CHICAGO, IL September 9, 2024 – Physician Growth Partners (“PGP”) is pleased to have advised Lexington, KY-based Dermatology Consultants (“Derm Consultants”), a leading comprehensive dermatology and aesthetics practice, in its partnership with Forefront Dermatology (backed by Partners Group).

Established in 1976, Derm Consultants has grown into a leading dermatology practice in the Lexington, KY region with 12 providers, three clinic locations, and a comprehensive suite of medical, surgical, and cosmetic dermatology services. Derm Consultants will leverage the relationship with Forefront to enhance its infrastructure, facilitate new service offerings, expand its geographic footprint, and further develop its market position. 

Physician Growth Partners served as the exclusive advisor to Derm Consultants in its evaluation, negotiation, and execution of this partnership.

“We could not have done this transaction without the team at Physician Growth Partners! Michael, James and Jake were invaluable through the entire process,” stated dermatologist and senior partner, Dr. Erika Music. “They got to thoroughly know us and our practice and helped us select the right partner we were searching for. Michael and his team’s expert, experienced advice, guidance, and negotiation skills helped us secure a transaction we could never have closed on our own. The PGP team is professional, responsive, and genuinely interested and motivated to make a stressful process go as smoothly as possible. I am so thankful for them, and I cannot recommend them highly enough.”

Dr. James Lagrew, one of the other senior partners at the practice also said, “In the course of our recent transaction, PGP went above and beyond to make sure we were partnering with an ideal platform. They have developed a unique set of knowledge and relationships within the dermatology industry that allowed our practice to achieve an outcome that we do not feel would have been possible without them. They remained available, professional, and in touch every step of the way. We are so grateful to have worked with PGP and are confident they more than justify their fee with the upside they achieved for us. We would not hesitate to recommend PGP to any practice looking to evaluate their options in this space.”

PGP CEO and lead advisor, Michael Kroin said, “Derm Consultants’ partnership with Forefront will help the practice continue to execute on its growth initiatives while maintaining its longstanding brand that has been serving the Lexington market for over 40 years. Given the young shareholder base, it was critical to help Dermatology Consultants find a partner that was the right cultural fit. We are very pleased with the outcome achieved and excited to see the continued growth of the practice.”

Located throughout the East, Midwest, Mid-Atlantic, Southwest, Southeast and West, Forefront Dermatology is a large and growing, physician-led, single-specialty group practice comprising 200+ dermatology practices.

President of Forefront Dermatology, Dr. Betsy Wernli, added, “We are thrilled to partner with Dermatology Consultants. Their commitment to world-class patient care and innovation in this industry make them an ideal fit with our own physician-led culture. We look forward to helping them advance their level of care even further in Lexington, KY and its surrounding communities.”

“We appreciate PGP’s professional support and dedication during the partnership process and discussions with the Derm Consultants team,” said Matt Mellot, CEO of Forefront Dermatology. “They helped bring together two like-minded groups both focused on advancing the patient experience. We take great pride in partnering with leading practices across the country and are excited to now welcome Derm Consultants into our network.”

About Physician Growth Partners

Physician Growth Partners is one of the most active sell-side healthcare investment banking firms in the US and is dedicated to representing specialty physician practices in transactions with private equity and strategic partners. PGP creates value by providing operational support, strategic positioning, and transaction counseling from start to finish. Founded in 2017, PGP has advised more than 60 practices in successful transactions with private equity and strategic partners.

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