CODE Company update – 18/11/2019
CODE is the leading provider of software-led compliance and HR services into the dental market. CODE provides dental practices and practitioners with the essential tools required to be compliant and to deliver against mandatory CQC policy and regulations. Its key products include:
August Equity has significant experience in the dental, technology and compliance sectors, as well as across the broader healthcare and multi-site primary care markets, with particular understanding of CQC regulated markets. CODE is an exciting opportunity for August Equity, and represents a solid platform with strong historical organic growth and a high quality of earnings upon which to build a leading software-led healthcare compliance business.
August Equity will be backing the incumbent management team of CODE, led by Managing Director Karen Penfold, and bringing in Sati Sian as Executive Chairman, and Jen Kirkland as CFO to spearhead the growth of the business under its investment. Sati brings with him a wealth of knowledge, having been CEO of Allocate Software under Hg Capital’s investment (selling the business to Vista Equity in 2018), and from his previous roles at IMS. Jen joins CODE with multiple rounds of private equity experience at both Fishawack and Kinapse.
Commenting on the acquisition, August Equity stated, “we are delighted to be working with Karen and the team at CODE to build a market leading software-led compliance business in the healthcare sector. The business operates in a market that we know extremely well and one that presents very strong opportunities for significant growth. Paul and the team have built an extremely strong platform for growth and we would like to thank Paul for choosing us as home for the business he has built to-date.”
Paul Mendlesohn comments;
“CODE has grown to the point where it can now expand much more quickly, and bring exciting new services to the profession, with the right management and funding. I chose August because of their track record In supporting and developing existing management teams and retaining the culture of its businesses. Also because CODE will be central to their strategy. The CODE team that have been supporting you over the years are all staying on and will be there, as usual by phone or email whenever you need them. It is with sadness that I leave the company I have loved for 20 years, but life circumstances are forcing me to move on and I’m grateful that I feel I have found a ‘safe pair of hands’ to take CODE forwards”.
We strive for simplicity and efficiency to save our members time and money, helping them to meet their goal of total patient satisfaction. It is CODE’s aim to be the partner of choice for all UK dental practice owners and managers.
Insight – the CODE team has a deep understanding of dentistry and dental business management based on over 35 years’ experience in both running multiple practices and providing compliance and management solutions to thousands of practice owners.
Integrity – the CODE team is committed to transparency, openness and maintaining full integrity in relationships with each other and with our valued members. This means that CODE people follow their own highest moral principles at all times.
Innovation – We provide simple, effective and powerful solutions to help members thrive prosper and comply. We continually engage with our members to provide support, new ideas and best practice guidance. Through this engagement we achieve continuous improvement and innovation.
Inspiration – We are passionate about our roles and the experience we bring to practice owners and managers. We aim to inspire each other, our members and everyone we come into contact with to achieve a happy and successful work/life balance.
CODE was founded in 1978 with the aim of helping dental practice owners and managers provide a quality service. It rapidly became famous for its associate agreements and NHS contracts to secure payments to practices. Our contracts are still thought of as the best in dentistry and are provided free to members.
Today, CODE continues to provide innovative services and support, and inspire members across more than 2,000 dental practices to achieve the shared goal of increasing patient satisfaction and profitability, year on year. We provide the best ideas for your practice and the tools you need to comply and make it successful.
CODE is the only professional association for dental practice owners and managers that provides the independent practice with the support and systems enjoyed by the large dental chains.
See the new CODE Articles of Association here.
See the latest CODE accounts CODE 31.03.19 Accounts.