Bidding War Underway For UK’s Second Largest Dental Chain
A bidding war is underway for the UK’s second largest dental chain, Oasis Healthcare.
According to the latest reports, four firms are vying to take over Oasis Healthcare, which is owned by Duke Street Capital, the competing firms are believed to be CapVest, Omers Private Equity and Bridgepoint Capital and the fourth company is unknown.
Initial bids for the dental chain were between £140 and £160 million and second round bids will be made by the end of January.
When the sale process began in June last year, the estimated bids were around £250 million however, the management indicated that the number of practices owned by Oasis had fallen from 203 to 200 and revealed adjusted annual profits of around £19 million. As a result of the information, the actual bids were lower.
The bids also reflect concerns about the future of the UK dental industry, including new NHS contracts, concerns raised by an Office of Fair Trading investigation into UK dental care and increases in property rental prices.
It is believed that Oasis made presentations to seven potential bidders, including Bupa and GI Partners.
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Fourth company unknown …. Hmmmm wonder who that could be, quite obviously Carlyle Group. IDH and Oasis to merge, largest NHS corporate who want to increase their private … Bad news !!!