Dr Michael Formenius, the founder of Dr Michael’s Dental Group, has regained a controlling interest in the company through a structured financing deal led by ASCA Capital.

The transaction, with an anchor investment from Bahrain National Holding Company (BNH), is valued at nearly $25 million.

The funding will be used to pay down existing debt and support expansion plans, including new clinics and services, as well as hiring more staff. Founded in 1997, the group operates four specialised clinics and a multidisciplinary dental centre, employing more than 200 staff and operating 50 dental chairs.

Dr Formenius expressed his pride in regaining control of the group he built. “We’ve built something truly unique in the region,” he said, thanking ASCA Capital for its partnership.

Tom Hodgson, co-founder of ASCA Capital, called the group a “flagship name in the UAE’s healthcare landscape,” citing its strong reputation and clear growth plan.

BNH Group chief executive officer Raed Fakhri stated the investment aligns with their strategy of “partnering with reputable investment firms and exceptional businesses.”

Legal and advisory support for the transaction was provided by Addleshaw Goddard, Nucleus Consulting, and Greybeard Healthcare Consulting.

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