The number of corporate groups buying small healthcare practices has increased over recent years in order to expand their brands and networks, and we have acted for several sellers in such situations, including opticians, dentists, pharmacists and vets.
A sale to a corporate group can be an attractive prospect but it is essential that robust legal advice is taken to ensure the terms of the deal are well negotiated and the best outcome for the seller is achieved.
We recently acted for an optician with two Edinburgh branches that were sold to Vision Express (UK) Limited. One of the properties was owned by the proprietor and a lease to Vision Express was negotiated, giving our client an on-going rental income. The continued job security of employees in such a scenario can be of concern to the outgoing owners and, in this case, our employment team assisted in providing advice on the transition of staff to the corporate group under the Transfer of Undertakings provisions (TUPE).
In another matter we acted in the sale of a boutique dental practice to MyDentist, the largest UK corporate provider of dental services. Our experience in the sector ensured that our client was able to achieve a strongly negotiated exit from the business. We also negotiated new contracts for the outgoing owners to remain as associates, again ensuring future flexibility for our client.
Selling to a corporate group won’t be for all but our experience puts in handling these matters means our clients are in the best position to negotiate an excellent outcome.