Credabl Holdings has acquired a strategic shareholding in Prime Practice (Prime), with plans to acquire the balance within the next two years. The impetus to join forces began in the second half of 2021, after the two businesses identified strong synergies in their 5-year business plans.
Prime Practice was established in Australia 25 years ago and has grown to become a global provider of practice management consultancy and training services with clients across Australia, New Zealand, Southeast Asia, China, North America, and Europe. The company supports the growth and sustainability of businesses by providing training that improves skills and business acumen.
continuing professional development (CPD) combined with strong financial and business management skills are the cornerstones necessary to own and operate great practices
Credabl provides tailored financial solutions for medical, dental, and veterinary professionals. Through simplified, customised, and digitised solutions, Credabl ensures that medical professionals receive financial attention in both their personal and professional lives.
The move to fully acquire Prime aligns with Credabl’s strategy to “fuel the ambitions of medical, dental, and veterinary professionals in Australia”. Additionally, it furthers Credabl’s goal to educate, inform and finance the professions and speaks to the greater impact both businesses can make for the community and our clients.
According to Credabl, “This is just the beginning”. The company has plans to actively seek strategic partnerships that will enhance the group by creating more value for its clients in their practice lives.
Stafford Hamilton, CEO and Co-founder of Credabl said, “We believe that continuing professional development (CPD) combined with strong financial and business management skills are the cornerstones necessary to own and operate great practices. Often, these skills do not form part of the curriculum in dental and medical schools which, understandably, have a focus on clinical expertise. Naturally, good practice management capabilities lead first and foremost to better patient outcomes, but are also organic in creating increased financial success, expansion, and wealth creation for the practitioner.
“Prime is undoubtedly the leader in practice management education within the dental market in Australia. By combining activities and IP, we believe we can take Prime’s experience and success into the medical and vet professions, and beyond. Credabl continues its commitment to supporting the journey of practitioners and, by joining forces with Prime, we can take our support to the next level by delivering to practice owners.”
Prime Practice CEO, Wayne Shainfeld, who will join the combined leadership team responsible for the two businesses while continuing in his role leading Prime said, “We believe this will result in creating a value-added lending model with Credabl, which will increase the financial success, expansion and wealth creation of practitioners and practices.”