The practice, with mainly NHS income from 6,937 registered NHS patients, comprises three surgeries spread over two levels, with scope for the new owner to expand.
The previous owner, Andrew MacFarlane has successfully operated the practice for the past 30 years; joining the business in 1988 as an associate and taking over management as the sole owner in 1991.
Following the development and implementation of a marketing process with Andrew, Christie & Co launched the practice to the market confidentially. The response that followed was tremendous, with no less than 34 enquiries received, which resulted in 13 viewings, 12 notes of interest and multiple offers at a closing date, all within 5 weeks. The results that were achieved throughout the process suggest the insatiable appetite buyers have for quality dental practices in Scotland remains strong.
Commenting on the experience Andrew said, "Once I had made the decision to sell my practice I met with several selling agents and was immediately impressed with Paul’s friendly, personal, professional manner. At no time did I feel any pressure and he talked me through the whole process from start to finish. He liaised with all the interested buyers and I was delighted with the outcome. I wouldn’t hesitate to recommend Christie & Co to anybody thinking of selling their practice. Thanks again Paul."
Paul Graham, Director at Christie & Co’s Edinburgh Office handled the sale and comments, "While the consensus may seem that large corporate companies are absorbing many practices in Scotland, in reality corporates only account for approximately 12%-15% of the entire market. It is very satisfying when we are able to be involved in a sale of this manner and to receive such a lucrative response isn’t uncommon in this thriving market."
Wellmeadow Dental Practice was sold at a closing date in excess of the asking price.
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