Credabl Holdings has acquired a strategic shareholding in Prime Practice (Prime), a global provider of practice management consultancy and training services with clients across Australia, New Zealand, Southeast Asia, China, North America, and Europe. Credabl plans to acquire the balance of Prime within the next two years in a move that aligns with its strategy to “fuel the ambitions of medical, dental, and veterinary professionals in Australia”.
In a statement, Credabl said the acquisition will also further its goal to “educate, inform and finance the professions and speaks to the greater impact both businesses can make for the community and our clients”.
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 Practice CEO, Wayne Shainfeld, who will join the combined leadership team responsible for the two businesses while continuing in his role leading Prime, said the acquisition “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.”