Record revenues driven by strong organic
growth, sustaining double-digit growth trajectory
Second Quarter 2023 Highlights
- Revenue of $368.3 million, an increase of 12.6% over the same
period in 2022 with Same Practice Revenue Growth(1) of 5.5%
- Adjusted EBITDA(1) of $67.0 million, an increase of 10.9%
compared to the same period in 2022; Adjusted EBITDA Margin(1) of
18.2%
- LTM Same Practice EBITDA Growth of 5.1% with Adjusted EBITDA
Growth From Acquisitions Completed in Prior Period(1) of 19.3%
- Adjusted net income(1) of $35.5 million
- Adjusted free cash flow(1) of $33.6 million, with net leverage
levels reducing to 4.38x
- Acquired six practices in the quarter representing $5.6 million
in PF Adjusted EBITDA(1) at 6.8x, representing multiples 30% lower
than the same period in 2022
Outlook
- Third quarter 2023 revenues and Same Practice Revenue Growth
are estimated to increase by 9.5% to 10.5% and 5% to 6%,
respectively, over the third quarter of 2022
- Adjusted EBITDA Margins(1) are expected to be consistent with
the first half of 2023
- For the balance of 2023, expect to complete acquisitions
representing PF Adjusted EBITDA after rent(1) of approximately $10
million
(1) Non-IFRS financial measure, non-IFRS ratio or supplementary
financial measure. See “Non-IFRS and Other Measures” section of
this news release for definitions and quantitative
reconciliations.
dentalcorp Holdings Ltd. (“dentalcorp” or the “Company”) (TSX:
DNTL), Canada’s largest, and one of North America’s fastest growing
networks of dental practices, announced today its three and six
month financial and operating results for the period ended June 30,
2023. All references to dollar values in this press release are in
Canadian dollars, unless otherwise indicated.
“Our second quarter results included the highest quarterly
revenue on record, and were driven by 5.5% Same Practice Revenue
Growth, as well as the successful execution of our repeatable
acquisition program,” said Graham Rosenberg, founder and Chief
Executive Officer. “We also reduced leverage for the second
consecutive quarter, demonstrating our continued disciplined
approach to growth. These results are a testament to the hard work
and commitment to patient care of our nearly 10,000 team members
across Canada.”
“Our year to date results provide a solid backdrop for sustained
double digit growth in the third quarter of 2023 over the same
period last year driven by Same Practice Revenue Growth and the
strong performance of our 2022 acquisition cohort,” added Mr.
Rosenberg. “Adjusted EBITDA Margin is expected to remain steady
with the first half of this year, with solid practice-level
performance offsetting labour inflation. Finally, with lower
acquisition multiples, we expect to continue reducing leverage,
consistent with our balanced approach to growth.”
Financial and Operating Results for the Three and Six Months
Ended June 30, 2023
- Revenue for the second quarter 2023 of $368.3 million, an
increase of $41.3 million or 12.6% over the second quarter 2022.
This increase was driven by incremental revenue from acquired
practices, and Same Practice Revenue Growth.
- Same Practice Revenue Growth of 5.5% compared to the second
quarter 2022, driven by overall demand for services, with LTM Same
Practice EBITDA up 5.1%.
- Adjusted EBITDA Growth For Acquisitions Completed in Prior
Period was 19.3% over comparable performance, driven by overall
demand for services, pricing increases, the Company’s insourcing
initiatives, and the excellence of the Company’s integration
program.
- Adjusted EBITDA increased to $67.0 million in the second
quarter 2023, an increase of 10.9% compared to the second quarter
of 2022. Adjusted EBITDA Margin of 18.2% in the second quarter 2023
was lower compared to 18.5% during the corresponding period in 2022
due to inflationary labour pressures.
- Adjusted net income for the quarter was $35.5 million, an
increase of 46.7% compared to $24.2 million in the second quarter
of 2022.
