The expansion drive, supported by Lloyds Bank Commercial Banking, is expected to create more jobs and boost the group’s turnover by 25 per cent.
The firm’s new clinic on Thornhill Road in Huddersfield, will serve as a specialist provider of restorative and cosmetic treatments as well as dental implants. It’s being built to satisfy growing demand for advanced private dental care in the area. It will feature six surgery rooms and will accept referrals from its group of practices.
Meanwhile, the company has acquired NHS dental group Yorkshire Smiles, which has two practices on York Road in Leeds, and Victoria Road, Barnsley. It’s planning to hire 10 new employees across both sites. The Barnsley site will be its first clinic in South Yorkshire.
Lloyds Bank Commercial Banking supported the expansion with a multi-million-pound loan.
Dr Altaf Hussain, director at ASR Dental, said: “Our latest growth drive, including our first new-build surgery, is a huge milestone for the group. We’ve steadily acquired practices around Yorkshire since we began in 2004, and have ambitions to, ultimately, run practices across the North of England.
“But, it’s important to us that each of our practices are run independently to help us give a personal service and to build lasting relationships with our clients.
“Lloyds Bank has been an excellent partner for this expansion, with its specialist healthcare team demonstrating a thorough understanding of our needs and ambitions for the group.”
Malcolm Swan, senior healthcare banking consultant at Lloyds Bank Commercial Banking, said: “ASR Dental’s expansion is a brilliant example of how confidence is growing in the dentistry sector.
“Our latest Healthcare Confidence Index found that four in five dentists are planning for growth, with dentists remaining significantly more confident than the rest of the healthcare sector.
“We’re committed to helping Britain prosper by supporting companies like ASR Dental to grow their provision of quality healthcare services. Since 2011, we’ve grown our net lending to SMEs by 31 per cent whilst the market has contracted by 11 per cent.”