Main Private Dentists Limited is the new company set up by James Main to purchase Main Dental Partners Limited, the company that James Main founded 3 years ago with the help of investors. With this purchase Main Private Dentists Ltd will acquire 3 private dental practices along with the IP and legal framework to develop Main Private Dentists into a national chain of private only dental practices

James Main is a qualified dental surgeon and entrepreneur and has been a dentist since 1984. He has bought and sold private dental practices since 2002 and has a track record of increasing the turnover of private dental practices by about 20% to 30% per year. He has been the finalist in a number of National dental awards and has developed successful in practice and public marketing strategies that result in the growth of turnover seen in the practices he has managed.

Currently the dental market has a number of large corporate companies that between them own over 1000 practices and a larger number of operator owner practices most of which are a mix of NHS with a private component trying to deliver 2 standards of service with the same team at the same location. There is a general disatisfaction with this arrangement both in the Dental Profession and the public in particular with Corporate dental practices and this will get worse as budgets tighten within the NHS system which always has had a disproportionate impact on NHS dentistry. Over the next 10 years and into the future there will be a growing need for a trusted national brand of private dental practices and Main Private Dentists aim to create that brand by developing new dental practices where it can set up the right culture, ethos, organisational structure and brand from the start to meet this challenge.

For the investor in this 1st stage of funding there are clear benefits both immediately and a clear exit strategy and first refusal to invest in the 2nd stage funding with EIS qualifying shares.The stages are as follows:

1. Purchase of Main Dental Partners Ltd paying the investors 10%pa interest paid on a monthly basis for a 3 year term.

2. Sale of 2 of the 3 MDPL practices. The current indicative valuation range of the 2 practices are between £837,000 to £1,045,000. Even at the lowest valuation this will be enough for the initial investors to exit or stay until term and with capital towards the development of the new practices

3. 2nd tranche of fundraising through the sale of EIS qualifiable shares to raise further capital for the development of Main Private Dentist practices. The initial investors would be given first refusal of this share offering. 

MAIN PRIVATE DENTISTS SHARE STRUCTURE AND EXIT STRATEGY 

Share Structure 

Currently 100% of the shares in Main Private Dentist Ltd(MPDL) is owned by James Main 

Upon the purchase of Main Dental Partners Ltd(MDPL) 100% of the shares and all the assets will be owned by MPDL subject to legal obligations to the existing shareholders and loan notes dependent on the amount of payment to be deferred. 

Investors in the loan crowdfunded by crowd for angels will have a debenture over 100% for both of the company shares along with a floating charge on all the assets of Main Dental Partners Limited (MDPL) on the acquisition of the company

Exit Strategy 

The exit strategy is based on the sale of 2 of the 3 practices currently belonging to MDPL. The current minimum valuation of the practices is £837,000. There is a vibrant market for dental practices, especially for private or mostly private dental practices which are the profile of these 2 practices. For the investor the exit strategy will be either: 

• Capital of loan to be paid from proceeds of the sale of the dental practices at term

• Early repayment of loan upon the sale of the 2 dental practices with first refusal to invest in EIS qualifying shares in Main Private Dentists Ltd to develop new practices