Our specialist healthcare team which covers our four offices, acts for dentists, medical consultants, vets, chiropodists, pharmacies, care homes and GPs.
We have helped our clients to maximise profit, improve cash flow and reduce increasing tax burdens. We understand the challenges of funding, increased operational costs, including the rising costs of supplies, materials and laboratory charges and the fluctuation of customer choices of standard versus cosmetic dentistry in the current economic environment. We also recognise that capital management is a key consideration for the sector, in particular, monitoring product shelf life against rate of usage to ensure client service is maintained.
In addition, with many healthcare businesses exploring different trading models, we advise on the best structure to fit your business plan, be that partnership, LLP or limited company.
With the ongoing challenges around funding, particularly from the NHS, we also support our clients with strategic planning and business improvement, including lean management workshops.
Succession planning for a dental practice can be a complex process. We advised Union Street Dental Care with transition to a new owner. We successfully managed the changeover to enable an associate dentist to become the owner of the business. As well as being involved in the initial discussions and planning phase, we worked in conjunction with other advisers and also negotiated funding from the bank.
By working closely with the practice, we ensured the transfer was as efficient and seamless as possible for all stakeholders involved.
The former associate is now running the business, with MHA Henderson Loggie providing accounting, tax and on-going business advisory support.