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The Canadian Business Journal: Revolutionizing the Business of Dentistry

Posted Dec 30th, 2014 in the wire, 2014, in the news

Business sophistication and collaboration have propelled Dental Corporation of Canada (DCC) to become a world-class business partner of choice for leading dentists across the country.

“Revolutionizing the Business of Dentistry”

CBJ Jan 2015 | Volume 8 | Issue 1

DCC have acquired and partnered with 110 dental practices generating revenues of $230 million to date. DCC is owned by its Dentist Partners, Management Team and Private Equity Partners. Collaboratively, they uphold DCC’s business model and core values of quality patient care and Partner autonomy.

Launched in 2011, DCC was co-founded by Graham Rosenberg (co-CEO & President) and Dr. Andrew Meikle (co-CEO). Together, they shared a common vision and passion to build a long-term, sustainable company that could significantly advance the business of dentistry in Canada.

Mr. Rosenberg, a businessman with more than 25 years’ experience building businesses across North America and throughout the world, brings with him proven expertise in strategic planning, capital raising and partner-based business models. He identified an opportunity to engage the Canadian dentistry sector and create an investment thesis built on a variation of a similar model being used in the Australian dental market.

Through a chance meeting, Mr. Rosenberg was introduced to Dr. Andrew Meikle, a highly regarded dentist with more than 23 years as a practicing dentist and entrepreneur. In his practice, Dr. Meikle always found the daily interaction with his patients to be the most rewarding. He also has a keen business sense and by 2011, had advanced his Meikle Health Services Inc. to include ten dental practices in Toronto and south-central Ontario.

With the Canadian market for dental services valued in the range of $16 billion, DCC is proud to be a valuable resource in its Partners’ quest to continually deliver optimal patient-centric care while keeping pace with the changing expectations of Canadians.

Quality Care and Future Opportunity

DCC partners with leading, growth-oriented general and specialist dental practices throughout Canada. Beyond the financial benefits of Partnership, DCC’s focus is much broader and designed to maintain and advance quality care and future opportunity. “Our Practice Partners are motivated by the unique DCC model that preserves their autonomy and emphasizes quality patient-centric care, while allowing them to be part of something vibrant and growth-driven,” says Dr. Meikle.

Partnerships are fostered through DCC’s delivery of strategic expertise and tactical resources to support its Partners’ personal and professional growth ambitions. The company’s network has grown to include a large range of general and speciality dental practitioners including but not limited to; Orthodontists, Periodontists, Maxillofacial Surgeons and Pediatric Dentists.

“We have scaled rapidly to become the largest network of dental care professionals in Canada with a community of more than 1,700 employees” says Mr. Rosenberg. “In three short years, we have exceeded our growth expectations, surpassing 110 locations and more than $230 million in revenues.”

DCC Partner Practices extend from coast to coast including British Columbia, Yukon Territory, Alberta, Manitoba, Ontario and Nova Scotia and major markets including Southwestern Ontario, Winnipeg, Greater Vancouver, Greater Calgary and Halifax. The expanding DCC network stems from the success of growing organically through referrals and positive word of mouth. “Our strong reputation is quickly spreading throughout the industry because of our unique business model that values autonomy” says Mr. Rosenberg.

Giving Others a Reason to Smile

Optimal oral health is the cornerstone of overall health and wellness and DCC encompasses this message with its philanthropic commitment and involvement in the community. “Together with our Partners, we developed a long-term CSR strategy to make a positive contribution in communities both locally and nationally’ says Mr. Rosenberg. “In September, we announced a $250,000 donation to support paediatric dentistry at four of Canada’s largest children’s hospitals."

This multi-year philanthropic commitment is an important part of DCC’s CSR platform, which also includes the “Give Back Smile Back” program, a grassroots Partner initiative that provides free oral hygiene and orthodontic appointments to those who do not have regular access to dental care. DCC also supports the "Make-A-Wish Foundation of Canada”, which grants wishes to children diagnosed with life-threatening illnesses.

A Valuable Business Partner for Dentists

The changing dental environment across Canada has dentists constantly facing the increased complexities and challenges of managing their businesses while adapting to advances in technology. The demands of today’s consumers also have dentists competing to exceed client expectations.

Fortunately, DCC’s innovative model provides a valuable business partnership for dentists who want to stay active in their practice with the desire to be more competitive and contemporary in today’s marketplace. “Our unique value proposition gives our Partners distinct advantages over other ‘corporate models’, including continued professional, clinical and operating autonomy and multiple forums for collaboration within our practice network” says Dr. Meikle.

The vision to revolutionize the business of dentistry in Canada is supported by DCC’s core competencies, which provides Partners with world-class support and expertise through resources in the areas of business, and ultimately contributes to growth. These deliverables include maximize operating efficiencies; valuable resources for recruiting and developing talent; assistance with brand positioning and marketing; dental supply purchasing power; and practice administration. DCC delivers these to its Partners and practices in various ways:

  • Talent Development: DCC assumes responsibility for assisting its practice community in attracting, retaining and training the very best dental care professionals in the industry.
  • Multi-disciplinary Marketing: DCC creates and implements marketing programs that educate and contribute to the Canadian dental consumers’ practice selection process. These include building an online presence, establishing local community intercepts and internal marketing programs to build referrals.
  • Optimizing Practice Growth: Practice Advisors support the growth agenda of DCC Partners by collaborating with the practice community in the deployment of their organic growth toolkit, which supports efficiency in achieving optimal patient care and business success; and
  • Financial Tools & Resources: Monthly practice-level business reporting (including financial results and key performance indicators) provides Partners with a clear picture of overall performance and an opportunity to identify gaps and key areas of growth in a timely manner.

DCC also provides internally developed strategic services and tactical resources. “Our innovative organic growth toolkit and labour deployment model deliver operating efficiencies and drive optimal patient care, resulting in sustainable, profitable practice growth” says Dr. Meikle. “Access to technology, training and formal compliance programs further enhances our ability to advance the business sophistication of dentistry.”

To further encourage its Partners’ growth ambitions, DCC embarked on a significant proprietary research study in June 2013 to better understand the habits of the Canadian dental consumer. “The research provided unparalleled insights into the key drivers of loyalty, satisfaction and selection among Canadians” says Mr. Rosenberg. This allows Partners to tailor their marketing and service approach to remain competitive within the evolving sector while at the same time, motivates DCC towards its long term plans of doubling the business within the next three years.

The Canadian Business Journal Jan 2015 | Volume 8 | Issue 1

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