- Adjusted free cash flow for the quarter was $33.6 million,
compared to $35.7 million in the second quarter 2022.
- The Company acquired six dental practices during the second
quarter 2023, representing $5.6 million in PF Adjusted EBITDA, for
total consideration of $34 million. As at June 30, 2023, the
Company owned 537 dental practices in Canada, compared to 526
practices at June 30, 2022. The number of practices owned as at
June 30, 2023, included the divesture of three standalone
orthodontics and specialty practices as part of dentalcorp’s
program to rationalize certain non-core standalone specialty
practices. The Company anticipates that the sale of these assets
will have a positive impact on overall Adjusted EBITDA Margin,
allowing it to re-allocate resources to higher growth areas of its
business.
- The Company ended the second quarter 2023 without drawing on
additional debt facilities in the quarter and with liquidity of
approximately $778 million, comprised of approximately $104 million
in cash, and $674 million in undrawn debt capacity under the senior
debt facilities. Approximately $1.1 billion of the Company’s
senior debt facilities were drawn at quarter end. Approximately 75%
of the Company’s bank debt exposure, or $800 million, is carrying a
fixed CDOR rate plus margin for an all-in cost of approximately
6.4%.
Consolidated Financial Results
Three months ended June 30, Six months ended June 30,
2023
2022
2023
2022
(expressed in millions of dollars) (expressed in millions
of dollars) Revenue
368.3
327.0
726.6
607.2
Cost of revenue
193.1
168.2
372.4
309.3
Gross profit
175.2
158.8
354.2
297.9
Selling, general and administrative expenses
121.4
100.4
238.6
194.8
Depreciation and amortization
50.5
48.0
102.2
89.5
Share-based compensation
2.1
0.9
6.3
6.4
Foreign exchange loss (gain)
0.6
(0.5
)
0.6
(0.5
)
Net finance costs
23.0
13.5
46.3
24.7
Change in fair value of derivative instruments
(21.1
)
—
(18.0
)
—
Change in fair value of contingent consideration
1.3
(0.8
)
0.4
10.2
Change in fair value of preferred shares
4.1
—
4.1
—
Loss on disposal of businesses
1.2
—
20.5
—
Share of associate losses
0.1
0.1
0.1
0.1
Loss before income taxes
(8.0
)
(2.8
)
(46.9
)
(27.3
)
Income tax recovery
(0.7
)
(5.2
)
(6.2
)
(18.7
)
Net (loss) income and comprehensive (loss) income
(7.3
)
2.4
(40.7
)
(8.6
)
Other Metrics
Adjusted EBITDA(a)
67.0
60.4
133.1
110.6
Adjusted net income(a)
35.5
24.2
51.8
52.8
(a)
Non-IFRS financial measure,
non-IFRS ratio or supplementary financial measure. See “Non-IFRS
and Other Measures” section of this news release for definitions
and quantitative reconciliations.
Conference Call Notification
The Company will hold a conference call to provide a business
update on Friday, August 4, 2023, at 8:30 a.m. ET. A
question-and-answer session will follow the business update.
LIVE CONFERENCE CALL DETAILS
DATE:
Friday, August 4, 2023
TIME:
8:30 a.m. ET
WEBCAST:
https://events.q4inc.com/attendee/491847864
DIAL-IN NUMBER:
1 (888) 660-6396 or 1 (929) 203-0889
REFERENCE NUMBER:
9097710
REPLAY
Available for two weeks after the call
DIAL-IN NUMBER:
1 (800) 770-2030 or 1 (647) 362-9199
REFERENCE NUMBER:
9097710
Non-IFRS and Other Measures
As appropriate, we supplement our results of operations
determined in accordance with IFRS with certain non-IFRS and other
financial measures that we believe are useful to investors,
lenders, and others in assessing our performance and which
highlight trends in our core business that may not otherwise be
apparent when relying solely on IFRS measures. Our management also
uses non-IFRS and other financial measures for purposes of
comparison to prior periods, to prepare annual operating budgets,
for the development of future projections and earnings growth
prospects, to measure the profitability of ongoing operations and
in analyzing our financial condition, business performance and
trends, including the run-rate of the business after taking into
consideration the acquisitions of dental practices. As such, these
measures are provided as additional information to complement those
IFRS measures by providing further understanding of our results of
operations from management’s perspective, including how we evaluate
our financial performance and how we manage our capital structure.
