The Partnership Opportunity for Principal Dentists

Transcription

1 The Partnership Opportunity for Principal Dentists It s the perfect professional partnership. You focus on dentistry, we look after the paperwork. dentalcorp.com.au 2011

2 In recognition of what you, the Principal Dentist, have built with your dental practice, we extend an offer to partner with the Dental Corporation Group.

3 CONTENTS About Us 2 Our Vision for Growth 4 Partnership Opportunity for Dentists 5 How to Join Our Group, the Next Steps 8 FAQs 9 Page 1

4 ABOUT US How we do business is important to us: Integrity, innovation, collaboration, service commitment and care shape our approach. Dental Corporation is one of the leading providers of dental services with operations in Australia, New Zealand and Canada. Our group is focused on partnering with leading general and specialist dental practices through our unique business approach. Our partnership model allows you, the dentist, to focus on dentistry whilst we provide a comprehensive range of support services and assistance in growing your practice operations. You remain in full control of the day-to-day operation of your practice while our Corporate Centre team provide a full solution across a wide range of support services. A full list of our practices along with further company information is detailed on our website: Page 2

5 Business Snapshot Expert Executive Leadership and Management teams who possess an intricate operational understanding of dental practices and the business of dentistry. Wide shareholder base, including founders, seed investors, major equity investors and dentists. Fortis Healthcare International is the majority shareholder. A business model that has consistently won acclaim, receiving award for: Both the Enterprise and Innovation categories at the 2011 Australian Business Awards. The Fastest Growing Private Company in 2009 and finalist in 2010 in BRW Awards in the category for revenues over $100 million. Our Keys to Success The success of Dental Corporation is based on an alignment of interests between Principal Dentists and Dental Corporation. This is achieved through a combination of: Attitude: this is the start of our long term relationship. Approach: you are the best person to run your practice, we provide the support. Aligned interests: management and dentists are all shareholders. Page 3

6 OUR VISION FOR GROWTH Out of the many, we partner with a select group; leading dentists with a proven history of excellence. After successfully cementing our position as the market leader in Australia, Dental Corporation is expanding internationally. Our goal is to acquire and partner with new dental practices each year and expand into new regions across the globe. We will continue to partner with dental practices through our successful, award winning approach, underpinned by our core values and sophisticated expertise in the operation of dental practices. Growth will continue to come through: Partnering with industry leading Principal Dentists. Streamlining back office operations ensuring dentists are able to focus on clinical practice. Ongoing investment in the growth of practices and facilities. Ongoing training and development for all our Principal Dentists and staff. + CANADA + AUSTRALIA + NEW ZEALAND Page 4

7 THE PARTNERSHIP OPPORTUNITY FOR DENTISTS Dentists across all our regions continue to embrace our partnership model and the benefits it provides you, the Principal Dentist. We promote growth across our practices with the provision of expert operational support and financial reward, working together towards the continued success of your practice. The Benefits of our Partnership Model Our partnership model provides many significant benefits for our Principal Dentists. These include: Realising the equity within your practice. We offer a market value based on your current earnings per annum, allowing you to realise the equity 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. Share in financial reward as your practice continues to grow. Our incentive structure ensures you are financially rewarded for continued growth in your practices earnings. Retain your clinical independence and control of the day to day operations. You maintain management of the practice with the support of Dental Corporation experts. No micro management. Retain your brand. Your identity is retained; we do not re-brand your practice. Page 5

8 Marketing Support Our Marketing team provide expert consultative support in the marketing of your practice and communication to your patients. We have developed various marketing programs, tools and templates for you to utilise including patient reactivation programs, electronic newsletters, patient referral programs and websites. Operations Support Your practice is given the opportunity to partner with a Practice Consultant, offering creative and innovative ways to help grow and support your practice, including; building efficiencies, identifying areas of opportunity, recommending best practice strategies and processes, sharing knowledge and experience from the group. Focus on dentistry. We let our dentists be dentists. We are committed to working with you to support the operations of your practice, 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 by operational experts significantly reducing your administrative back office tasks. These include: Marketing Support. Operations Support. Financial reporting. Accounts Payable and Payroll. Information Technology (IT) Support. Human Resources (HR) Support. Supplier negotiations. Access group buying power. Networking, training and development. Collaborate with industry leading dentists. We facilitate networking with peers across our group. Access to clinical and business management training. We promote continued professional development, knowledge sharing and up to date professional standing (CPD points to retain accreditation) to assist with the continued growth and efficient management of the practice. Utilise group purchasing power. We have negotiated deals with suppliers and formed partnerships with supply companies that will give you the best value pricing and best freight rates. Page 6

