The Spanish dental sector is undergoing a process of business consolidation driven by international capital. Donte Group closed 2025 with €427 million in revenue and 440 clinics, and aims to reach 600 and €700 million by 2030.
Spanish dentistry is moving away from being an individual professional business to becoming an organisational market. Economist and IE Business School professor Gabriel Bellomusto argues that the main change will be "the value that the dental clinic acquires as an organisation," as published by diariosigloxxi.com.
The data available in the sector points in that direction. Donte Group closed the 2025 financial year with revenue exceeding €427 million, a growth of nearly 11% compared to the previous year, according to results published by the company in May 2026. The company operates 440 clinics and employs over 5,600 professionals, including collaborating dentists.
Its strategic plan includes reaching 600 clinics and exceeding €700 million in revenue by 2030. Meanwhile, the operation announced by Ontario Teachers' to acquire Donte Group valued the company at approximately €1 billion, a figure that reflects the interest of institutional investors in the sector.
The Spanish market is large enough to attract this capital. The Observatory of the Private Health Sector 2026, prepared by the IDIS Foundation using data from the General Registry of Health Centres, Services and Establishments (REGCESS), estimates the number of private dental clinics in Spain to be around 22,800 establishments.
"The entry of large capital does not force all clinics to become larger, but it does require them to be better managed and clearly differentiated," says Bellomusto.
This management requirement clashes with a job market that continues to add professionals. According to the Statistics of Registered Health Professionals published by the INE in 2026, Spain reached 43,672 registered dentists in 2025, an increase of 1.9% compared to the previous year.
The General Council of Dentists has been warning for years about the oversupply of dentists in relation to demand for care and the need to align the training of new professionals with the actual needs of oral health care.
Bellomusto clarifies that saturation should not be measured solely by counting professionals. It is essential to analyse the density of dentists per population, their territorial distribution, the frequency of dental service usage, the disposable income of patients, and the evolution of treatment demand.
When the professional supply grows and demand does not keep pace, pressures on prices, productivity, and remuneration emerge. Therefore, according to the expert, a clinic cannot rely solely on attracting more patients through advertising or promotions: it needs to improve treatment acceptance rates, effective occupancy of treatment rooms, patient recurrence, and clinical productivity.
"In a market with a growing professional supply, management models and differentiation cease to be a commercial option and become essential factors for sustainability," he notes.
Institutional investors seek organisations with growth capacity, recurring cash flows, and scalable operational models. Bellomusto details that the indicators they analyse include recurring EBITDA, the conversion of EBITDA into cash, maintenance CAPEX, working capital, indebtedness, and return on invested capital. They also distinguish between organic and inorganic growth.
The impact of this transformation is not limited to clinics. Implant manufacturers, invisible orthodontics companies, and dental laboratories face a scenario where the ability to establish strategic alliances and differentiate themselves becomes increasingly crucial.
You may also like