We also believe that securities analysts, investors, and other
interested parties frequently use these non-IFRS and other
financial measures and industry metrics in the evaluation of
issuers. These non-IFRS and other financial measures are not
recognized measures under IFRS and do not have a standardized
meaning prescribed by IFRS and may include or exclude certain items
as compared to similar IFRS measures, and such measures may not be
comparable to similarly titled measures reported by other
companies. Accordingly, these measures should not be considered in
isolation nor as a substitute for analysis of our financial
information reported under IFRS. For further information on
non-IFRS and other financial measures, including, the most directly
comparable IFRS measures, composition of the measures, a
description of how we use these measures and an explanation of how
these measures provide useful information to investors, and
applicable reconciliations refer to the "Non-IFRS and Other
Measures", "Non-IFRS Financial Measures", "Non-IFRS Ratios" and
"Supplementary Financial Measures" sections of management’s
discussion and analysis of operations for the three and six months
ended June 30, 2023 (the “MD&A”), available on the
Company's profile on SEDAR+ at www.sedarplus.ca, which is
incorporated by reference herein.
Adjusted EBITDA Growth From Acquisitions Completed in Prior
Period
“Adjusted EBITDA Growth from Acquisitions Completed in Prior
Period” in respect of a period is the percentage of Adjusted EBITDA
for the period attributable to practices that were acquired in the
corresponding period in the immediately prior year as compared to
actual Adjusted EBITDA attributable to such practices plus
management's estimate of Adjusted EBITDA attributable to such
practices for any portion of the period they were not owned by the
Company in such period in the corresponding period in the
immediately prior year.
EBITDA
“EBITDA” means, for the applicable period, net (loss) income and
comprehensive (loss) income plus (a) net finance costs, (b) income
tax recoveries, and (c) depreciation and amortization. We present
EBITDA to assist investors in understanding the mathematical
development of Adjusted EBITDA. Management does not use EBITDA as a
financial performance metric, but we present EBITDA to assist
investors in understanding the mathematical development of Adjusted
EBITDA and Same Practice EBITDA Growth. The most comparable IFRS
measure to EBITDA is Net (loss) income and comprehensive (loss)
income, for which a reconciliation is provided below.
Three months ended June 30, Six months
ended June 30,
2023
2022
2023
2022
$ $ $
$ (expressed in millions of dollars)
Net (loss) income and comprehensive (loss) income
(7.3
)
2.4
(40.7
)
(8.6
)
Adjustments:
Net finance costs
23.0
13.5
46.3
24.7
Income tax recovery
(0.7
)
(5.2
)
(6.2
)
(18.7
)
Depreciation and amortization
50.5
48.0
102.2
89.5
EBITDA
65.5
58.7
101.6
86.9
Adjusted EBITDA
“Adjusted EBITDA” is calculated by adding to EBITDA certain
expenses, costs, charges or benefits incurred in such period which
in management’s view are either not indicative of underlying
business performance or impact the ability to assess the operating
performance of our business, including: (a) net impact of
unrealized foreign exchange gains and losses on non-cash balances,
change in fair value of derivative instruments, and share of
associate losses; (b) share-based compensation; (c) external
acquisition expenses; (d) change in fair value of contingent
consideration; (e) Initial Public Offering (“IPO”) costs; (f)
strategic review costs; (g) other corporate costs; (h) loss on
disposal of businesses; (i) change in fair value of preferred
shares; and (j) other adjustments. Adjusted EBITDA is a
supplemental measure used by management and other users of our
financial statements to assess the financial performance of our
business without regard to the effects of interest, depreciation
and amortization costs, expenses that are not considered reflective
of underlying business performance, and other expenses that are
expected to be one-time or non-recurring. We use Adjusted EBITDA to
facilitate a comparison of our operating performance on a
consistent basis from period to period and to provide for a more
complete understanding of factors and trends affecting our
business. The most comparable IFRS measure to Adjusted EBITDA is
Net (loss) income and comprehensive (loss) income, for which a
reconciliation is provided in below.
