Global Dental Services nabs a US$50M investment from Qatar Investment Authority

QATAR – Global Dental Services (GDS) Group has snagged a US$50 million equity investment from the Qatar Investment Authority (QIA) as the group looks to expand across India.

In a news release, Louis Shakinovsky, Chairman of Global Dental Services, stated: “At Global Dental Services, we have made significant investments in people, technology, equipment, and infrastructure.”

Global Dental Services is the parent company of Clove Dental, one of the leading tech-enabled dental platforms in India.

The group owns and operates 340 clinics across 24 cities in 12 states in India under the brand Clove Dental. Clove clinics are equipped with state-of-the-art dental equipment and managed by a team of over 1,010 highly qualified dentists.

“Since inception, we have been selective in whom we bring on as partners and shareholders. QIA is an outstanding example of a shareholder who is aligned with the long-term vision of the group,” said Louis Shakinovsky.

The strategic equity investment of US$50 million from the Qatar Investment Authority comes shortly after the firm raised US$66 million in a funding round led by Investcorp.

The cumulative investment of US$116 million will be used to scale up Clove Dental’s network of clinics, expand its offerings, and develop a therapeutic oral care product range.

The clinics have dedicated staff comprised of implantologists, orthodontists, prosthodontists, endodontists, periodontists, oral surgeons, pedodontists, and general dentists to ensure that each patient is always treated by the most qualified dentist.

With the equity investment from QIA, Global Dental Services Group is looking to unlock significant growth opportunities for the group to grow its geographic reach across the country.

Commenting on the strategic equity investment, Amarinder Singh, Founder and Chief Executive Officer of Global Dental, said: “This investment from QIA will enable our group to pursue its ambitious growth plans in both existing and new Tier I & II cities across India.”

This investment follows the launch of a direct-to-consumer (D2C) brand called LoveMySmile (LMS), focused on smile correction products and solutions.

The group highlighted that 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.

On the innovation front, Global Dental Services explained that computer vision and AI-based software technologies ensure that every clinic is 100% hygienic and sterilized and that all standard operating procedures are adhered to at all times.

The group further mentioned that periodic quality audits by an independent team of dentists ensure that there is never a compromise on treatment and infrastructure quality.

As such, the equity injection from QIA will be invested heavily in an expansion strategy aimed at ensuring that more Indians have access to reliable, high-quality, and affordable dental care.

Additionally, this significant financial boost comes on the back of QIA’s recent investments in India within the retail and real estate sectors and in green energy investments.

The capital injection in the group’s Clove Dental marks a major milestone in the Qatar Investment Authority’s diversification strategies for its investment portfolio.

In his address, Sheikh Faisal Thani Al-Thani, Chief Investment Officer, Africa & APAC at QIA, said: “We have been impressed by Clove’s rapid expansion across India, commitment to quality, and innovative approach to dental care, and we look forward to welcoming them to our diverse global healthcare portfolio.”

The Qatar Investment Authority plans to further diversify its portfolio in India’s fast-growing economy, strengthening its foothold in a market with significant long-term growth potential.

Notably, the Qatari wealth fund has built a diversified portfolio of investments in innovative healthcare companies over the years.

Bear in mind that QIA invests in innovative healthcare companies that have the potential to solve societal problems and address unmet medical needs worldwide.

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