Noble Partners, a Regional Private Equity firm investing in early and growth capital stage opportunities with emphasis on healthcare, education, and technology sectors across the Middle East, announced the successful exit of its majority stake in a leading UAE Dental Chain, “The Dental Studio”, a specialized dental service provider offering high quality and specialized dentistry and oral surgery out of its five centres in Dubai. The five dental centres are home for 110 employees including 35 internationally qualified dentists, using the latest technologies in treatments. It was established in 2004, and presently provides its patients with a wide range of treatments through a team of experienced professionals specialized in cosmetic dentistry, implantology, paediatric dentistry and orthodontics, under the leadership of Dr. Jaco Smith, who enjoys an exceptional reputation, and is recognized for the excellent quality of its doctors and dentistry services in Dubai.
Ammar Al Khushashi, Co-Founder and Managing Partner at Noble Partners said: “The Healthcare Market in the GCC has grown tremendously over the last 15 years, and we expect its growth to continue supported majorly by increased government spending”. He added: “Noble Partners investment in The Dental Studio was part of its strategy of increasing its exposure in the Healthcare Industry across the Middle East. During the investment period, The Dental Studio expanded its local footprint from one fully-fledged Dental Centre to five Centres across Dubai, achieving a CAGR of 45% and 39% in its revenues and EBITDA respectively”.
Dr. Jaco Smith, Founder & Group CEO of The Dental Studio commented: "I along with my professional colleagues built a brand over the past years, a brand that has attracted qualified dentists and served a large patients base in a very professional manner. As we progress, we remain focused to deliver our vision to be the world-class care in a nurturing environment. We were also happy partnering with Noble Partners as a value-adding partner who gave us the ability to accelerate our growth and expansion in the UAE. As we see hands changing, we now have a new partner, Olive Rock Partners, an independent private equity firm, and active in healthcare private equity investments in the GCC. We look forward to expanding our brand further to the rest of the GCC markets, be wider heard with a bright future.”
Samer Qudah, Managing Partner at Al Tamimi & Company said: “We worked alongside our client diligently throughout this transaction to ensure the desired outcome was achieved. Noble Partners were able to tap into the expertise and extensive experience of our Corporate Structuring and Corporate Commercial teams and they ensured no stone was left unturned in achieving the clients desired outcome. We are proud to have worked on this transaction and it exemplifies our continuing track record in advising on Healthcare M&A deals in the market”.
