BUPA Finance PLC Bupa to acquire Oasis Dental Care (5480P)
18 Novembre 2016 - 8:01AM
UK Regulatory
TIDMBUPF
RNS Number : 5480P
BUPA Finance PLC
18 November 2016
Embargo: 07:00 GMT
18 November 2016
Bupa to acquire Oasis Dental Care,
the UK's leading private dental provider, from Bridgepoint
Today, Bupa announces it has agreed to acquire Oasis Dental
Care, the UK's leading private dental provider, from Bridgepoint,
the European private equity group, in a transaction totalling
GBP835 million.
The move is a significant milestone in Bupa's strategy to offer
customers high quality dental services. Bupa will become a major
dental provider in the UK's GBP7.1bn[i] dental market, with over 2m
customers, over 1,800 clinicians and 420 clinics.
Bupa UK Managing Director, David Hynam, said: "There's strong
customer demand for high-quality, value-for-money dental services
that are convenient and easy to use. Bupa and Oasis have a shared
commitment to putting customers first, and we look forward to
working together and welcoming the Oasis team into Bupa."
Oasis CEO, Justin Ash, said: "Our growth is accelerating and
enthusiasm is building amongst dentists and customers. As part of
the Bupa family, we can really develop further and continue to
transform the UK dentistry market. Above all, the success of Oasis
is built on the talent and commitment of our clinicians and staff,
and the loyalty of our two million customers. We will continue to
focus on their needs every day."
The transaction is subject to regulatory approvals.
- ENDS -
For more information, please contact:
Bupa:
-- Media: Sally Pain or Jo Simmons on +44 (0) 207 656 2454 or email bupapressoffice@bupa.com
-- Investors: Gareth Evans +44 (0) 207 656 2316
Oasis: Damian Reece +44 (0) 7931 598 593
damian.reece@instinctif.com
Bridgepoint: James Murray on +44 (0) 207 034 3555 or email
james.murray@bridgepoint.eu
Notes to Editors:
-- The UK dental market was estimated as GBP7.1 billion in
2015/16 (52% private and 48% NHS). It is forecast to grow by 2.1%
(CAGR) per year by 2020/21. Underlying long-term growth is driven
by structural factors including favourable demographics such as
ageing and a growing population, government policy trends as
dentistry becomes a higher profile public service, and the growth
in cosmetic dentistry.
-- Oasis Dental Care is the second largest dental provider in
the UK, and the only branded operator of scale in its market with
380 practices and over 1,800 dentists, serving both the private and
public sectors in equal measure. Oasis Dental Centre has annual
revenue of GBP277m for the financial year 2015/16, more than 6,000
people and serves 2m active patients in the UK.
-- Bupa is a global health and care company. It has dental
businesses in the UK, Australia, New Zealand, Spain, Chile, Poland
and Hong Kong. Bupa's status as a company limited by guarantee with
no shareholders means customers are the focus, with Bupa
reinvesting our profits to provide more and better healthcare for
current and future customers. Around 70% of Bupa's revenue is from
health insurance, with the balance coming from health and care
provision. In 2015, Bupa had annual revenue of GBP9.8bn. It employs
84,000 people, principally in the UK, Australia, Spain, Poland, New
Zealand and Chile, as well as Saudi Arabia, Hong Kong, India,
Thailand and the US.
[i] Source: L.E.K. figures 2015/16
This information is provided by RNS
The company news service from the London Stock Exchange
END
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