Vivanta announces temporary closure of all dental clinics in Spain

Vivanta, a dental clinic group controlled by the US-based Ares Management, has announced the immediate temporary closure of its entire network of clinics in Spain. The decision aims to preserve remaining liquidity as the company faces a critical financial situation while awaiting a ruling from the European Commission.

The company, operating under Grupo Aestes, entered insolvency proceedings in August with liabilities totaling nearly 100 million euros against assets valued at only 4 million euros. The closure follows the expiration of a purchase offer from the Canadian Ontario Teachers' Pension Plan (OTPP), which sought to acquire a productive unit of 61 centers through Donte Group (owner of Vitaldent).

The transaction faced significant opposition from the Spanish State Attorney's Office, which argued that the 40 million euro rescue package provided by the SEPI (Strategic Enterprise Solvency Support Fund) in 2022 constitutes illegal State Aid. This legal uncertainty has delayed the European Commission's decision, prompting Vivanta to halt operations to avoid further cash depletion. The move impacts approximately 600 employees and leaves tens of thousands of patients with pending treatments.