Three months ended June 30, Six months ended June
30,
2023
2022
2023
2022
$ $ $ $ (expressed
in millions of dollars) EBITDA
65.5
58.7
101.6
86.9
Add: Net impact of unrealized foreign exchange gains or losses on
non-cash balances, change in fair value of derivatives, and share
of associate losses(a)
(21.0)
0.2
(17.9)
0.2
Share-based compensation
2.1
0.9
6.3
6.4
External acquisition expenses(b)
1.9
4.2
3.4
8.4
Change in fair value of contingent consideration(c)
1.3
(0.8)
0.4
10.2
Change in fair value of preferred shares(d)
4.1
—
4.1
—
Strategic review costs(e)
6.1
—
6.3
—
Other corporate costs(f)
5.8
2.3
8.4
3.6
Other adjustments(g)
—
(5.1)
—
(5.1)
Loss on disposal of businesses(h)
1.2
—
20.5
—
Adjusted EBITDA
67.0
60.4
133.1
110.6
a.
Represents the sum of (i)
unrealized foreign exchange gains or losses on non-cash balances
(ii) change in fair value of derivatives, and (iii) share of
associate losses.
b.
Represents professional fees and
other expenses paid to third parties related to practice
acquisitions. These costs are excluded as they are incurred in
connection with each practice acquisition and are not related to
underlying business operations of the Company.
c.
On acquisition, and at each
subsequent reporting date, obligations under earn-out arrangements
are measured at fair value with the changes in fair value
recognized in the condensed interim consolidated statements of
(loss) income and comprehensive (loss) income.
d.
Represents adjustments for the
change in fair value of preferred shares of $4.1 million for the
three and six months ended June 30, 2023.
e.
Represents costs related to the
strategic review process and other costs incurred by the Company to
evaluate strategic alternatives to unlock shareholder value.
f.
Represents costs related to the
implementation of new corporate technology systems, the undertaking
of vendor consolidations, and termination benefits and other costs
of restructuring. The inclusion of termination benefits and other
costs of restructuring was implemented during the three months
ended June 30, 2023, but has been applied retrospectively to the
six months ended June 30, 2023.
g.
Represents adjustments for the
impact of the gain on legal settlement of $14.5 million, offset by
relief provided by the Company to Partner Dentists and employees of
$9.4 million.
h.
Represents the loss on disposal
of businesses that were disposed of during the three and six months
ended June 30, 2023.
Adjusted EBITDA Margin
“Adjusted EBITDA Margin” means Adjusted EBITDA divided by
revenue. We use Adjusted EBITDA Margin to facilitate a comparison
of our operating performance on a consistent basis from period to
period and to provide for a more complete understanding of factors
and trends affecting our business.
Adjusted net income
“Adjusted net income” is calculated by adding to net (loss)
income and comprehensive (loss) income certain expenses, costs,
charges or benefits incurred in such period which in management’s
view are either not indicative of underlying business performance
or impact the ability to assess the operating performance of our
business, including: (a) amortization of intangible assets; (b)
share-based compensation; (c) change in fair value of contingent
consideration; (d) external acquisition expenses; (e) IPO costs;
(f) strategic review costs; (g) other corporate costs; (h) loss on
disposal of businesses; (i) change in fair value of preferred
shares; and (j) other adjustments; and (k) the tax impact of the
above. We use Adjusted net income to facilitate a comparison of our
operating performance on a consistent basis from period to period
and to provide for a more complete understanding of factors and
trends affecting our business. The most comparable IFRS measure to
Adjusted net income is Net (loss) income and comprehensive (loss)
income.
