Exmouth dental practice complete expansion following funding from Lloyds Bank
Select Dental, has secured a £887,000 funding package from Lloyds Bank to facilitate its largest expansion to date.
Select Dental received the six-figure loan enabling them to expand further into an area with growing demand for dental provisions within the local community.
The Exmouth based dental practice is set to grow its surrounding dental services from three to seven surgeries in order to provide a more integrated end to end service for more patients after seeing a surge in demand for dental care in the local area. It’s recent purchase of a historic building in the town centre was facilitated by Lloyds Bank.
The business recently expanded their team creating jobs for two new clinicians to assist servicing the hike in demand within the local area. With labour shortages challenging firms throughout the South West, 29% of firms in the wider region listed team investment as one of their top target areas for growth in the next six months, reported by Lloyds Bank’s latest Business Barometer. Select Dental’s expansion has also put the business on course to increase their annual turnover by 100%.
Select Dental’s growth in Exmouth will also take pressure off the surrounding NHS dental provisions which were receiving an excess of patients from outside their area due to soaring demand for quality dental services in the region.
Founded in 2000 by husband and wife duo Karen and Rob Gosling, the practice employs 20 people including six dental nurses and eight clinicians providing a wide range of dental treatments including cosmetics and dentures.
Karen Gosling, director and practice manager at Select Dental, said “Our aim is to provide a high quality dental service throughout Exmouth while maintaining our roots as a family run business. We’ve recently seen a huge spike in demand for appointments that we simply have not been able to accommodate.
“Lloyds Bank helped us act quickly in order to secure our desired space while also remaining by our side throughout the whole process. The team’s knowledge and expertise in our sector has been invaluable.”
Mike Craigie, relationship manager at Lloyds Bank, said: “The last two years have put a strain across regional medical provisions up and down the country. Select Dentals expansion will promote a new era of crucial support for communities across the South West, whilst taking pressure off NHS services.
“It’s been brilliant to support Karen and Rob with their expansion into the local area. The husband-and-wife duo are perfectly positioned to advance the practice’s well-established reputation in the Exmouth area and we wish them both every success in the future.”
