Dental Residency closes a half-million-dollar round, led by Pau Mariné and Seligrat

Dental Residency is raising capital again. The Spanish company, specialized in providing dental services for the elderly, has closed a $500.000 (€500.000) investment round. The current partners have participated in the operation, including Ramalama Inversiones (a pharmaceutical family office headed by Ramon Riera, former director of operations at Grifols). In addition, this operation was led by the Mariné family and the Seligrat family, both of whom have a business tradition in the country.

The unstoppable aging of the population of a country where the public health system cannot cover their dental needs makes it impossible to provide dental care to the millions of people who depend on the system and cannot go to a dental clinic. There are more than 5,000 geriatric residences in which nearly 400,000 elderly people reside in Spain, as well as hundreds of centers for people with functional diversity take in tens of thousands of disabled people.

Dental Residency was born with the objective of giving an answer to this need through an adapted and quality dental care for all the dependent people institutionalized in geriatric and functional diversity centers in Spain. To this end, they have created a home care methodology that allows them to bring dentistry closer to the country’s geriatric centers, through portable dental equipment and our own ad-hoc technological platform for their operating processes.

Latest investing news and finance headlines straight from Wall Street with the Born2Invest mobile app.

Round of investment opened through La Bolsa Social

The company opened this round of investment a month ago through La Bolsa Social, hoping to raise $330.000 (€300.000). Thirty days later it has exceeded its initial goal by $220.000 (€200.000). Of the total amount, more than $110.000 (€100.000) has been contributed by the current partners (the Catalan investment platform Ship2B, Ramalama Inversiones, Sergi Comas, who is the CEO of the company, and René de Jong Inversiones).

The investor Pau Mariné, from the Mariné family, owners of the Liven Agro company, which is dedicated to the selection and storage of corn grain, has contributed $165.000 (€150.000). The Spanish businessman has become a shareholder in Dental Residency with 5% of the capital, as explained by Comas to PlantaDoce.

Dental Residency provides oral care in over 500 nursing homes

The Seligrat family office has also joined the capital of the company and has contributed $143.000 (€130.000). The Seligrats are known in Spain as a group of companies that are a reference in the field of automobile distribution.

The company will use the resources to continue growing, “with the opening of new centers and attracting more customers in the national market,” said the company’s CEO. Currently, the company provides oral care services in more than 500 residences, of which more than 430 are in Catalonia and more than sixty in the Community of Madrid. The Dental Residency has served 40,000 people, according to the latest available data.

The company hired its new business development director last July

The company, founded in 2015, began its activity with an investment of $220.000 (€200,000) contributed by family and friends of the founders. In April 2018, the firm closed its first round of financing with which it raised $330.000 (€300.000), an economic injection that was led by Ship2B and Economists BAN, the business angels network of the Catalan Association of Economists.

Last July 2019, the company incorporated Marc Vancells as the new director of business development. Vancells has a degree in Economics from the University of Barcelona (UB) and a Master’s degree in Social Gerontology from the Bosch I Gimpera Foundation at the same university. The latest addition to the Dental Residency was the director of the Primitiva Barba residence and center, located in Sant Vicenç del Horts, Barcelona.

__

(Featured image by Quang Tri NGUYEN via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce., a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.