Joint Venture Management – JVM
We support Practice Owners to run their own business. Practice owners will maintain full ownership and decision making of their practice whilst Synergy provides support and business management with a proven formula for growth. You can maintain your practice branding, share our own, or create a fresh image – you decide.
We have tailored flexible management models to suit any vision and make ambitions into reality.
We believe in creating partnerships with the outcomes being;
– Practice Growth with an increased turnover, increased profits and a stronger practice valuation.
– Manage the recruitment and HR needs including suitable associate dentists and nurses.
– Less administration, less stress, more leisure.
– Continuation of clinical freedom.
– Development of dental teams and offering more to patients.
– Most importantly, for Practice Owners and their teams to re-ignite the passion that they had when they first decided to become a principle.
– Securing additional dental contracts through successful procurement for our partners. We have won many NHS dental contracts ranging from PDS, GDS and Oral Surgery Contracts.
With the Covid-19 Pandemic, there are many uncertainties for the future of dental practices. These uncertainties include:
– The valuations of existing dental practices has fallen.
– Investor and bank lending has halted. As such, the demand for purchasing dental practices has fallen.
– Uncertainty to maintain the private revenue post pandemic.
– Uncertainty over the NHS contracts.
– Ability to retain staff members post pandemic.
– Increased running costs of the practice with additional measures in Governance and Infection Control
– Less output within the surgery due to increased length of appointments.
We understand that with these uncertainties, many practice owners will be looking at selling their dental practice, even if this means that they accept a lower valuation for their practice. At Synergy, we believe that this should be AVOIDED in the current climate and practice owners should aim to maintain the practice’s deserved valuation before they consider selling. We can help with that.
At Synergy, we have very quickly adapted through the Covid-19 Pandemic and have taken this time to work on some very exciting innovations – allowing our partner practices and associate dentists to benefit during the pandemic as well as preparing ourselves for when the pandemic is over. We believe that it is essential that each practice has a business continuation and growth plan to ensure that the practice Turnover and profitability is at the very least sustained post-pandemic. However, with our innovations and investments coupled with our experience of turbocharging dental practices, we believe that there is a huge opportunity to develop dental practices.
The services provided to the practice by Synergy Dental helps to develop and grow the business. Central management services will be provided by Synergy Dental Group and a management fee will be charged to the practice. The management fees are tailored for each practice.
As the practice grows, the value of the practice also grows and therefore the value of your shares will increase. Thus, your initial investment is not just rewarded by practice proﬁts but an increased equity value in the business.
Synergy Dental has been successful in winning new and additional NHS dental contracts and thus has increased the growth of the business substantially.
With experience in dental tendering and providing a high quality dental service, we have been able to secure new NHS dental service provision for new and existing practices.
This means that as the practice turnover increases, so does the proﬁt element for our partners. Furthermore, an increased NHS contract increases the valuation of the practice raising the shareholding value for our partners.
As the practice owner, if you decide to sell your practice, your practice value will have increased substantially, and you can sell whenever you’d like.
As a practice owner, you may also wish to invest into a 2nd or 3rd practice whether under ‘Synergy Dental’ or your own brand. We will support you with this.