Dental firm eyes expansion after property purchase

A manufacturer of dental prosthetics has taken ownership of the laboratory it had been renting and created new jobs.

TopLabs Prosthetics used a £146,000 commercial mortgage from HSBC UK to acquire the 45,000 sq ft laboratory in Oldbury which it had leased since 2019.

The buyout allows the company to refurbish the site and adjust the laboratory to its specific requirements, creating space for an additional six new technicians to join the existing team of 30.

Established in 2019, TopLabs Prosthetics serves NHS and private dental practices.

This deal will enable the company to produce 10,000 more dentures per year and take on more contracts, increasing its growth by 40 per cent by the end of 2024.

Director Ravinder Jhutie said the acquisition of the site meant the company would strengthen its position in the dental sector and accelerate its growth plans.

"Being able to customise our lab will allow us to serve our clients more effectively and support the growing demand for healthy smiles," he said.

Simon Phillips, relationship manager at HSBC UK, added: "The global dental prosthetic sector is projected to grow at a rate of 7.5 per cent annually from 2023 to 2029.

"TopLabs Prosthetics is a well-established dental laboratory in the region and we're proud to facilitate this expansion and support the company with job creation and meeting the growing needs for dental care."