The Strategic Partnership between Studio Primieri, Nauta Studio, and ANDI Veneto

The Context: The Evolution of the Dental Sector

In recent years, the world of dentistry has undergone a profound corporate and market transformation. The traditional dental practice can no longer be managed solely as a professional office, but must be structured and analyzed as a true healthcare business.

This scenario marks the birth of a strategic collaboration between ANDI Veneto (National Association of Italian Dentists - Veneto Section), the service platform Nauta Studio and Studio Primieri together with the infrastructure of FidoCommercialista, selected as the vertical technical partner for its advanced expertise in corporate, economic-financial, and business valuation matters.

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The Challenge: Providing an Objective and Measurable Value to the Practice

Valuing a dental practice or analyzing its economic health presents complex obstacles:

1. Absence of standard corporate financial statements: Many practices still operate as sole proprietorships or professional associations, lacking a reclassified income statement useful for management purposes.

2. Strong dependence on the owner: Revenue is often inextricably linked to the founder's clinical presence, making it difficult to estimate business continuity in the event of a sale or generational transition.

3. Lack of objective criteria: Too often, estimates are based on generic "rules of thumb" (e.g., simple revenue multiples), which risk dramatically overestimating or underestimating the actual value of the practice.

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The Solution: The Integrated Studio Primieri & Nauta Model

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1. Calculating the Value of the Dental Practice

A rigorous valuation process based on the integration of the Income approach and Market multiples, weighted with specific data regarding the organization and the patient base:

• Normalized EBITDA: Reconstruction and adjustment of the gross operating margin to exclude non-core components and owner compensation.

• Independence Analysis: Assessment of the impact of individual services and the owner's weight relative to the organizational chart and staff.

• Exit Scenario: Development of the estimate considering two operational hypotheses — Immediate exit or Guided handover.

• Output: A detailed report of approximately 15 pages with video commentary and a one-on-one strategy session.

2. Economic-Financial Analysis and Management Control

A true "X-ray" of the practice's business health:

• Tax and Accounting Reclassification: Transformation of accounting data (including tax returns) into management balance sheet ratios.

• Margins and Hourly Cost: Precise calculation of the hourly cost per dental chair and operating margins for each specialty or treatment.

• Industry Benchmarks: Comparison of practice performance against national and regional averages.

3. Use Cases for the Dentist

The services developed through this partnership address the key needs of the modern dentist:

• Generational Transition: Transferring the practice to children or young associates using transparent and shared parameters.

• Extraordinary Transactions and Ecosystems: Mergers between professionals, transformations into professional partnerships (STp) or dental limited liability companies (Srl).

• Exit Strategy Planning: Prepare your practice for sale years in advance to maximize its exit value.

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The Results of Our Collaboration

Through the technical support provided by Studio Primieri and FidoCommercialista as part of the ANDI Veneto – Nauta partnership:

• Dozens of dentists have, for the first time, obtained a scientific and indisputable valuation of their professional assets.

• The practices involved were able to negotiate mergers, partner acquisitions, or sales with a solid contractual and financial foundation.

• A standardized analytical methodology, specific to the Italian dental sector, has been established.

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A Comment from Nicola Primieri

"Valuing a dental practice is not just a mathematical formula; it is a synthesis of clinical history, organization, and future potential. Thanks to our synergy with Nauta and ANDI Veneto, we have succeeded in transforming rigorous financial analysis into strategic decisions for the professional's future."