PF Revenue
“PF Revenue” in respect of a period means revenue for that
period plus the Company’s estimate of the additional revenue that
it would have recorded if it had acquired each of the practices
that it acquired during that period on the first day of that
period, calculated in accordance with the methodology described in
the reconciliation table below. Given the highly acquisitive nature
of our business, management believes PF Revenue is more reflective
of our operating performance. We use PF Revenue to determine
components of employee compensation. The most comparable IFRS
measure to PF Revenue is Revenue.
Year ended June 30,
2023
(expressed in millions)
Revenue
$1,369.6
Add:
Acquisition adjustment(a)
$45.3
PF Revenue
$1,414.9
a.
The Company regularly acquires
dental practices and estimates that if it had acquired each of the
practices that it acquired during the LTM period ended June 30,
2023, it would have recorded additional revenue of $45.3 million.
These estimates are based on the amount of revenue budgeted by the
Company to be earned by the relevant practices at the time of their
acquisition by dentalcorp. There can be no assurance that if the
Company had acquired these practices on the second day of the
applicable fiscal period, they would have actually generated such
budgeted revenue, nor is this estimate indicative of future
results.
PF Adjusted EBITDA
“PF Adjusted EBITDA” in respect of a period means Adjusted
EBITDA for that period plus the Company’s estimate of the
additional Adjusted EBITDA that it would have recorded if it had
acquired each of the practices that it acquired during that period
on the second day of that period, calculated in accordance with the
methodology described in the reconciliation table below. Both
creditors and the Company use PF Adjusted EBITDA to assess our
borrowing capacity and given the highly acquisitive nature of our
business is more reflective of our expected run-rate. We also use
PF Adjusted EBITDA to determine components of employee
compensation. The most comparable IFRS measure to PF Adjusted
EBITDA is Net income (loss) and comprehensive income (loss).
PF Adjusted EBITDA Margin
“PF Adjusted EBITDA Margin” means PF Adjusted EBITDA divided by
PF Revenue. Both creditors and the Company use PF Adjusted EBITDA
Margin to assess our borrowing capacity and given the highly
acquisitive nature of our business is more reflective of our
expected run-rate.
Year ended June 30,
2023
(expressed in millions)
Adjusted EBITDA
$253.3
Add:
Acquisition adjustment(b)
$12.3
PF Adjusted EBITDA
$265.6
PF Adjusted EBITDA Margin
18.8%
b. The Company regularly acquires dental practices
and estimates that if it had acquired each of the practices that it
acquired during the LTM period ended June 30, 2023, it would have
recorded additional Adjusted EBITDA of $12.3 million. These
estimates are based on the amount of Practice-Level EBITDA budgeted
by the Company to be earned by the relevant practices at the time
of their acquisition by dentalcorp. There can be no assurance that
if the Company had acquired these practices on the second day of
the applicable fiscal period, they would have actually generated
such budgeted Practice-Level EBITDA, nor is this estimate
indicative of future results.
PF Adjusted EBITDA after rent
“PF Adjusted EBITDA after rent” in respect of a period means PF
Adjusted EBITDA less interest and principal repayments on leases.
Both creditors and the Company use PF Adjusted EBITDA after rent to
assess our borrowing capacity which management believes, given the
highly acquisitive nature of our business, is more reflective of
our operating performance. The most comparable IFRS measure to PF
Adjusted EBITDA after rent is Net (loss) income and comprehensive
(loss) income, for which a reconciliation is provided below.
