I suspect it came as quite a surprise to both patients and colleagues alike when this dentist and Principal of Oliver's Dental Studio in Sunderland accepted a very tempting offer to join the {my}dentist family.
As the clock ticked past midnight on the 31st of March this year,six months of challenging negotiation came to a close and the biggest business decision of my life became a reality.My baby of 30 years became the latest member of a rapidly expanding family of dental practises in the UK,all under the wing of the biggest dental corporate in the country ....{my}dentist
So how was it for you Michael ?
The courtship began in summer 2014 when I was tentatively approached as a Principal heading towards his 55th birthday by the then Integrated Dental Holdings senior acquisitions team.IDH are sensibly expanding into the private dental sector as they add balance to their huge portfolio of practises which until recent times was biased in numerical terms to the NHS.The private dental sector is growing rapidly with a population seeking out advanced dental treatments and cosmetic smile enhancement care.It was indeed flattering to be targeted at Oliver's to bring our expertise to the company as one of the largest providers of private dental care in the UK.We are proud to have grown our facility, even through the difficult times of the recession in a very demanding private dental sector.As well as our wide ranging clinical skills and energetic team, we were judged to have strong marketing and business skills, all ingredients to add to the well respected {my}dentist team.
I have a huge pride in what we,as a team,have achieved at Oliver's with the unstinting support of our wonderful patients,who are part of the Oliver's family.With this in mind I spent many hours in the summer researching our new suitors to confirm the {my}dentist values matched those of our thriving and much respected facility.Our brand was very successful and reflected our high clinical standards.Our new owners were to maintain those standards under the banner of Oliver's,indeed the power of the association with such a big company could only add to our facility.
My loyalty to both my colleagues,staff and patients was central to my thoughts and without guarantees, the takeover would have floundered in those summer months.{my}dentist and their team showed a total understanding of the Oliver's brand and indeed seemed quite excited to be adding us to their team sheet.
Once the guarantees were in place the formality of negotiation could proceed in an air of mutual benefit.I can only speak highly of the professionalism of their negotiating team and in particular the strict confidentiality that was shown to me at this sensitive time.As the negotiation progressed this dentist was exposed to the full experience of corporate purchase and the remarkable support of my own professional advisers.In particular,my lawyer Ken Stenger,was outstanding and guided me seamlessly through the most stressful of times, protecting my interests at every turn.Add to that the excellent work of my accountant Keith Pullan and the potential difficulties were reduced and sleepless nights avoided.
With Steve and Rob,senior negotiating team IDH
So what is the experience really like?
From summer 2014 to completion at the end of March 2015 was a nine month period that ebbed and flowed between rapid and exhilarating progress to low points of frustration and stress. Most people in the position of selling their lifetime of effort harbour an apprehension regarding the correctness of the decision.There is also a strong desire to get things over the finishing line as quickly as possible but this impatient fella had to learn to run through the procedures slowly and deliberately.It paid dividends to have all of the details in place and to fight the inevitable pressures to proceed when things may not have been in alignment.
After months of pulling things together, the last week or two seemed to fly by and the call from my lawyer to tell me the business had sold almost caught me unawares.It was a strange,almost anticlimactic experience,when a lifetimes work slipped from my grip.Add to this of course was an almost exhilarating feeling of liberation from the strain of thirty years of running a large health facility.It had been a wonderful thirty years of memories overseeing the continues growth of the Studio to where we stand now.I have to say I am very proud of what we have achieved,after all I was just a young lad from Fulwell when it all kicked off in 1983.I feel as if Ive handed on the batten to a company who share our vision and indeed want to steer us to even greater things in the years to come as part of the private and specialist wing of this impressive corporate.
Our new era began on April 1st and it would be unfair to claim the first four months have been totally free of stresses.We have had to adapt to new processes that see a company who clearly want to leave no stone unturned in a desire to run a health facility in a world of over regulation.Fine details are important to a company with a national standing who will not allow themselves to be left open to criticism of their procedures.Any patient visiting Oliver's can be assured the {my}dentist group will do everything in their power to provide a high level of care in a safe environment.Small frustrations such as uniform changes and dental material amendments have now been ironed out and the Studio, under the excellent management of Joanne Barella,is now running as it always has.The company has kept its promises and we continue with our full and very experienced staff under the tried and tested Oliver's brand.As an independent private facility with one owner we were able to react swiftly in our operations whilst we now have to accept major decisions need to be sanctioned by our owners which can be a more drawn out procedure.In defence of the company,decisions we consider of value to the business have been supported 100%.In particular,our energetic marketing policy has seen tremendous support from the company and continues as a vital part of our success.
Celebrating the new era with IDH Director of Private and Specialist services
Caron Best
Would I recommend {my}dentist to other principles wishing to experience a smooth sale of their business ? Absolutely
Does it feel good to be working as a dentist and not a business owner - you bet.
It has been a wonderful 30 year journey but I am delighted Oliver's will flourish in the future under the guidance of our new owners.On a personal level I am genuinely finding more enjoyment for my dentistry without the distraction and strains of business responsibility.
Thank you to everyone who has helped get us build the reputation we have and I look forward to many more years working with the great team at Oliver's.
Any practise owner who would like to speak to me directly and in confidence on this life changing journey, I am more than happy to advise on 0191 5282340 or by email at mjoliver73@sky.com
June 1983 Newcastle University
With Miss Elizabeth Ford
Now my wife of 32 years
She deserves a medal !
Its been a long journey,I feel very privileged to have shared it with so many people who have helped me along the way.I couldn't have achieved any of this without the support of some special people.I will be for ever grateful.
Thank you.
Michael Oliver
Associate
Oliver's Dental Studio www.oliverdental.com
tel : 0191 5282340
