Fortis Global Healthcare Holdings Pte Ltd, a company owned by Malvinder Mohan Singh and Shivinder Mohan Singh, has agreed to a A$100 million strategic investment in Dental Corporation, Australia and New Zealand’s largest operator of dental practices.
Dental Corporation, one of Australia’s fastest-growing companies, was founded in October 2007 to acquire and partner with high-quality general and specialist dental practices. In the past 30 months, the company has enjoyed strong growth fuelled by increasing demand for dental services, a lack of leadership in a fragmented market of more than 10,000 dentists, and Dental Corporation’s successful business model.
Dental Corporation’s business model is focused on providing business administration services including Human Resources, Accounts Payable, Payroll, Marketing, IT, Finance, Supplier Relations and Operations, enabling each practice to focus on clinical dentistry and patient care.
Consequently, Dental Corporation’s revenue has grown more than fourfold from A$40.3 million in FY08 to A$182.6 million in FY10, despite the global financial crisis. It now owns 135 practices located across Australia and New Zealand. The company was named the winner of the inaugural Business Review Weekly ANZ Award for fastest growing private business (turnover more than A$100 million category) in 2009 and was announced as a finalist in 2010.
Consequently, Dental Corporation’s revenue has grown more than fourfold from A$40.3 million in FY08 to A$182.6 million in FY10, despite the global financial crisis. It now owns 135 practices located across Australia and New Zealand. The company was named the winner of the inaugural Business Review Weekly ANZ Award for fastest growing private business (turnover more than A$100 million category) in 2009 and was announced as a finalist in 2010.
Fortis’ latest acquisition, the second in two months, marks an important step in achieving the Singh family’s vision of creating a premier global healthcare group outside India. In November, Fortis Global Healthcare completed the acquisition of Hong Kong based Quality Healthcare.
Fortis Global Healthcare is the family’s international vehicle, spearheading the creation of a global integrated healthcare platform. It intends to build and aggregate healthcare businesses and assets across all healthcare segments including diagnostics, primary care and hospitals.
The objective is to create an integrated healthcare business, leveraging of synergies and scale, driven by quality medical professionals and infrastructure and providing patient-centric care and healing.
In addition to Fortis Global Healthcare, the family also owns a majority stake in the Indian-listed Fortis Healthcare Limited, a leading hospital chain in India. Fortis Global Healthcare Holdings Pte Ltd is committed to providing premier patient-centric healthcare across Asia and Australia. Fortis Global Healthcare is owned by the family of Malvinder Mohan Singh and Shivinder Mohan Singh (the "Promoter Family).
In addition to Fortis Global Healthcare, the family also owns a majority stake in the Indian-listed Fortis Healthcare Limited, a leading hospital chain in India. Fortis Global Healthcare Holdings Pte Ltd is committed to providing premier patient-centric healthcare across Asia and Australia. Fortis Global Healthcare is owned by the family of Malvinder Mohan Singh and Shivinder Mohan Singh (the "Promoter Family).
The Promoter Family is also the owner of a majority stake in Fortis Healthcare Limited, which is separately listed and is a leading hospital operator in India. The Fortis Healthcare network’s capability covers multi-speciality hospitals and super-speciality centres that provide tertiary and quaternary healthcare to patients in the major medical specialities in India.
Dental Corporation is a private Australian company, founded in 2007 to partner and acquire premium general and specialist dental practices. Currently operating in 135 practice locations throughout Australia and New Zealand, Dental Corporation is the premier dental services provider with annual revenues exceeding $250m.
Dental Corporation is a private Australian company, founded in 2007 to partner and acquire premium general and specialist dental practices. Currently operating in 135 practice locations throughout Australia and New Zealand, Dental Corporation is the premier dental services provider with annual revenues exceeding $250m.
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