Global Dental Services Investment Announcement
SeaLink Capital Partners (“SCP”) has participated in a US$66 mm growth investment round to partner with Global Dental Services (“GDS”). GDS is the parent company of India’s largest tech-enabled dental health and beauty platform. This is SCP’s fourth investment in the healthcare space in India.
GDS was founded in 2011 by serial entrepreneur Amarinder (Amar) Singh, a Harvard MBA and Waterloo Engineer. GDS is the Mauritius-based parent of “Clove Dental”, India’s largest dental network of branded dental clinics, owner of smile-enhancing clear aligner brand “LoveMySmile” and distributor of ‘Clove’ branded line of therapeutic toothpaste & mouthwash.
Clove Dental (“Clove”) is the largest dental chain in a highly fragmented Indian market with a network of 340 company-owned & operated clinics in 24 cities across 12 states and Union Territories. Clove is supported by over 840 dentists with nearly two-thirds of them holding postgraduate qualifications (MDS) in advanced dental specialties. Clove is organized in clusters of clinics with each cluster supported by a dedicated team of Implantologists, Orthodontists, Prosthodontists, Endodontists, Periodontists, Oral Surgeons, Pedodontists, and General Dentists to ensure the best treatment for every patient.
Technology such as Computer Vision and AI-based software are leveraged at Clove to ensure 100% hygiene and sterilization levels and complete adherence to SOPs while a proprietary cloud-based Practice Management Software captures the entire dental journey for each patient to ensure effective long-term care and health. Periodic quality audits by independent teams of dentists ensure that there is never any compromise on treatment and infrastructure quality.
Clove Dental also operates mobile dental clinics to provide dental care to under-served communities. Clove “Heritage” (charitable) clinics, including the one inside Delhi’s Red Cross Hospital, offers highly subsidized treatments to communities who need such care the most.
Recently, GDS Group launched a Direct to Consumer (D2C) brand called LoveMySmile (“LMS”), which is focused on smile correction products and solutions which include Aligners, Braces, and Teeth whitening solutions. LMS offers a Dentist-led unique solution for smile correction through a combination of D2C and in-clinic procedures that provides both convenience and high-quality outcomes to its customers. In addition, the GDS group distributed Clove branded therapeutic oral care products like toothpaste and mouthwash, which provide smart and targeted daily care at home.
Louis Shakinovsky, GDS Chairman since inception, said, “We are deeply committed to our vision of providing high-quality, affordable, and accessible dental care and are happy to partner with long-term investors who are aligned with that vision and have a strong understanding of healthcare in India and globally. We are delighted to welcome new shareholder partners, SeaLink Capital Partners (SCP) who not only bring significant healthcare experience and unique networks in India but also a partnership approach towards growth and value-creation.”
Amar Singh, Founder, and CEO said “Dental industry in India is at an exciting inflection point. There is increased awareness of good oral health care and a growing desire for the perfect smile. As part of our mission to provide high-quality affordable dental care to everyone, our highly qualified and experienced team of dentists offer the most comprehensive range of services, ranging from restorative care to complex oral and maxillofacial surgery to the latest orthodontic treatments. With this investment, we will grow our clinical network, expand our laboratory, and continue to invest in innovative consumer products while leveraging technology to support our dentists. We are excited to welcome SeaLink with their excellent healthcare record and Indian networks as our shareholder partners in this next phase of our growth.”
Karthik Narayanaswamy, Co-Founder and Partner, SCP, said, “We are excited to make our fourth healthcare investment in India. Amar and his team have built a strong customer-centric brand that not only dominates the highly fragmented US$3 billion Indian dental services market but is also extremely well positioned in the industry which is projected to double in the next five years. With its strong leadership alongside an impressive and highly scalable set of processes and systems, we believe in the social and economic impact that GDS can create in India.”
Heramb Hajarnavis, Founder and Managing Partner, SCP, added “We have been very impressed by Amar and the board’s commitment to providing high-quality healthcare to Indian consumers and their relentless focus on incorporating the latest technological advances in dental care into their clinics. We look forward to working closely with them as they continue to deliver on that promise.”
About Global Dental Service Limited (GDS): GDS is the parent of an Indian entity that runs Asia’s largest chain of dental clinics under the brand name Clove Dental (“Clove”) and is among the top 15 global Dental Services Organizations (DSOs). Clove has a network of 340 company-owned & operated clinics in 24 cities across 12 states and Union Territories in India and offers all major dental specialties in each of its clinics. It has built a strong customer-centric brand with stringent processes backed by a proprietary technology platform that spans its entire value chain. GDS has recently forayed into aligners and smile correction through its brand LoveMySmile which are designed and offered by Orthodontists and is uniquely positioned, given its partnership with Clove Dental, to provide dentist-led hybrid solutions – direct-to-consumer (“D2C”) at home customer engagement and in-clinic Orthodontist led smile corrections.
About SeaLink Capital Partners: SCP founded in 2015 is focused on forging partnerships with exceptional companies with strong growth potential, competitive differentiation, and entrepreneurs who have the highest standards of integrity. SCP combines its active ownership model with a strong partnership-based approach to go beyond financial investment and drive long-term value creation for all stakeholders. SCP’s past and present partnerships include, NephroPlus, Surya Hospitals, JM Financial, THB, and Ki Mobility. For additional information, please visit SCP’s website at www.sealinkcap.com.