Practice purchase cause for big smile

TOWNSVILLE- based dental group 1300SMILES Ltd has entered into an agreement to acquire a multi- chair dental practice in Noosa.

The practice provides dental services to the Sunshine Coast area and is in an existing retail and commercial hub.

1300SMILES managing director Daryl Holmes said the acquisition reinforced their focus on the northern Brisbane to Sunshine Coast growth corridor, creating increased scale and scope for the company.

“This exciting acquisition complements our recently opened, new nine- chair practice at Morayfield, northern Brisbane, within the massive, fast- growing and expanding 14,000sq m Morayfield Health Hub facility,” Dr Holmes said.

“The acquisition is a great fit for us, and we expect it will contribute to solid returns for shareholders over the months and years ahead.”

Completion is expected to occur by early July, subject to the satisfaction of conditions and finalising due diligence.

“Following completion, we look forward to welcoming the very experienced dentists and staff to the 1300SMILES group, and further growing and expanding the practice through quality care and management,” Dr Holmes said.

The new acquisition will complement recent purchases in Queensland including Buderim, Maleny, Gladstone, Roma, Ingham and Morayfield and bring the total practices acquired or opened in the past 12 months to nine.

1300SMILES Ltd owns and operates full- service dental facilities at sites in New South Wales, South Australia, and in 10 major population centres throughout Queensland.

The company is seeking to expand its presence throughout Australia by establishing its own new operations and by acquiring existing dental practices.