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KESWICK, UK: Despite potential reform and uncertainty in the field of public dentistry, NHS practice sales as a percentage of goodwill are further on the rise. According to the latest quarterly survey published by the National Association of Specialist Dental Accountants and Lawyers (NASDAL) in January, the average goodwill value secured for a practice with an NHS contract has further increased from 125% to 140% of turnover between the last two quarters of 2015.
Mixed practices have also surged ahead with an average goodwill rising from 115% to 122% in the same period.
The average goodwill value of private practices, however, fell slightly from 81% to 76%.
“These figures reflect what we have seen on the ground as one of the largest transactional dental lawyers in the UK,” Ray Goodman, Managing Director of Goodman Grant Solicitors, said. “The downturn in valuations I would suggest may be down to the many that are carried out for other purposes rather than sale e.g. incorporation, probate and so on.”
UNW specialist dental accountant and partner Alan Suggett warned that such high values being paid for NHS practices might be counter-intuitive considering the current uncertain market environment.
“Both corporates and mini-corporates appear to be voracious in their appetites and are almost in a type of ‘land grab’. However, the demand is there and the market is simply responding to that,” he said.
The figures are collected from NASDAL members and published on a quarterly basis.
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