1300 Smiles Limited’s Expansion Efforts

Opens new flagship Practice in Morayfield, Queensland: 1300 Smiles Limited’s (ASX: ONT) stock edged low on June 26, 2018 after the company officially opened a new flagship 1300SMILES Practice, which is the brand new, greenfield, state-of-the-art dental practice, in Morayfield, Queensland. This new Practice has the ability to upscale and grow with the  increase in dental services demand, as well as have the scope to utilise some of these rooms for allied health, NDIS, and other related health services in the short-medium term, until required for dental services. The 1300SMILES Practice is strategically located within the $100 million Health Hub Morayfield, which aims to provide the local community to access over 90 medical general practitioners and specialists, along with a state-of-the-art Minor Accident, Emergency and Illness Centre (with ambulance bays), a Mum and Bub Hub, as well as QML Pathology, X-ray and Diagnostic Imaging facility, Blue Care, Open Minds, USC (University of the Sunshine Coast) clinical trials facility, iHear Hearing Clinic, Pharmacy and many more expected to come, including optometry, renal dialysis, a coffee shop/café, day-surgery hospital services. It is expected that more than 3000 patients a day may receive health care treatment / services through its various facilities, once the Health Hub Morayfield is fully operational. Moreover, 1300SMILES Practice at Morayfield is the most recent acquisitions in Queensland, including Buderim, Maleny, Gladstone, Roma and Ingham. This acquisition is subject to completion of the recently announced Noosa acquisition (which still remains subject to contractual preconditions). After this acquisition, the total number of practices acquired or opened by ONT this past 12 months will be nine, which represents a 37% increase in the overall number of Practices. Meanwhile, ONT stock has fallen 1.57% in three months as on June 25, 2018  and is trading at a P/E of 19.99x.


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