Denplan has announced the launch of a new dental partnership programme which will see the company enter a partnership with dental practices and help dentists manage succession planning.
Denplan will initially pilot the partnerships with five Denplan member practices, acquiring a 50% equity stake in the practice and becoming an equal partner, with the dentist retaining full clinical management of the practice.
The equity stake that Denplan will acquire of these practices will be set up as a ring-fenced Denplan Company. The new company - Denplan Partnerships Limited - will operate separately from Denplan.
Denplan said this strategy will see the dental insurer strengthen its support, investment and involvement for its member dentists and in the future of private, preventive dentistry.
Steve Gates, managing director of Denplan, said: "Our strategy in launching a new partnership programme has been led by Denplan's member dentists as it has become clear that for many of them, succession planning and retirement is an area that is taking an increasingly high priority.
"By piloting a new partnership programme, we believe that Denplan can play an active role in supporting succession planning for those individual dentists who are considering their clinical and financial future through to retirement."
He added: "The new partnership model will reduce the barriers to a new associate taking over a practice as we will also support the eventual transition to a new owner, who would acquire the dentist's 50% share of the practice.
"This programme will be revolutionary in "guaranteeing" the basis on which the remaining 50% of the practice will be valued, therefore providing real certainty to the dentists who participate. The partnerships will also support the dentist in realising some of the financial benefits of running a successful practice immediately while continuing to take responsibility for the day to day management of the practice, clinical activity and patient care."
