Bridgepoint’s Oasis Healthcare acquires Apex

The deal closely follows the company's acquisition of Smiles Dental last month. The two latest additions, conducted within six weeks of each other, will increase Oasis's turnover by 40%, increasing from £160m to more than £225m. Its practice network will grow by more than 50% from 204 to 310 providing NHS, private and specialist care to more than three million patients.

Oasis stated that it continues to have ambitious growth plans and has a strong pipeline of acquisitions and new builds. It was introduced to Apex by KPMG.

Acquisitive growth within the sector is strong, as exemplified by Carlyle- and Palamon-backed IDH's acquisition of The Dental Directory earlier this month.

According to a 2012 YouGov report, the UK dental market has reached an estimated £5.7bn after experiencing a strong period of growth during the last decade.

Debt
Debt financing was provided by a banking corsortium.

Company
Founded in 1997, Apex has 31 practices across England, offering both NHS and private dental care. Oasis is currently trialling NHS pilots within its practices, including one within the Apex estate. The healthcare provider is headquartered in Reigate and has approximately 300 employees.

People
Justin Ash is CEO at Oasis. Ben Chaing is CEO at Apex.

Advisers
Company – PwC (Corporate finance); LinkLaters (Legal).

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• Topics
• UK / Ireland
• Healthcare
• Portfolio management
• United Kingdom
• Bridgepoint