UK Dental Provider Seeks Indian Talent Amid Growing Losses

One of Britain’s largest dental care providers, Mydentist, has reported a significant increase in pre-tax losses, reaching £57m in the year ending March 2024, up from £35.6m in the previous year. Despite these challenges, the company managed to boost its revenue to £573.8m, up from £534.6m in the previous period.

Operational Changes and Restructuring

The company’s operating profit saw a notable decline from £16m to £6.1m, primarily attributed to significant expenditure on systems transformation and complications with utilities contracts. In line with its strategic vision, Mydentist has reduced its practice network from 545 to 534 locations, describing this as part of its “growth strategy, which involves the merger, relocation or expansion of smaller practices with limited growth opportunities.”

Recruitment Drive Turns to International Markets

In response to domestic staffing challenges, Mydentist is actively pursuing international recruitment opportunities, particularly in India. The company has highlighted that UK recruitment has been hampered by “the limited number of places available across UK dental schools.” In a significant development, the business has established a partnership with a leading Indian dental school, which they describe as “a first step to maximising the opportunity” presented by recent regulatory changes.

Regulatory Changes Open New Doors

The modification of Section 60 legislation in early 2023 has created new possibilities for international recruitment. Mydentist’s leadership expressed optimism about these changes, stating they are “expected to substantially reduce the barriers to recruiting clinicians from overseas.” The company anticipates seeing positive impacts from these regulatory adjustments “from the end of FY2025 onwards.”

Future Outlook

Despite current challenges, the company maintains a positive outlook. The board has expressed confidence in their position, noting “strong patient demand for both the group’s NHS and private dentists services.” They have also highlighted encouraging performance in recently merged and expanded practices under their organic growth programme.

Workforce Developments

The strategic changes have had an impact on staffing levels, with the average number of employees decreasing from 6,414 to 6,289. However, the company maintains that these adjustments align with their broader strategic objectives and future growth plans.