Greater London dentist and entrepreneur has expanded his business with the help of a £7.2m loan from Unity Trust Bank, snapping up four new practices — including Angel Dental Practice in Enfield and three Dental Art Studio clinics in the City of London.
The acquisitions take Mani’s portfolio to nine – with his Smile Studios chain already operating in Richmond, Heston Hounslow, Palmers Green, Muswell Hill and Cockfosters.
Unity has provided finance for seven of Mani’s practices, and the former Royal London St Bartholomew’s Dental School honours graduate says he has plans to grow further.
Mani said: “I always knew that I wanted to build my own brand; a brand that is recognisable for its clinical
excellence and patient satisfaction.
“The first practice I bought in Richmond from the previous ownership was losing money. I knew the area well and knew I could turn it around. Turnover doubled in my first year.
“Since then I’ve implemented new systems, policies and protocols at all of my practices but the fundamentals are the same.
“Putting customers at the heart of what we do is so important, but so is taking care to do the right thing.”
Mani’s practices serve around 100,000 patients and employ 130 people. New apprenticeship opportunities for dentists, dental nurses and admin staff are created every year.
A well-respected voice in the dental sector, Mani provides regular media commentary as well as lecturing to dental students about how to run your own practice.
Mani said: “I was introduced to Unity in 2019 and they understood my vision.
“My relationship manager, Paul Kelly, is always there when we need him.
“While other banks have been interested, Paul brings simplicity and reality to the situation. They’re the two key fundamentals I think you need in any acquisition. Anyone can paint a pretty picture but at the last minute everything collapses.
“Whether you’re buying your first or your tenth practice, it’s very important to have a relationship manager like Paul because he listened to what we wanted and was honest with us on the numbers and the projections.
“He was dedicated and patient and we learned a lot through the process. That made a big difference to us.
“Unity has a good appetite for the dental sector. I have aspirations to grow and knowing that we’ve got the support from our bank is great.”
Paul Kelly, relationship manager at Unity Trust Bank, said: “Unity is a purpose-driven bank committed to supporting frontline healthcare providers who provide much-needed services in local communities.
“Mani has built up an impressive portfolio and we’re proud to have supported him for the past six years.
“These latest acquisitions were complex. They involved four separate sites and a short time frame to work to. Thanks to our collegiate approach and the relationship we have built with our customer, we’re delight there was a successful outcome for everyone.”