New Delhi (India), November 27: Global Dental Providers, parent of Clove Dental, India’s largest tech-enabled-dental-platform, is delighted to announce a strategic fairness investment of USD 50 MM from Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.
Mixed with USD 66 MM raised in December 2022, in a spherical led by Investcorp, this investment underscores the group’s historic efficiency and confidence within the important development potential. The whole investment of USD 116 MM (INR 963 Crore) shall be used to quickly develop the Clove Dental scientific community, increase world-class smile-enhancing options, and develop a therapeutic oral care product vary.
Based in 2011, by Amarinder Singh, the group, as on date, operates 422 company-owned & managed dental clinics beneath the “Clove Dental” banner, unfold throughout 24 cities in 12 states.
This investment in Clove Dental comes as QIA seems to be to additional diversify its portfolio in India’s fast-growing economic system and comes on the again of latest investments in India inside the expertise, media and telecoms sector, retail sector, and in inexperienced vitality investments.
Sheikh Faisal Thani Al-Thani, Chief Investment Officer, Africa & APAC at QIA, added, “QIA is dedicated to supporting progressive firms with high-growth potential and sees nice potential in India’s fast-growing healthcare and retail markets. We’ve got been impressed by Clove’s fast enlargement throughout India, dedication to high quality, and progressive strategy to dental care and stay up for welcoming them to our numerous international healthcare portfolio.”
Louis Shakinovsky, Chairman of Global Dental, said, “From inception, we now have been, and are, very selective in whom we convey on as companions and shareholders. QIA is an excellent instance of a shareholder who’s aligned with the long-term imaginative and prescient of the group. At Global Dental, we now have made important investments in individuals, expertise, gear, and infrastructure.”
Amarinder Singh, Founder & CEO of Global Dental, mentioned, “This investment from QIA will allow our group to pursue its bold development plans in each current and new tier I & II cities throughout India, making certain that extra Indians have entry to dependable, high-quality, & reasonably priced dental care”.
Clove clinics are outfitted with state-of-the-art dental gear and managed by a staff of over 1,010 extremely certified dentists. 78% of Clove Dentists are ladies and 61% of Dentists maintain superior Grasp’s (MDS) levels in Dentistry. Clove has intensive commonplace working procedures (SOPs), standardized pricing, non-commission-based compensation techniques, in-clinic audits, peer-to-peer case (remedy) critiques and AI-based chair sterilization techniques that collectively, have set new benchmarks in dentistry in India and globally.
About Qatar Investment Authority:
Qatar Investment Authority (“QIA”) is the sovereign wealth fund of the State of Qatar. QIA was based in 2005 to speculate and handle the state reserve funds. QIA is among the many largest and most energetic sovereign wealth funds globally. QIA invests throughout a variety of asset lessons and areas, in addition to in partnership with main establishments all over the world to construct a worldwide and diversified investment portfolio with a long-term perspective that may ship sustainable returns and contribute to the prosperity of the State of Qatar.
Media Contact: media@qia.qa
About Global Dental Providers:
Global Dental Providers (GDS) is a tech-enabled complete end-to-end dental platform offering services for oral well being, dental magnificence and on a regular basis at-home care. GDS operates “Clove Dental”, the biggest community of company-owned & managed dental clinics in India. GDS just lately additionally launched a brand new dental magnificence model – “Whistle”, that provides personalized smile-enhancing options, together with invisible aligners. As well as, GDS operates a 3rd D2C enterprise providing therapeutic toothpaste and associated on a regular basis care merchandise beneath the Clove banner. Lastly, GDS additionally has a number of B2B companies, together with Yarrow Dental Laboratory – a customized dental prosthesis laboratory and xMedco – a dental gear and consumables distribution firm.
About Clove Dental:
Clove Dental is the biggest community of dental clinics in India. Since its inception in 2011, the model has been constant t in its imaginative and prescient and ardently strives to supply international requirements of dentistry in each neighborhood throughout the subcontinent. Clove manages greater than 45,000 sufferers each month, has over 15 Lakh glad sufferers, and has accomplished over 30 Lakh therapies over the past twelve years. Clove Dental is supplied with state-of-the-art gear and expertise and has greater than 1,000 dentists on its payroll in its 422+ company-owned and managed clinics throughout India. Clove requirements have grow to be the trade benchmarks within the highest requirements for hygiene & security, clinic high quality, transparency, ethics, and customer support.
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