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MyDentist (IDH)  (UK)

1999

Private

Status: Performing

All payments are on time

BACK TO MARKET


Coupon

L+6%

Current Yield

6.4%

*
Estimated Yield to Maturity

6.7%

**
Maturity Date

15 Aug 2022

Next Interest Payment

15 Nov 2018

Interest Payment Frequency

3 months

Asset Security

First ranking charge over company assets

Industry

Healthcare

Amount

£150,000,000

ISIN

XS1458419840

Ratings

S&P:  B-, Moody's  Caa2


Business Description

IDH trades under the mydentist brand and is Europe’s largest vertically-integrated dental business and the United Kingdom’s number one dental practice chain. The company has 598 NHS dentistry contracts across a network of 677 dental practices throughout England, Scotland, Wales and Northern Ireland. As at 31 March 2016, IDH's patient services division had a market share of approximately 7% in terms of revenue and a market share of approximately 5% in terms of number of practices and held contracts for approximately 15% of all units of dental activity commissioned in England and Wales. IDH dental practices, operating under the “mydentist” brand, offer a broad range of primary care dental services, including dental examinations, fillings and extractions, as well as more specialised dental services such as cosmetic dentistry and orthodontics. IDH is also a leading provider of private dentistry services in the United Kingdom, which has grown quickly as the UK economy has strengthened. IDH operates in the UK dental market, which benefits from stability in terms of volume and pricing and from favourable systemic trends, including continued government focus on improving access to dental services, favourable demographic trends and an increasing overall spend on dentistry. Through their practice services division, IDH is a leading supplier of dental and other medical consumables and materials and services (including installation and servicing of specialized dental equipment), selling dental supplies and services to at least 8,000 dental practices, including its patient services division’s dental practices, with an estimated market share of 25% in the United Kingdom, by revenue.

Capital at risk. No FSCS cover. See Risk Statement.

 

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WiseAlpha Technologies Limited (FRN: 751087) is authorised and regulated by the Financial Conduct Authority in the UK.
WiseAlpha Technologies Limited is a company registered in England, with its registered office at Level 39, One Canada Square, Canary Wharf, London E14 5AB (Company No. 08967521).
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