Dent-a-Medical to partner with insurance firm

2010-03-09

Dent-a-Medical, the listed Polish dental care provider, is in talks with “a leading insurance firm” about a joint insurance product that would pay for treatment at its expanding clinic network, CEO Mariusz Andrych revealed in an interview with Parkiet. He also signalled that the company has entered into talks with a large dental chain with a similar profile active on several European markets, about joining forces in Poland.
Andrych declined to name the potential insurance partner, but noted that the product could be launched about four to five months after signing an agreement. By that time, Dent-a-Medical aims to establish a presence in most big cities. The company, which owns two clinics, in Wroclaw and Warsaw, has so far signed letters of intent with eleven dental providers, mainly in Southern Poland, about joining its franchise network. According to Andrych, Dent-a-Medical is firmly on track to fulfil its target of at least 20 clinics by mid-2010: as the number of affiliate partners grows, its bargaining position strengthens and the network is set to expand at an accelerating pace. By the end of this year the network is to consist of 40 outlets, with the ultimate goal of about 200 clinics. According to Andrych, the company is not signing binding agreements yet because their terms will also reflect cooperation with the insurance firm and other partners.
The company’s top priority is to achieve nationwide coverage as quickly as possible, so that the company may attract big corporate customers. The affiliated clinics are to benefit from lower costs of equipment and instruments, as well integrated customer acquisition and marketing, and back-office support.
In 2009 Dent-a-Medical generated revenues of PLN 4m (€1m) and made a net loss of PLN 3.6m (€0.9m).