Dental Residency launches a 2 million euro crowdfunding to boost its international expansion – #BHHMembersInitatives
BHH member Dental Residency, the leading company in home dental care for dependants and people with mobility problems in Spain, has announced the launch of a new 2 million euro round of investment.
The round, which has the support of the reference current investors, has been launched through a crowdfunding initiative with BHH member Capital Cell, an investment platform specialized in the health and biotechnology sectors. At the same time, the company has public and bank financing commitments.
Currently, the company provides services to nearly 1,000 nursing homes and day-care centres in Spain, offering coverage to more than 260,000 residents, and it already has its first operating centre in the Italian city of Milan, which has been the first step in its plan for international expansion.
The purpose of the new round is to obtain funds to increase market share in Spain, boost growth in Italy, and enter the new markets of the United Kingdom and Germany before the end of 2023. These three new international markets group more than 1.9 million residential places.
The raising of new funds pursues three main goals: support the opening of 13 new operating centres, develop in-house technology to continue innovating in process optimization and customer experience, and hire new talent to lead the company’s growth.
Dental Residency has experienced significant growth in recent years, with an x4 sales increase in the last two years and achieving a 165% sales growth in the 1Q 2023 compared to 2022.
With the entry into these new markets, the company aims to multiply current business figures by x10 in just two years. With a 5-year horizon, the objective is to have a network of 25 operating centres in 4 countries, serve more than 300,000 patients each year, and achieve a turnover of more than 40 million euros with an EBITDA of 6.6 million.
Find out more about this HERE.