9 Our Offer to Principal Dentists When partnering with Dental Corporation, Practice Principals receive: Initial Value: Dental Corporation assesses your practice as a going concern and offers market leading consideration. This is paid to you at settlement and includes a percentage of the value in Dental Corporation shares. You share in the continued success of the company through equity participation. Shareholding: All our Practice Principals are shareholders in Dental Corporation, sharing in the success of the company through equity participation. Incentive based remuneration structure: rewarding Practice Principals for directly seeing patients and providing an attractive bonus structure for continuing to oversee the profitable growth of the practice. Continued autonomy: freedom to manage the practice on a day-to-day basis with the support from Dental Corporation. Access to clinical and business management training: available to assist with the continued growth and efficient management of the practice (CPD points may be available to retain accreditation). Support Services: Dental Corporation provides a comprehensive suite of Payroll, Accounts Payable and Financial Reporting services to the practice delivering comprehensive management information on a monthly basis. In addition, consultative support is provided in the areas of IT, HR, Practice Operations, Management and Marketing as appropriate and/or as requested by the Practice Principals. Page 7

10 HOW TO JOIN THE GROUP, THE NEXT STEPS We understand the decision to join Dental Corporation is important to you with many areas for consideration. We make the process as smooth as possible without interruption to your day to day business operations. There are 10 simple steps to joining the Dental Corporation group: 1. Introductory meeting and site visit by a Dental Corporation director 2. Financial review and due diligence 3. Valuation and pricing proposal 4. Heads of Agreement signed (agreement on key commercial terms) 5. Legal documentation prepared 6. Pre-settlement planning (transition and integration steps) 7. Visit by Practice Operations Coordinator 8. Financial settlement 9. First day in the group 10. Post-settlement support (Induction Workshop and introduction to your Practice Consultant) Page 8

11 FAQs How long do I continue operating for in my practice? Our Practice Principals continue operating their practice on a five year contract 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 all of our Practice Principals. What price do I receive for my practice? You receive a market leading rate based on a multiple of your agreed practice earnings and the assets required in the business. A percentage of the value is paid in Dental Corporation shares, allowing you to share in the continued success of the company with equity participation. What happens to the name of my practice? Your practice name remains the same. We do not change the branding of your practice. You maintain full control of the day-to-day operation of your practice including your brand and practice name. What are my operating hours? The hours of your practice remain the same as they are now. Changes in the future to your operating hours are your decision. What happens to my existing staff? We value the great team you have put together to build a successful practice. Your current staff will continue employment under the same terms and conditions of employment. You remain in control of staff employment and rewards. What happens to my existing brand including marketing and advertising initiatives? Our Marketing Team provides a comprehensive range of marketing initiatives at both the practice and group level. You still maintain control over your practice s brand, marketing and advertising with an expert Marketing Team to provide as much support as you would like. How do my staff get paid? We manage the payroll process for our practices ensuring 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 get paid? Our Finance team takes care of calculating and processing your payment each month. Your payment information is then sent to you for approval prior to processing the monthly payment. Can I choose my suppliers? Dental Corporation has your practices best interest in mind and uses our group buying power to negotiate deals with suppliers and form partnerships with supply companies that give us the best discounts and best freight rates. We have an online Purchase Portal where you can purchase a comprehensive range of dental products at discounted prices. What dental services does the group offer? The Dental Corporation group offers a comprehensive range of generalist and specialist dental services including restorative, general, cosmetic, orthodontic, periodontic, prosthodontic, maxillofacial and oral surgery. What training and development is available? We believe and invest in conferences, seminars and events to facilitate learning, networking and camaraderie across the group. These include the Annual Practice Principal Conference, Practice Management Seminars, an industry leading Graduate Placement Program and a Diploma in Management course. Page 9

12 Dental Corporation Level 6, 18 Orion Rd Lane Cove NSW Australia Principal Dentist Partnership Opportunities. For more information contact: Dr Ray Khouri Executive Director MOB TEL Mark Evans Executive Chairman MOB TEL