{"id":293933,"date":"2025-07-26T18:25:43","date_gmt":"2025-07-26T18:25:43","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/293933\/"},"modified":"2025-07-26T18:25:43","modified_gmt":"2025-07-26T18:25:43","slug":"what-the-mydentist-and-donte-deals-really-mean-for-the-market","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/293933\/","title":{"rendered":"What the {my}dentist and Donte deals really mean for the market"},"content":{"rendered":"

In the last seven days, we\u2019ve seen two significant moves in the European dental sector: Bridgepoint\u2019s new partnership with {my}dentist<\/a> in the UK and the \u20ac1 billion acquisition of Spain\u2019s Donte Group<\/a> by the Ontario Teachers\u2019 Pension Plan (OTPP)<\/a>. Both transactions reflect a continued appetite from large-scale investors for dental platforms that offer scalability, operational stability, and a focus on affordable care.<\/p>\n

The {my}dentist Sale in Context<\/strong><\/p>\n

While exact terms haven\u2019t been publicly confirmed, the deal is understood to have closed at an EBITDA multiple of sub-10x, potentially closer to 9x. For owners of practices with EBITDA in the \u00a33 million-plus range, this figure has raised eyebrows. Many had previously hoped for valuations above 10x – typically seen in group or platform sales where buyers aim to create value through arbitrage.<\/p>\n

But does a 9x multiple for a group generating around \u00a3100 million in EBITDA signal a reset for the rest of the market? The answer is no.<\/p>\n

Multiples are driven by buyer demand, not by precedent alone. There is a limited pool of investors capable of acquiring a group of {my}dentist\u2019s scale. By contrast, businesses with EBITDA between \u00a33 million and \u00a310 million are far more appealing to a broader range of buyers. These mid-sized groups often offer stronger scalability, clearer growth pathways, and lower integration risk. In short, they sit firmly in the market\u2019s sweet spot.<\/p>\n

Quietly Reshaping the Model<\/strong><\/p>\n

It\u2019s also important to acknowledge what this deal really rewards: {my}dentist\u2019s methodical transformation over recent years. Behind the scenes, the group has been reshaping its estate, consolidating smaller sites into super hubs with multi-chair, multi-specialist setups that improve patient outcomes while driving operational efficiency.<\/p>\n

This evolution has made them smarter and more aligned with what modern dental delivery should look like. It\u2019s precisely the kind of innovation institutional investors look for: scalable infrastructure, strategic foresight, and a leadership team with a long-term vision.<\/p>\n

Investors aren\u2019t just buying EBITDA, they\u2019re buying track records, management depth, and readiness for the next five years.<\/p>\n

Donte Group: A Different Type of Buyer, a Different Strategy<\/strong><\/p>\n

In Spain, Donte Group has been acquired by Canadian pension fund OTPP for \u20ac1 billion, representing a 2.6x multiple of its \u20ac385 million revenue. The deal ends Advent\u2019s six-year ownership, during which Donte was transformed into a professionally run, clinically-focused platform with over 400 clinics. OTPP plans to support further organic growth, with some selective M&A, reflecting a broader trend of long-term capital entering healthcare and prioritising sustainable expansion over quick returns.<\/p>\n

Assuming an EBITDA margin of around 20%, Donte\u2019s EBITDA would be roughly \u20ac77 million. This implies an EV\/EBITDA multiple of approximately 13x – ironically, the multiple often referenced by UK operators as a \u2018gold standard\u2019.<\/p>\n

\u2022 Revenue: \u20ac385 million<\/p>\n

\u2022 Assumed EBITDA margin: 20%<\/p>\n

\u2022 EBITDA: \u20ac385m \u00d7 20% = \u20ac77 million<\/p>\n

\u2022 Enterprise Value (EV): \u20ac1 billion<\/p>\n

\u2022 EV\/EBITDA multiple: \u20ac1,000m \u00f7 \u20ac77m = 13x<\/p>\n

Will These Deals Reshape the UK Market?<\/strong>
<\/strong>
These transactions are notable, but they are unlikely to reset pricing trends across the UK dental sector. A critical point is often missed – sellers can become overly focused on the multiple itself, when what really matters is what\u2019s being multiplied.<\/p>\n

A well-run, consistently profitable practice with stable EBITDA will always be more attractive than one reliant on short-term adjustments or inconsistent performance.<\/p>\n

Large-scale deals like {my}dentist\u2019s operate at a different end of the spectrum, involving complex financial structuring, significant operational risk, and a narrow pool of buyers. For most UK practice owners, whether they run a single-site private clinic or a regional group, the fundamentals remain unchanged. If your business is strong, well-governed, and has a clear growth path, there will always be interest.<\/p>\n

Final Thoughts<\/strong><\/p>\n

Now more than ever, it\u2019s vital to step back from market noise, especially from commentators who talk down valuations while quietly growing their portfolios. Take proper advice and run a competitive process. The market will ultimately decide what your business is worth. Remember, multiples are just one part of the story; what matters is building something worth multiplying. Strong governance, operational discipline, and forward-thinking strategy will always be rewarded.<\/p>\n

To find out more about the impact of these deals on the dental market, contact: <\/strong>paul.graham@christie.com<\/strong><\/a> or 07739 876 621\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"In the last seven days, we\u2019ve seen two significant moves in the European dental sector: Bridgepoint\u2019s new partnership…\n","protected":false},"author":2,"featured_media":293934,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4316],"tags":[105,4348,16,15],"class_list":{"0":"post-293933","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-healthcare","8":"tag-health","9":"tag-healthcare","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114920942733211302","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/293933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=293933"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/293933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/293934"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=293933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=293933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=293933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}