AUSTRALASIAN DENTIST 109 AQUISITIONS “I suppose all the business knowledge and failures that I’ve had in the past helped me build this practice,” he reveals. “I’ve also owned two other practices prior to The Avenues, so I’ve already built quite a patient following by then.” Dr Thorpe is thankful that dentists from previous workplaces had joined him at The Avenues, and brought along their own patients; as well as those who stayed on as part-time dentists after the changeover, who helped to prevent an exodus of existing customers. “So I was kind of lucky in that I had brought together a lot of people quickly and now we’ve got a great culture,” Dr Thorpe says, adding that no one has left since the practice takeover. He further credits The Avenue’s steady growth to quality, good value dentistry, friendly efficient service and targeted marketing in the early stages, dovetailed withthe implementationof longeroperating hours that made the practice stand out in the competitive neighbourhood. Additionally, it helped that the clinic sits in a high profile corner boasting heaps of period character, which “quirkiness” was subtly preserved by the renovation design. For the latter, Dr Thorpe opted for an edgy 80s-inspired theme with a gaming vibe – complete with a Nintendo machine in the waiting area and framed posters of super heroes adorning the corridor walls. “We decided on a non-traditional interior design that added a light-hearted and relaxed feel to the atmosphere, which kind of works,” he says. “It’s not everyday that youfind someone playing Space Invaders while waiting their turn in a dental clinic.” Allaying preconceived notions As part of the sales contract with Ekera Dental, Dr Thorpe agreed to carry on as the practice principal for another three years. Now selling the practice was one thing. Working for a corporate dental buyer for three straight years following the sale, on the other hand, was certainly not what a younger Michael Thorpe would have envisioned back in the day. “I’ve heard rumours about corporate dental groups in the past, giving rise to some preconceived notions against selling to one. The overarching issue is that they tend to over-systemise and over-brand the clinics they acquire, and then everything’s about the KPIs,” he explains. “The corporate model also tends to be cookie cutter by design, which is definitely not how I run my business.” He is equally unambiguous about the appeal of Ekera Dental’s business model: “They had none of that!” Dr Thorpe gravitated towards the practice acquisition firm’s informal identity of being a “noncorporate corporate”. “Ekera Dental has a hands-off policy that lets you continue doing what you’re doing,” he qualifies, “which suits me down to the ground.” The changeover did not introduce any discernible difference at the front end – everything from the signage and branding to the website and dental team remained as they were. Patients were blissfully unaware of the practice sale, which Dr Thorpe believes provided a seamless transition for the team and their customers. So far so good Having only recently partnered with Ekera Dental, Dr Thorpe has yet to fully access the benefits. So far, apart from relinquishing the “mind-numbing payroll aspects” of his responsibilities and gaining “better buying power”, Dr Thorpe says he also experienced Ekera Dental’s Australia-wide network and resources. He recently hired a new dental assistant, who had just left one of the group’s Gold Coast clinics. “She’s starting on Monday and I’ve got a feeling she’ll be fantastic,” he enthuses. “She’s already got glowing reviews!” In hindsight, the partnershipwith Ekera Dental mirrors the comments shared by Dr Thorpe’s dentist friends – Drs Brendan Nasser and Brendan Guthrie, ex-partners of the Toowong Dental Group that was sold to Ekera Dental in 2019. Dr Thorpe heard only positive reviews when he consulted them about the buying group as part of his research. “Having sold the practice about three years ago, both of them are still very impressed, especially with the way Ekera Dental ran the operations through COVID-19 and all that stuff. “The recurring feedback is that they leave you alone as long as things are going well and are prompt in providing input on things that you ask for. “I’ve only been working at Ekera Dental for three months, but I can already concur that things have been going smoothly.” These days, you’re quite likely to spot the happily married dentist and father of three grown up sons on the tennis court, or out surfing and fishing. At the office, he relishes every opportunity to focus on the clinical side of dentistry without the administrative hassles. Of course, the financial freedom also helps with the leisurely lifestyle. Put simply in Dr Stephen R. Covey’s vernacular, we can safely check off ‘Habit 2’. u
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