Respectfully I have to semi-disagree.Although I agree that some...

Respectfully I have to semi-disagree.

Although I agree that some value comes from the principles, you seem to assume that they will leave in 5 years? You also assume they will forsake their colleagues and steal clients. If they are on an appropriate remuneration package, they should be quite happy to pocket their millions and continue working to the extent it suits them.

If they have plenty of money, and have a practice they built, why would they walk away simply to compete with it - too much effort unless you are highly motivated by money or competition. Dental professionals are humans with lives and the more active and happy they are in the community they more they - and 1300 Smiles - will profit.

The entire company could go the way of VEI if 1300 Smiles doesn't actually add value for the dentists. The history of the company would suggest that - manifestly - it does. I don't think there are many 1300 Smiles dentists that are struggling and the company aims to increase dentists (and therefore its own) revenue.