IDH aims for bite of £25m

INSTITUTIONAL investors are to get their teeth into Integrated Dental Holdings, which plans a float early next year through a placing set to raise up to £25m.

IDH, Britain's largest owner of dental practices, has 99 unbranded practices in England and Scotland with the Whitecross branded practice providing a further 29 clinics. Market capitalisation following the placing is expected to be about £60m.

Chief executive David Hudaly plans to use the cash to drill into the fragmented dental market, where there are an estimated 9,300 practices with IDH controlling just 1.35% of the market.

Although half of Britons do not cower in the dentist's chair for the recommended once-a-year visit, the market is still estimated to be worth £2.8bn with an annual growth rate of up to 14%.