Bridgepoint Confirms Acquisition Of Oasis Healthcare
Bridgepoint, a private equity firm, has confirmed the acquisition of Oasis Healthcare, one of the UK’s largest dental chains and a major provider to the NHS.
Bridgepoint sealed the acquisition from Duke Street Capital in a deal reported to be worth around £185 million. Oasis has more than 200 dental surgeries across the UK and is a major provider to the NHS. The firm employs around 800 dentists and a total of around 2,000 members of staff.
A spokesman for Bridgepoint said that Oasis Healthcare had performed well over the course of the last few years, despite economic troubles affecting wider society. The dental industry is worth in excess of £7 billion and more private practices have opened in recent years to tap into the trend of paying for dental care, which has become increasingly apparent, especially among older people.
Bridgepoint’s other investments include Pret a Manger and high street retailer, Fat Face. The company also acquired Leeds Bradford Airport in 2007. The firm has said that it will invest £60 million into the business to facilitate expansion. Chief executive of Bridgepoint, Justin Ash, said that there are plans for a “rapid expansion.” Duke Street Capital will also use some of the funds from the sale to invest in the firm in order to retain a minority share in the business.
Oasis Dental Care has practices all over the UK and provides both private and NHS dental care, including specialist dentistry and cosmetic dental treatment.
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