Adjusted free cash flow
“Adjusted free cash flow” is calculated by adding or subtracting
from cash flow from operating activities: (a) external acquisition
expenses; (b) IPO costs; (c) strategic review costs; (d) other
corporate costs; (e) other adjustments; (f) repayment of principal
on leases; (g) maintenance capex; and (h) changes in working
capital. We use Adjusted free cash flow to facilitate a comparison
of our operating performance on a consistent basis from period to
period, to provide for a more complete understanding of factors and
trends affecting our business, and to determine components of
employee compensation. The most comparable IFRS measure to Adjusted
free cash flow is cash flow from operating activities, for which a
reconciliation is provided below.
Same Practice EBITDA Growth
“Same Practice EBITDA Growth” in respect of a period means the
percentage change in EBITDA derived from Established Practices
(other than Legacy Specialty Practices) in that period as compared
to EBITDA from the same practices in the Corresponding period in
the immediately prior year.
Same Practice Revenue Growth
“Same Practice Revenue Growth” in respect of a period means the
percentage change in revenue derived from Established Practices
(other than Legacy Specialty Practices) in that period as compared
to revenue from the same practices in the corresponding period in
the immediately prior year. A practice will be deemed to be an
“Established Practice” in a period if it was operating as part of
dentalcorp for the entirety of the relevant period and for the
entirety of the corresponding period in the immediately prior year.
A “Legacy Specialty Practice” means a practice acquired prior to
mid-2014 using a legacy deal structure that is no longer utilized
today.
Forward-Looking Information
This news release includes forward-looking information and
forward-looking statements within the meaning of applicable
Canadian securities legislation, including the Securities Act
(Ontario) (collectively, “forward-looking statements”), which
reflect management’s expectations regarding the Company’s future
growth, future financial outlook, our ability to sustain momentum
in our business and advance our strategic growth drivers, results
from operations (including, without limitation, future expansion
and capital expenditures), performance (both operational and
financial) and business prospects, future business plans,
opportunities and our goals for the third quarter of 2023 for
Revenue, Same Practice Revenue Growth, PF Adjusted EBITDA after
rent, acquisition multiples realizable for practice acquisitions
and Adjusted EBITDA margins. Wherever possible, words such as
“plans”, “expects”, “scheduled”, “budgeted”, “projected”,
“estimated”, “timeline”, “forecasts”, “anticipates”, “suggests”,
“indicative”, “intend”, “guidance”, “outlook”, “potential”,
“prospects”, “seek”, “strategy”, “targets” or “believes”, or
variations of such words and phrases or statements that certain
future conditions, actions, events or results “will”, “may”,
“could”, “would”, “should”, “might” or “can”, or negative or
grammatical versions thereof, “be taken”, “occur”, “continue” or
“be achieved”, and other similar expressions, have been used to
identify forward looking statements. Such forward-looking
information includes, but is not limited to, the forward-looking
information related to the North American dental industry;
addressable markets for the Company’s services; expectations
regarding its revenue and its revenue generation potential; its
business plans and strategies; its competitive position in its
industry and its expectations regarding double-digit growth, and
the information and statements under “Outlook” relating to our
goals for the third quarter of 2023 for Revenue, Same Practice
Revenue Growth, PF Adjusted EBITDA after rent, acquisition
multiples realizable for practice acquisitions and Adjusted EBITDA
Margin.
The purpose of disclosing such forward-looking information is to
provide investors with more information concerning the financial
results that the Company currently believes are achievable based on
the assumptions below. Readers are cautioned that the information
may not be appropriate for other purposes. While these targets are
based on underlying assumptions that management believes are
reasonable in the circumstances, readers are cautioned that actual
results may vary materially from those described above.
