After pouring years of clinical work, team mentorship and patient care into building a successful practice, selling doesn’t necessarily mean wanting to leave the practice behind. But remaining fully independent may not feel right either, particularly as the pressures and risks of practice ownership evolve.
When Katie and Malcolm Campbell were presented with the opportunity to sell one of their practices to DeNovo Dental Partners, it offered a different path: the chance to reduce some of the day-to-day pressures of practice ownership while remaining closely involved in the business they had built. Katie shares their experience.
“We bought our first practice in 2017 and bought our second practice in 2021. This coincided with the birth of our second child within a matter of weeks. I don’t think we anticipated the level of stress that would come with going from one practice to two and trying to manage that stress whilst having a newborn baby. The second practice was not easy to step into – an established practice with lots of patients to serve, and a dilapidated building that needed a full renovation and refurbishment. The stress levels and quality of life became completely out of kilter at that point.
“Malcom and I are complete control freaks and are really obsessed about the detail. For us, the patient journey was really important. We wanted to remain in control as much as possible because we are really proud of what we’ve built and the loyalty of our team. We knew we couldn’t sell to a traditional corporate because it would never have aligned. Additionally, we didn’t feel ready to sell both practices, but we felt that selling one would alleviate some stress.
“That’s how we came to meet DeNovo. Initially we were a bit confused by the business model and the shares aspect. But we did loads of research, spoke to the right people, and decided that if we were going to sell, it had to be DeNovo – they aligned where no other corporates did.”
Coming to a decision
Practice owners considering a sale often find there is no single obvious route. For Katie and Malcolm, the decision meant balancing the future of the practice with their family life, their desire to remain involved and the importance of finding a partner that shared their approach.
“Selling one of our practices was never part of the plan. We always expected to own and run both practices until retirement.
“While we had considered selling to an associate one day, the practice had grown to a point where its value made that unrealistic. The alternative was simply to continue running it ourselves.
“With two young children, we realised we wanted a better work-life balance and the chance to enjoy more of life now, rather than waiting until retirement. When the opportunity to partner with DeNovo came along, it felt like the right time. It allowed us to step away from many of the day-to-day operational pressures while remaining involved in the practice we’d built.
“The business model seemed to suit us, and after chatting it through with Caron Best (Chief Operating Officer, DeNovo), we felt that she had a really good understanding of our businesses. We like the way they handled it; they weren’t pushy, they simply presented the information, and out of all the corporates that we met, we felt most aligned to DeNovo.
“Throughout the sale process, Kristen Pope (Chief Integration, Partnership & Communication Officer, DeNovo) was our main point of contact and was excellent to deal with. Communication was always open and straightforward. If we had a question or concern, we could simply pick up the phone, talk it through and get it resolved quickly.
“That personal approach really stood out. It never felt like we were just another acquisition, which we’d heard from friends can sometimes happen with larger corporates. Throughout the process, DeNovo stayed true to the way they do business, and everyone we dealt with was approachable, genuine and easy to work with.
“The people involved and their cultural values were the most important factor that led us to join DeNovo Dental Partners.”
Now that we’ve joined
For Katie and Malcolm, the experience since joining has provided further reassurance that they made the right decision – not only through the change in their day-to-day responsibilities, but through the relationships they have built across the wider DeNovo Partnership.
“We sold our practice at the end of December last year. Since then, we’ve continued to encounter members of the DeNovo team and other Partners too. I’ve found it really refreshing to talk to Partners – everyone is really nice, very easy to talk to, and there’s a collaborative vibe amongst everyone. The team at DeNovo wants to constantly improve. It feels like this is really important to them, and they are always willing to take feedback on board.
“The work-life balance we’ve achieved and the people we continue to encounter within DeNovo have reinforced that we’ve made the right decision. People like Emma Delgado Vitória (Operations Manager, DeNovo) and Jack Mole (Finance Manager, DeNovo) are super friendly, approachable, and easy to deal with. Those people continue to reinforce that we’ve joined something that is really good.”
Every practice owner’s circumstance, ambitions and plans for the future are different. At DeNovo Dental Partners, our approach is built around recognising that individuality creating partnerships based on shared ownership and aligned interests, while preserving what makes each practice special.
If you’re beginning to think about the future of your practice, get in touch with the DeNovo team for a confidential, no-obligation conversation.
Media Contact:
DeNovo Dental Partners
Kristen Pope
Chief Integration, Partnership & Communications Officer
Kristen.Pope@DeNovo.Partners
https://www.denovo.partners/
