full list of our practices along with further company information is detailed on our websites: www.dentalcorp.com.au / www.dentalcorp.co.nz. Business Overview Wholly owned by Bupa, an international healthcare provider. Leadership and Management teams who possess an intricate operational understanding of dental practice and the business of dentistry. A business model that has won acclaim, with a strong focus on practice value, customer relationships, key resources and business support. About Bupa Bupa s purpose is longer, healthier, happier lives. A leading healthcare group, Bupa provides health insurance and aged care services, as well as complementary healthcare services through Bupa Dental Corporation, Bupa Optical, Bupa Medical Visa Services, Bupa Medical Telehealth, Bupa Wellness and Bupa Medical GP Clinics. Bupa focuses on providing sustainable healthcare solutions that represent real value, and on leading the industry in the promotion of preventative health and wellness. Bupa s Australian and New Zealand businesses are part of the international Bupa Group, which cares for more than 29 million people in over 190 countries Bupa employs more than 62,000 people, principally in the UK, Australia, Spain, Poland, New Zealand and the USA, as well as Saudi Arabia, Hong Kong, India, Thailand, China and across Latin America. Bupa is one of the largest providers of dental services and facilities in the world with operations in Australia, New Zealand, United Kingdom, Spain, Hong Kong, Poland and Chile. For more information, visit www.bupa.com. Page 2
Our Vision for Growth We engage with a select group of leading dentists with a proven history of excellence. As market leaders in Australia and New Zealand, we aim to continue to acquire and work with new dental clinics in these locations, as well as expand the operations of our existing portfolio of dental clinics. We will continue to work with practitioners through our successful, award-winning approach, underpinned by our core values and expertise in the operation of dental clinics. Growth will continue to come through: Working with industry leading Practice Principals. Streamlining back office operations to ensure dentists are able to focus on clinical practice. Continued investment in the growth of dental clinics. Ongoing training and development for Practice Principals and dental clinic staff. Page 3
The Dental Corporation Opportunity Dentists across all of our regions continue to embrace our business model and the benefits it can provide them. We promote growth and success across our dental clinics with the provision of operational support and the incentive based financial arrangements that reward the dental clinic and the business you continue to build. The benefits of our business model: Our business model provides many significant benefits for our Practice Principals. These include: Realising the equity within your business. We undertake a valuation to enable us make a market competitive offer based on your current earnings per annum, allowing you to realise the value you have built in your business. We recognise that the key to long term success is ensuring Practice Principals are satisfied professionally, intellectually and financially. Sharing in financial reward as the dental clinic continues to grow. Our model is designed to provide financial reward from growth in revenue of the dental clinic (both from directly servicing patients in your own practice and from an attractive bonus structure from profitable growth of the clinical overall). Clinical independence and management of the day-to-day operation of the dental clinic. With the support of Dental Corporation s dedicated corporate centre team, you have more time to focus on dentistry. We work with you to develop the dental clinic and your individual practice to its greatest potential. Page 4
You Focus on Dentistry Dental Care Network Operating your practice from a Dental Corporation clinic, you will benefit from our consumer brand, Dental Care Network (DCN). DCN is a source of dental education and world-class programs which attract new and retain existing patients to the dental clinic from which you operate your practice. Operation Support Each dental clinic is supported operationally by a Practice Development Consultant. Your consultant can offer creative and innovative ways to help you grow the dental clinic, including your individual practice, and ensure the best patient care. They can assist in building efficiencies, identifying areas of opportunity, recommending best practice strategies and processes and sharing knowledge from across the group. We let our dentists be dentists. We are committed to working with you to support the operations of the dental clinic, allowing you more time to focus on dentistry. Receive a comprehensive range of support services. We provide access to a comprehensive range of support services via our helpful team, reducing your administrative tasks. These include: Supplier purchasing system Networking, training and development Collaborating with industry leading dentists Operations support Financial reporting Accounts payable and payroll Human resources support Marketing support Information technology support We facilitate networking with peers across our group. Access clinical and business management training. We promote continued professional development and knowledge sharing to assist with the continued growth and efficient management of the dental clinic and your individual practice. Access to an online purchasing portal. The Purchase Portal allows you to access to dental products from reputable suppliers, allowing you to compare products from multiple suppliers and giving you the opportunity to purchase at the best value. Page 5
