A Perthshire-based dental firm has completed the take-over of a second Scottish borders dental practice, adding to a £2m investment into the business.
Infinityblu Dental Care and Implant Clinic, established by Chris Barrowman, has consolidated its presence in the Borders with the £450,000 purchase of Kingsmeadows Dental Practice in Peebles.
The practice is now taking over the list of patients in the former royal burgh, with a deal being struck with its founder Richard Turton, who is set to retire after almost a quarter of a century in the town.
The move cements Infinityblu’s expansion into the region following the introduction of its first practice in the Borders last year, in Duns, with the acquisition of Duns Dental Practice.
Infinityblu will offer in-house implant and orthodontic services for the first time in the Peebles practice - services that were previously outsourced.
The Peebles buy-out is part of a growth package which will see Infinityblu extend into four regions, with nine practices, and a new telephony hub and offices due in its Pitlochry headquarters, following the purchase and £250,000 refurbishment a former hairdressers in the Perthshire town’s Atholl Road.
With more than 50,000 patients now on its dental lists, the Pitlochry base will offer a central point for phone and online bookings, while also providing a space for meetings and in-house training.
In addition, Infinityblu will open a new £300,000 practice in Killin in mid-August, before breaking new territory in Fife, with the £200,000 acquisition of an existing practice from an English corporate.
With further investment in the latest 3D technology and scanners, the new growth round in the independent company amounts to over £2m; all of which has been financed internally.
“We are very excited about the Peebles take-over and the team there are really engaged and brilliant to work with,” said Barrowman, who is currently recruiting dentists for the new practices, for when the present owner in Peebles retires in three months.
“Our model is unique in Scotland, we have no intention of taking over practices and continuing the same service or services that have been previously offered, just with the aim to flip them in five years and profit on an increased cumulative value based on the increased number of sites.
“Our vision is simple: the Infinityblu model is to re-invest in each acquisition,” he continued. “We are one of the few Scottish dental groups that have not gone down the private equity route, so unlike most, this keeps us independently owned and controlled, with no pressure or focus on future sale value or time to sell.”
From opening its first practice in Pitlochry in 2007, Infinityblu now employs 25 dentists, five hygienists and over 100 staff in total.
Current Infinityblu locations are Pitlochry, Dunkeld, Crieff, Alyth, Callander, Duns, Auchterarder and Peebles, with Killin and Auchtermuchty opening in August.
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