Why the Portman:Dentex shared ownership model could reshape UK dentistry

A new model for clinicians who want ownership without the overload

In the ever-churning whirlpool of the UK dental market, where independents, corporates, and hybrids jostle for visibility, Portman:Dentex have thrown a strategic stone into the water – and the ripples are going to be felt for years.

Their newly launched Shared Ownership Programme represents a hybrid model of partnership, pitched squarely at the sweet spot of some of today’s (probably) younger clinicians: those who crave the perceived status of ownership, but without some of the less attractive burdens that they may have heard about from their colleagues.

Think “co-pilot with a capable crew”, rather than flying solo or handing all of the controls to a potentially faceless "head office".

I don't think this is just a gimmick. It seems to be a fascinating blend of USA-style DSO and UK-Irish acquisition. You may recall Denplan having a go at something similar quite a few years ago - I don't recall it getting much off the runway - possibly an idea before it's time? Maybe now is the time.

The model offers practitioners the chance to own a meaningful stake in their practice while accessing the scale, compliance, and operational support of a 370+ strong group.

You focus on clinical outcomes and growth; Portman:Dentex handle the rest – marketing, HR, tech, recruitment, compliance, procurement, and governance.

On paper, this looks like a very attractive offer.

It's not the Owners who are going to be tested here - its the ability of Portman:Dentex to deliver on their promise of quantity and quality of support.

The Programme marketing (so far) is highly clinician-centric in tone, designed to address the biggest frustrations of owner-operators: regulation overload, recruitment pain, marketing malaise, and burnout from the admin monster under the desk.

I see a role here for some very talented local and area managers.

It echoes a key Extreme Business principle:

"play to your strengths, then delegate/automate/eliminate your weaknesses." 

In this case, clinicians are being encouraged to play to their clinical and leadership strengths, while Portman:Dentex bring the commercial engine room.

And for those who aren’t quite ready to retire but also aren’t looking for another 15 years on the treadmill, it offers a flexible runway to step back without selling out.

Implications for the Market?

1. Goodwill Values:

This model may create a tiered market in goodwill valuation. Practices with younger, ambitious clinical leaders aligned with shared ownership structures may attract a premium over purely corporate buyouts, where continuity of leadership and future growth are less certain. Conversely, smaller independent practices with ageing principals and no succession plan may see downward pressure on goodwill.

2. Acquisitions Market:

Expect other groups to follow suit. If Portman:Dentex prove this model is both scalable and profitable, others will pivot from “buy and control” to “buy and collaborate.” Expect fewer full buyouts, more JV-style agreements, and more ‘earn-in’ models appealing to younger clinicians.

3. Other Groups:

This move challenges the cold, top-down models of larger groups. Those still operating centralised, target-led, KPI-bloated systems without clinician buy-in risk looking archaic. We may see defensive moves – hasty partnership schemes, bonus equity options – but few will match the scale and narrative coherence of what Portman:Dentex have launched.

Advice to Independent Practice Owners

You must now ask yourself: "What’s my long-term plan in a world where hybrid ownership becomes the norm?"

If you’re:

• Within 5 years of retirement: Now is the time to act. This model may dilute future buyer appetite for full buyouts. The market could be flooded with independents seeking exits, with fewer solo buyers.

• Mid-career, high growth: Consider approaching Portman:Dentex or exploring similar JV models. If you're already building, why not do it with a strategic partner that adds ballast to your ship?

• Just starting out: Don’t romanticise sole ownership. This model gives you access to ownership without the overwhelm. Ideal for entrepreneurial associates looking to level up without the mortgage, CQC/HR ulcers and sleepless nights.

Final Thought

I've always championed one idea: “More profit, in less time, with happier people.” 

The Portman:Dentex Shared Ownership model – while still in its early evolution – might just be the most aligned version of that philosophy we’ve seen from a corporate in a long time.

It’s won't be perfect (nothing is), but it is progressive. And that, in the increasingly bland UK group dental landscape, is worth noting and applauding.

Now, we await the response from the community. Will they be motivated to ask - and act?

We shall see.....