Australasian Dentist Issue 92

CATEGORY 110 AUSTRALASIAN DENTIST AQUISITIONS Relationships are paramount Having been through multiple iterations, Dr Cichero has seen the partnership at CP Dental evolve over the years. Yet management shuffles have never been allowed to interfere with the practice’s continued growth and expansion. “In much the same way, nothing has changed now that CP Dental has come under Ekera Dental’s umbrella group,” he adds. Dr Cichero’s confidence partly stems from the due diligence he and his partners have undertaken prior to the sale. On- off negotiations with Ekera Dental alone spanned 5 years. “We went to great lengths to ensure continuity with minimal disruptions,” he says. “That means the four partners will continue to be decision makers, and the structures that we’ve put in place will continue to be utilised.” For more than a decade, CP Dental’s burgeoning size made it an attractive target for corporates. Despite numerous discussions with potential buyers, the partners found themselves going back to Dr Tony Coulepis, the Executive Chairman of Ekera Dental. “We certainly felt that only Ekera Dental offered us the best opportunity to maintain status quo; functioning the way we always have,” he affirms. Asked what gave him that impression, Dr Cichero replies emphatically: “The people. I can’t stress that enough. While it’s still a business transaction, the relationships are paramount in any decision making process. “Whether it is Tony, Elliot (Opolion) or Rob (Harwood), everyone from the Ekera Dental team with whom we’ve interacted gave us the confidence that we were able to work together as a team. Labour of love Dr Cichero says all the former business partners of CP Dental chose to stay on as principals after the sale – and remain passionate as ever about growing the business. “This is a labour of love and a lifetime of work,” he enthuses. “Although the new partnership is only six months old, we are confident that Ekera Dental has the resources and the right people to meet the challenges ahead. “Because the new team complements the existing one so well, this new partnership looks set to take the practice to even greater heights.” u