Our Offer to You When working with Dental Corporation, Practice Principals receive: Initial realisation of value in your business: We will undertake a valuation of your existing dental business to make sure we offer market competitive consideration for the purchase of your dental business and its assets. An attractive financial relationship our success is your success. Attractive financial arrangements: Practice Principals are rewarded based on their personal patient collections within their own practice, in addition to a bonus structure for overseeing the profitable growth of the dental clinic overall. Extensive support services: Freedom to manage the dental clinic on a day-to-day basis with our continued support and the backing of our team who have comprehensive knowledge of the dental industry. Access to clinical and business management training: Training is available to assist with the continued growth and efficient management of the dental clinic (CPD points may be available). Support services: We provide a comprehensive suite of payroll, accounts payable and financial reporting services to the dental clinic and to your practice, delivering comprehensive management information on a monthly basis. In addition, consultative support is provided in the areas of information technology, human resources, practice operations, management and marketing as appropriate and/ or as requested by the Practice Principals. Page 6
The Joining Process We understand that the decision to join Dental Corporation is an important one. Our aim is to make the process as seamless as possible by minimising interruption to your day-to-day practice operations. There are 10 simple steps to joining Dental Corporation: 1. Introductory meeting and site visit. 2. Review of financial data. 3. Valuation and pricing proposal. 4. Heads of Agreement signed (agreement on key commercial terms). 5. Legal documentation prepared and due diligence undertaken. 6. Pre-settlement planning (transition and integration steps). 7. Visit by a Practice Development Consultant. 8. Financial settlement. 9. First day in the group. 10. Post-settlement support (Practice Induction Workshop). Page 7
FAQs How long do I conduct my practice in a Dental Corporation dental clinic? Our Practice Principals continue operating their practice in the dental clinic on a five year facilities and services agreement with the right to renew at the end of the contract. We take the time to understand your personal situation and seek to build a long term, mutually beneficial relationship with you. What price do I receive for my practice? We will undertake a valuation of your existing dental practice to enable us to offer market competitive consideration for the purchase of your dental business and its assets. What are my operating hours? The hours of your practice remain the same as they are now. Future changes to your operating hours are your decision. What happens to my existing marketing and advertising initiatives? Our marketing team is available to assist with existing marketing strategies and provide guidance on future plans and initiatives. We have a comprehensive range of tried and tested marketing initiatives and we can work with you to develop custom campaigns. The marketing of the dental clinic is supported by the group marketing initiatives of Dental Care Network. What happens to my existing staff? We value the great team you have put together to build a successful practice. Your current staff will be offered employment for their roles in the dental clinic with Dental Corporation employment under on terms and conditions that are no less favourable than pre-acquisition. Does Dental Corporation look after payroll for dental clinic staff? Yes, we manage the payroll process for our dental clinics, ensuring dental clinic staff are paid accurately and appropriate records are kept including pay slips, superannuation and tax office payments. You no longer need to worry about the time-consuming process of paying your staff. How do I pay for the facilities and services provided by Dental Corporation? Our Finance Team calculates and processes on your behalf the monthly payment you pay to Dental Corporation for the provision of support services, based on the revenue of the dental clinic. This is calculated based on collection reports provided by the dental clinic and reconciled with processed lab expenses, to calculate the facilities and services fee due to Dental Corporation. This information is then sent to you for approval prior to processing the monthly payment, allowing you to review the calculations pay before payment is made Can I choose my suppliers? Yes, you can choose the materials and suppliers you use in your own practice. Through our online Purchase Portal, you can purchase a comprehensive range of dental products at competitive prices. We have our dental clinics best interests in mind and have negotiated deals with reputable suppliers. We believe and invest in conferences, seminars and events to facilitate learning, networking and camaraderie across the group. What role does Bupa play with Dental Corporation? Dental Corporation has a high degree of autonomy within the Bupa group but we are exploring a range of options to create value from leveraging our large number of practices with Bupa s substantial customer base Page 8
Next Steps Submitting the information required to evaluate the practice. Below is the list of information we require to evaluate your practice and provide you with a valuation and pricing proposal. Once you have collated your information, please forward it to one of our Directors listed below who will review the information and get in contact with you. Please don t hesitate to contact them if you have any questions regarding the information requirements and the joining process. Profit and loss Financial (statutory) accounts for the previous financial year. Management accounts for subsequent trading period. Commentary on profit and loss Annual gross revenue by practitioner, including the Practice Principal, Associates/Dentists and Hygienists. Laboratory fees by practitioner for the same period as revenues in point above. Please identify any personal or nonrecurring items of expenditure or purchases of equipment. Staff List of current staff with annual salary and typical expenditure on casual/temp staff. List of Associate Dentists and remuneration agreements with them. Leases Copy of premises lease including rent payable, term and options, rental increase provisions and contributions to outgoings. Submit your information to: Mark Evans Managing Director M: +61 418 372 849 T: +61 3 8602 7000 E: mevans@dentalcorp.com.au Chris Chambers Executive Director M: +61 410 529 842 T: +61 3 8602 7001 E: cchambers@dentalcorp.com.au Page 9
Dental Corporation Level 6, 18 Orion Rd Lane Cove West, NSW Australia 2066 www.dentalcorp.com.au www.dentalcorp.co.nz Practice Principal Opportunities. For more information contact: Mark Evans Managing Director M: +61 418 372 849 T: +61 3 8602 7000 E: mevans@dentalcorp.com.au Chris Chambers Executive Director M: +61 410 529 842 T: +61 3 8602 7001 E: cchambers@dentalcorp.com.au