Columna Capital has sold its majority shareholding in Ardentis Cliniques Dentaires (the “Group” or the “Company”), an integrated dental care provider headquartered in Lausanne with operations across French-speaking Switzerland, to Medbase, one of the leading healthcare service networks in Switzerland and part of Migros Group. The transaction closed on 14 August.

Medbase will join the shareholding structure as the new majority owner, with the Group’s management team reinvesting to retain a significant minority interest. The ongoing involvement of Ardentis’s management, including Co-CEOs Mark Bischof and Yves Corthésy, will secure strategic and operational continuity when entering this next phase of growth and development.

Founded in 1993, Ardentis is a leading integrated group of dental clinics in Western Switzerland. Columna Capital first invested in December 2019, supporting the management team in responsibly scaling the platform through buy-and-build and organic growth, while continuing to prioritise high clinical standards and patient care. During the investment period, Ardentis has successfully completed a total of 15 greenfield/brownfield openings, acquisitions and patient-book transactions. Today, the Group operates 20 clinics in mainly prime urban locations, employing 450 people and servicing approximately 70,000 patients each year.

The transaction marks a significant new phase in the Group’s development. While management will continue to operate independently, the Company will benefit from strong shareholder support by Medbase (which also owns zahnarztzentrum.ch) to continue its growth journey as the best-in-class dental platform in French speaking Switzerland.

Vilmos Pongracz, Co-Founder and Partner at Columna Capital and Charles Nantois, Partner at Columna, commented: “Since our initial investment in December 2019, we have worked closely with the Ardentis management team to implement a targeted growth strategy in Romandie based on maintaining the high standards of patient care, organic growth, greenfield expansion and M&A. Over the investment period, the group has doubled its footprint by growing from 12 to 20 locations and 77 to 149 chairs, Significant focus has been on the reconfiguration of central services and the expansion of the management team in order to provide best in class operating support to the clinics and to allow for further scaling of Ardentis as an integrated sector leader in the future. We extend our gratitude to Dr Mark Bischof, Dr Rabah Nedir and Yves Corthésy and the entire management team for their collaboration and leadership over the course of this partnership, and we look forward to seeing Ardentis’s ongoing development under Medbase’s stewardship.”

Dr Mark Bischof, Co-Founder and Co-CEO of Ardentis and Yves Corthesy, Co-CEO of Ardentis, commented: “Becoming part of the Medbase Group aligns perfectly with our core values based on high-quality care and long-term sustainable development & collaboration. We have always strived to put servicing our patients at the centre of what we do and to continuously improve the quality of care. Medbase will be a strong partner and shareholder to support us in this journey going forward. With zahnarztzentrum.ch we also share a similar corporate culture. We are looking forward to this new partnership.”

Dr Rabah Nedir, Co-Founder and former Co-CEO of Ardentis, commented: "Since co-founding Ardentis in 1993 and acting as Co-CEO until 2024, I am very proud of what we have built to become the leading integrated dental group in French speaking Switzerland. We have always stuck to our core values of selecting the best locations and providing high-quality dental care to our patients while investing in the professional development of our clinical staff. I would like to express my gratitude to the Ardentis management team and to Columna for their strong commitment and knowledge sharing since 2019, which made this achievement possible.”

Marcel Napierala, CEO of the Medbase Group, commented: "We view dentistry as an important part of primary health care. Ardentis has attractive urban locations and is firmly established as the leading dental group in Western Switzerland. With this acquisition, we can now expand our activities into this region and continue to pursue our strategy of providing integrated healthcare care services."

Columna Capital and Ardentis management were advised by UBS as financial advisor, CMS as legal advisor, Mazars for financial due diligence and Candesic for commercial due diligence. Medbase was advised by Deloitte as financial and HR advisor and Bär & Karrer as legal and tax advisor.

Financial terms of the transaction were not disclosed.

Ardentis Cliniques Dentaires

Founded in 1993 by Dr Mark Bischof and Dr Rabah Nedir, Ardentis is a leading independent, fully-integrated dental group in Western Switzerland, where its strong reputation for high-quality care has positioned it as a best-in-class operator. The Group has grown from one clinic in Vevey, Vaud, to 20 clinics across its geographic area, with well-established central service functions (including an in-house dental laboratory at its headquarters in Puidoux and a call centre) supporting the integration of its portfolio into a clinician-led platform.

Columna Capital

Columna Capital is a London-based entrepreneurial lower mid-market private equity firm with an investment focus in Italy, France, Iberia and Southern DACH. Founded in 2009 and led by five partners, the Columna team consists of an engaged group of professionals that actively support dedicated management teams and entrepreneurs to drive organic growth and execute on strategic consolidation opportunities. Typically, Columna invests in profitable companies with up to €100 million in revenue and significant growth potential and has a sector focus in (i) healthcare and well-being, (ii) animal health, (iii) financial and business services, as well as (iv) agri-food.

Medbase

The Medbase Group operates approximately 190 medical centers, psychotherapeutic practices, pharmacies and dental centers in Switzerland. Over 4,400 healthcare professionals from various disciplines work together in a well-coordinated and interprofessional way. They provide holistic care for patients – from prevention to acute care and rehabilitation. By providing logistics services and digital solutions, Medbase supports medical practices and other stakeholders throughout the medical treatment chain, enabling them to focus on their patients and clients. By connecting physical and digital service points within the Medbase Group as well as with partners in the healthcare ecosystem, Medbase is becoming the first port of call in the Swiss healthcare system.

Press contacts

Columna Capital:

Brackendale Consulting

Fabio Galloni-Roversi Monaco – fabio@brackendaleconsulting.com

+44 (0)7517 192047

Cerys Davey – cerys@brackendaleconsulting.com

+44 (0)7826 421495