Tuesday 21st June 2005
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Following settlement (expected in early July), Excel Dental Care in Hamilton and Te Awamutu will operate under the new Lumino dental brand, launched by Abano Dental in May 2005.
The acquisition further expands the Abano Dental network outside of the greater Auckland region, with a growing number of additional investment and acquisition opportunities currently under investigation.
The two new dental practices will add revenues of $1.5 million to Abano Dental and provide a return on investment of greater than 25 percent on the practices' contributing pre-tax profits. Both have a wide patient base in their communities, and offer high end corrective and cosmetic dentistry. Currently, there are five full-time dentists and two dental hygienists, and no changes to staff or the current dental offerings are expected.
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