Dr Stephen Pitt explains how DeNovo Dental Partners’ distinctive model helped his practice unlock unprecedented growth.
Dr Stephen Pitt has grown The Dental Studio from scratch over the last 20 years, and was considering selling as a way to drive further development. He commented: ‘I had been looking to sell intermittently for about six years. I felt I had taken the practice as far as I could on my own – I was hitting a ceiling and needed more knowledge and expertise to unlock the next stage of growth. I believed that selling was my only option.
‘Despite starting the process a few times, I never found the right buyer or contract for me, my team, and my business. I was concerned about losing the identity of the practice and the culture we had created – it was about more than just keeping the name. In addition, I had reservations about transitioning to an associate role, effectively losing control of the business from an operational perspective and no longer having any influence on how staff and patients were treated.
‘I set up The Dental Studio as a squat back in 2005 and grew it from nothing. It was important to me to protect everything we had achieved, so I needed to be sure that I was leaving it in the right hands.’
Individuality, autonomy, leadership
Stephen recently joined DeNovo Dental Partners, which offers an alternative to traditional practice sales that protects each business’ individuality, autonomy, and leadership. Stephen shares what stood out most to him: ‘With DeNovo, it wasn’t about handing the practice off to a new owner, but rather, introducing an extra pair of hands to help steer the practice on the next stage of its journey.
‘Getting to know the DeNovo team was integral to the decision-making process for me; I came to really understand who DeNovo is and who the people are. This, combined with the opportunity to keep the identity of the practice intact and continue managing it without external pressures, tipped the scales.
‘The latter concept I was initially hesitant about – to be honest, it sounded too good to be true. However, I was able to speak with existing partners to find out more about their experiences, and they confirmed that everything was true; you can still be who you are as a practice, but there’s support available if you want it.
‘I also appreciated that DeNovo sought practices with unique quirks and individuality. They embraced the things that we did a little differently. For example, I love teaching, and while other potential buyers were sceptical about the income this would continue to generate – despite its 10 years of success – DeNovo had a far more positive approach. They were honest, friendly, and transparent at every turn. From the moment I made the decision, the transaction moved rapidly and completed in just two to three months.’
Promises to reality
DeNovo offers a distinctive shared ownership model that enables partner principals to retain full clinical and practice autonomy, supported by dedicated central expertise across HR, marketing, procurement, and more. Practice owners receive the full value of their business upfront, through a combination of cash and equity in the parent company, alongside multiple opportunities to benefit from long-term value creation as both the practice and the wider organisation grow.
Stephen continues: ‘The promises definitely translated into a post-sale reality – the current environment is one of collaboration, with support I can use as much as I want. The practice has already benefitted, with team expansion in progress and conversations about introducing new sleep dentistry services. I have also found support in areas like marketing especially useful.
‘The whole team remains easy to work with and really approachable. All of this has been achieved, despite nothing changing for practice staff – promises of autonomy have definitely been fulfilled in this regard. I have actually been pleasantly surprised with how quickly they respond to questions and how proactive they have been in delivering the support I have requested. They are very forward-thinking.
‘DeNovo provides more opportunities from a financial perspective too. I have the chance to earn more based on practice growth post-sale, and – as a shareholder in the wider company – I also benefit from the increased value in shares. This is a great model and it really incentivises investment back into the practice for continued growth and development.
‘DeNovo is not for principals who want to sell their practice and walk away from dentistry completely. It is perfect for anyone who wants to continue working clinically for several years, but seeks expertise and support to unlock further practice growth. If you love the practice that you have built and wish to remain a part of its journey for a bit longer, DeNovo could be the answer you’re looking for.’
For more information, visit www.denovo.partners.
This article is sponsored by DeNovo Dental Partners.
