1300Smiles LTD acquires 60-year old Sydney practice

1300SMILES Ltd advises that it has entered into a conditional contract to acquire a dental practice in a lower north shore suburb of Sydney, approximately 5 kilometres from the central business district.

The practice was established 60 years ago by the father of the principal dentist, and was relocated to its current location in the early 1980's. The practice has recently been fully renovated, and is now a modern, beautifully appointed, fully computerised and almost paperless practice.

The company is delighted that the principal dentist will be continuing to provide an extensive range of dental services following completion, including implants and complex restorative (crown and bridge) work. The company plans to increase the number of dentists working in the practice, and assist the existing dentists to grow their practices. The practice has capacity for up to 5 full time equivalent practitioners.

The company also plans to make its $1 a day Dental Care Plan available to the practice's patients and dentists.

Whilst not financially material overall (given the scale of the company's established operations), this practice is strategically significant as it represents a further expansion for the company into the New South Wales market.