Private Edinburgh dental practice sold after 20-year ownership
Specialist business property adviser, Christie & Co, has announced the sale of Edinburgh dental practice, McCutcheon & Ballantyne.
McCutcheon & Ballantyne is a majority-private income dental practice with three fully equipped surgeries and over 2,600 active patients. The business occupies the ground floor of a three-storey traditional Georgian property situated in the heart of Comely Bank.
The site has been operating as a dental practice since 1929, with only four owners in this time. In 2002, sitting Associate, Mark McCutcheon, and David Ballantyne took over the practice from Cooper & Hall. By the end of 2004, the pair had almost entirely refurbished, modernised, and computerised the practice and, in 2007, a third Partner, Ann McCutcheon, joined the business with the remaining parts of the practice successfully converted to private provision.
The Partners decided to take a step back from ownership after 20 years at the helm. The practice was brought to market on a confidential basis and attracted a substantial amount of interest, with more than 40 enquires received within the first 48 hours of the launch. A competitive closing date followed, with the Partners deciding to accept an offer from Davinder Singh Kalsi and Jonathan Wardell, who they felt “shared a compelling strategic vision which aligned to the existing ethos and their commitment to the highest quality of patient care,” said a spokesperson for Christie & Co
Speaking on behalf of the exiting Partners, David Ballantyne said: “After nearly 40 years in practice, the time was right to move on from dentistry. We have ultimately found an excellent match with Davinder and Jonathan, and I feel confident they will take the practice on to new heights with their skillset and vision for the future.”
Dr Davinder Singh Kalsi said: “Jonathan and I had studied and lived together for four years while in Aberdeen and had long discussed purchasing a practice together. We had been looking for the right practice to purchase in Edinburgh for quite some time and had a very specific criteria list, so we knew right away from the brochure that this was the right practice.
“With Mark, Ann and David going out, myself, Jonathan and Jonathan’s wife Stephanie taking over, it was a perfect fit. It is a practice with a great ethos and patient base, luxury-sized surgeries, and the ability for us to add the treatments that weren’t currently being offered, such as Orthodontic treatment and Implants, allowing us to expand the patient base with a view to adding two surgeries later.”
Paul Graham, Head of Dental at Christie & Co, who handled the sale, said: “It was a pleasure to act on behalf of David, Mark, and Ann in the sale of their practice. The process was incredibly competitive with significant interest and multiple offers received. Not only is this a testament to the quality of the practice but also shows the strength of demand that the Scottish dental market currently has. I wish the new owners – Davinder, Jonathan and Stephanie – every success for the future.”
McCutcheon & Ballantyne was sold for an undisclosed price.