Forward-looking statements are necessarily based upon
management’s perceptions of historical trends, current conditions
and expected future developments, as well as a number of specific
factors and assumptions that, while considered reasonable by
management as of the date on which the statements are made, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies which could result in
actions, events, conditions, results, performance or achievements
materially different from those projected in the forward-looking
statements. Such factors and assumptions include, but are not
limited to, the following assumptions for the remainder of 2023 and
the medium-term, as applicable: the Company’s business, operations
and capital structure continuing as currently maintained, that the
Company’s acquisition program continues without any divestitures of
non-core assets or re-deployment of capital of the Company, the
Company’s ability to realize pricing increases, an increase in
patient visit volumes in the third quarter of 2023, reductions in
previously imposed industry wide regulatory restrictions, the
impact of the investments the Company has made in its marketing and
talent teams and the upgrades to its core information technology
systems; the Company’s ability to continue to make and integrate
acquisitions at attractive valuations including a reduction in
acquisition purchase multiples as compared to prior periods, the
impact of corporate investments made in 2022 and 2023 on the
Company’s operations, including the Company’s corporate
infrastructure and technology stack, including its new Human
Resource Information system and ERP system, the Company benefiting
from its unhedged borrowings due to future and forecasted rate
decreases, the expansion of service offerings and frequency of
patient visits which contribute to optimal patient care, the
Company’s ability to mitigate anticipated supply chain disruptions,
geopolitical risks, inflationary pressures and labour shortages,
ability to expand service offerings and generate cash flow, no
changes in the competitive environment or legal or regulatory
developments affecting our business; visits by patients to our
Practices at the same rate as current visits; no further COVID-19
related significant restrictions and other factors listed in the
Company’s Annual Information Form dated March 23, 2023 and the
MD&A under “Risk Factors”. While the Company considers these
assumptions to be reasonable, many assumptions are based on factors
and events that are not within its control and there is no
assurance that they will prove to be correct.
By their nature, forward-looking statements are subject to
inherent risks and uncertainties that may be general or specific
and which give rise to the possibility that expectations,
forecasts, predictions, projections or conclusions will not prove
to be accurate, that assumptions may not be correct, and that
objectives, strategic goals and priorities will not be achieved.
Known and unknown risk factors, many of which are beyond the
control of the Company, could cause actual results to differ
materially from the forward-looking statements. Such risks include,
but are not limited to, the Company’s potential inability to
successfully execute its growth strategy and complete additional
acquisitions; its dependence on the integration and success of its
acquired dental practices; the potential adverse effect of
acquisitions on its operations; its dependence on the parties with
which the Company has contractual arrangements and obligations;
changes in relevant laws, governmental regulations and policy and
the costs incurred in the course of complying with such changes;
competition in the dental industry; increases in operating costs;
the risk of difficulty complying with public company reporting
obligations; and the risk of a failure in internal controls.
Although the Company has attempted to identify important factors
that could cause actual actions, events, conditions, results,
performance or achievements to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events, conditions, results, performance or
achievements to differ from those anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Forward-looking statements are provided for the purpose of
providing information about management’s expectations and plans
relating to the future, as at the date they are provided. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, or to explain any material
difference between subsequent actual events and such
forward-looking statements, except to the extent required by
applicable law. Accordingly, investors should not place undue
reliance on forward-looking statements. All of the forward-looking
statements are expressly qualified by the foregoing cautionary
statements.
About dentalcorp
dentalcorp is Canada's largest and one of North America's
fastest growing networks of dental practices, committed to
advancing the overall well-being of Canadians by delivering the
best clinical outcomes and unforgettable experiences. dentalcorp
acquires leading dental practices, uniting its network in a common
goal: to be Canada's most trusted healthcare network. Leveraging
its industry-leading technology, know-how and scale, dentalcorp
offers professionals the unique opportunity to retain their
clinical autonomy while unlocking their potential for future
growth. To learn more, visit dentalcorp.ca
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230804170921/en/
For investor inquiries, please contact: 416.558.8338 x
116 investors@dentalcorp.ca
dentalcorp (TSX:DNTL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
dentalcorp (TSX:DNTL)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
