MSIF puts £800k into Evodental

LIVERPOOL-based dental implants firm Evodental has taken an £800,000 investment from the Merseyside Special Investment Fund (MSIF).

Based in Knowsley, Evodental specialises in complex implant work as an alternative to conventional bridges or dentures.

One of its projects involves working with Manchester-based 2-DTech on false teeth which use graphene to make them more comfortable.

MSIF’s investment has bought it a minority stake. Evodental will use the money to invest in its laboratory and roll out of further clinics.

Evodental was founded in 2008 by Dr R P Vijayanarayanan, known as Dr Vijay, director and principal surgeon. He runs the business with managing director Steve O’Brien. As part of MSIF’s investment Paul Coburn has become finance director and Andrew Thirkill, formerly marketing director of Ultralase, has also joined.

Dr Vijay said: “Dental implants are accepted as the gold standard for the replacement of lost or failing teeth. Bad or no teeth completely alters the way you look and other people’s perception of you. It can be very damaging to confidence.  We can change people’s lives by literally putting a smile on their faces.

“Whilst the business has grown significantly since we started, it is the right time now for us to expand and roll out new practices across the UK, the first of which will open shortly in London.

MSIF investment director Mark Borzomato said: “Dr Vijay is a leading expert in his field and is very passionate about what he does. Alongside his co-directors he forms part of an innovative and focused management team.  Evodental has built up a fantastic reputation with the capacity to grow significantly. We are delighted to be on board as investors and look forward to working with the team to grow the business throughout the UK.”

Brabners Stuart and Brabners provided corporate finance and legal advice to the company. MSIF was advised by DWF and Mitchell Charlesworth.