A family-owned dental practice is set to receive significant investment after being sold by its long-standing former owners, in a deal completed by various local dealmakers.
Ridgway Dental Practice, in Chester le Street, has been owned by Paul and Marjorie Ridgway since 1996.
The practice has expanded from its original home on the town’s high street into larger premises on South Burns, increasing from one to six surgeries and raising patient numbers to 25,000.
The sale of Ridgway Dental Practice was brokered and completed by dealmakers at law firm Sintons, accountants UNW and specialist business property advisor Christie & Co, all of which are prominent advisors in the healthcare sector and have collectively overseen a number of major deals in this sphere.
Marjorie, who has worked with her husband at Ridgway Dental Practice for the last few years, said: “When we first started off in Chester le Street, it was in a little premises based above a butcher’s shop.
“Now we have a really nice dedicated premises and have seen strong growth in terms of patient numbers, numbers of surgeries and how many people we employ.
“We have become well known to so many people in the town, and really feel part of the community.
“It was a difficult decision to sell, and is one that Paul made for personal health reasons, but we are happy to have found a buyer who we believe will bring the business on. It was important to us not to sell to a big corporate, but instead someone who would have the same approach as us and run it as a family business.”
The specialist nationally-renowned dental team at Sintons completed the deal on behalf of the Ridgways, who are long-standing clients of the firm.
Amanda Maskery, head of NHS healthcare at Sintons, alongside head of corporate and commercial Karen Simms, and real estate partner Victoria Armstrong acted for the couple.
Paul Graham, director at Christie & Co, handled the sale. He added: “It was great to be part of this significant sale and work alongside Amanda and Alan, who helped ensure a smooth transaction.
“Paul and Marjorie were keen to find a buyer who would continue the legacy and reputation of their excellent practice.
“Following a successful marketing campaign and multiple bids being received, we found the perfect buyer. The business sold in excess of the original asking price, highlighting the continued demand for dental practices across the region with demand outstripping supply.”
The Malhotras were represented by Betsan Powell from JCP Solicitors in Swansea and John Minford from Minford Chartered Accountants, York.
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