Prime Practice, [25 March 2022]. Credabl and Prime Practice are joining forces to create the next evolution in holistic service provision for the medical, dental and veterinary communities. On 17 March 2022, Credabl Holdings 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. Prime’s unique content and innovative technology support the growth and sustainability of businesses by providing training to all team members to improve their skills and business acumen.
Credabl is a team of finance specialists providing tailored solutions for medical, dental, and veterinary professionals. Through simplified, customised, and digitised solutions, Credabl ensures that medical professionals receive the financial attention they deserve in both their personal and professional lives.
Prime Practice CEO, Wayne Shainfeld, will continue in his role leading Prime and joins the combined Leadership Team responsible for the two businesses.
The move to fully acquire Prime aligns with Credabl’s strategy to fuel the ambitions of medical, dental, and veterinary professionals in Australia. 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.
This is just the beginning. Credabl is actively seeking strategic partnerships that will enhance our group by creating more value for our clients in their practice lives.
Stafford Hamilton, CEO and Co-founder of Credabl:
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 school 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 and medical professionals the financial and management skills they need to be successful in life and in business.
Wayne Shainfeld, CEO of Prime Practice:
At Prime Practice, we believe that education is the fabric that weaves the various aspects of a practice into a thriving and successful business. By joining forces with Credabl, we are creating a significant and immediate opportunity to enhance the engagement and growth of our clients. Our approach, which complements the full suite of Credabl’s financial offerings, will help us achieve our goal of supporting practice owners and their teams, so they can grow personally and professionally from graduation through to retirement. 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. Both businesses will continue operating under their own brands and we will actively seek to create synergies to ensure we harmonise our operations. This will enable us to adapt and grow faster, while maximising opportunities to achieve our business objectives and those of our clients.