Dental group is all smiles as program expands
GOLD Coast listed dental group Totally Smiles is planning to add up to 10 more local practices to its partnership program, targeting some of the region’s best dental clinics.
Totally Smiles debuted on the ASX as Smiles Inclusive Ltd in April after a $35 million initial public offering, and last week announced a $1000 preSHARES tax loss for the financial year. The result was better than the $161,000 loss forecast in its prospectus, due to Smiles shaving more than $1 million off corporate and integration charges, which will be carried forward this financial year.
Net practice revenue, however, was $6.055 million, compared to $10.34 million in the forecast, which was the result of the settlement of its 52-practice portfolio taking longer than anticipated.
Smiles operates under a partnership model with dentists; individual dentists who sell their clinics remain investors in the business.
Chief executive Mike Timoney said the company planned to add more than 50 practices over the next 12 months.
“We are planning to launch our own dental education campaign on the Gold Coast, with visits to schools and corporate offices to provide mobile dental checks and introducing programs which allow families to cost-effectively look after their teeth and gums,” he said.
“There are numerous great dentists on the Gold Coast I anticipate will embrace our partnership model to assist their growth, while providing benefits to the local community and I welcome the opportunity to discuss our business model with them”.
WE ARE PLANNING TO LAUNCH OUR OWN DENTAL EDUCATION CAMPAIGN ON THE GOLD COAST MIKE TIMONEY