The private equity group EQT has invested 44 million Swiss francs ($47 million) in the dental chain Swiss Smile based on a partnership agreement with the founders and majority owners, Drs. Haleh Abivardi and Golnar Abivardi.
The sisters are both dentists who founded the company in 2002. The existing minority shareholders have been bought out with the new funds provided by EQT, the companies noted in a press release.
Swiss Smile operates several clinics in Switzerland and has franchises or joint ventures in the U.K., Russia, and India. The company also has its own cosmetics products range through another joint venture.
The funds provided by EQT will be used to further develop the existing business and expand in Switzerland, mainly through acquiring top-quality clinics, often with a high degree of specialization.
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