Established in 2005 in Ireland, Smiles currently provides comprehensive dental care to patients from 77 practices throughout the Republic of Ireland, Northern Ireland, England, Wales and Scotland, the deal will see Oasis enter the dental market in the Republic of Ireland.
Justin Ash, CEO at Oasis Healthcare Group, said: 'We believe this is outstanding news for the 2.5 million patients of the combined group and all patients seeking high quality, easily accessible dental care.
'We are also pleased to be extending our partnership with the NHS across the UK and to be providing care under the HSE in the Republic of Ireland.
'We are very excited about this deal and the prospects for the larger group.
'We are well funded to continue our growth, and are actively seeking further complementary acquisitions, as well as new openings to at least double the size of Oasis.'
The addition of Smiles will increase Oasis’s turnover from £160 million to over £210 million, through the provision of quality NHS, private and specialist dental care to over 2.5 million patients, as its practice network grows by 37% from 204 to 281.
Emmet O’Neil, CEO at Smiles Dental, said: 'We were looking for a partner to help Smiles reach the next level and had examined a number of options.
'The team at Smiles, both in the UK and Ireland, have a huge amount to be proud of, and I want to take this opportunity to thank them for their loyalty, support and dedication.'
The two businesses are already well aligned as they share many synergies, supported by outstanding staff and dentists who are focused on quality clinical care and the patient.
Bringing the businesses together provides patients with improved access to a wider range of clinical services and outstanding care across the UK and Ireland.
Oasis will brand the new practices as Oasis Dental Care in the UK, and keep the distinct character of the referral practices in the group.
In Ireland Oasis will maintain the strong Smiles brand, which is already well established.
Founded in 1996, Oasis currently operates over 205 dental practices across England, Wales and Northern Ireland, with over 850 dentists offering exceptional care to over 2 million patients.
Its practices offer a full range of NHS and private dental care and specialist services.
The UK dental market has expanded during the course of the last decade, reaching an estimated £5.7 billion in 2012 (YouGov, 2013).
Oasis’s acquisition of Smiles comes at a time when the dental sector is expected to experience further growth over the next five years.
YouGov (2013) Market Intelligence: Dentists and dental care, [Online], Available: http://yougov.co.uk/news/2013/09/20/market-intelligence-dentists-and-dental-care/ [Accessed 8 April 2014].