PGP advises MetroDerm P.C. in transaction with United Derm Partners
CHICAGO, July 20, 2022 – Physician Growth Partners (“PGP”) is pleased to have advised MetroDerm P.C. (“MetroDerm”), in its recent partnership with United Derm Partners (“UDP”), a private equity-backed dermatology platform and portfolio company of Seattle-based Frazier Healthcare Partners. This transaction represents United Derm Partners’ entry point into Atlanta and the greater southeast region of the US.
MetroDerm is led by founder Dr. Diamondis Papadopoulos, COO Dr. Amy Kim, and six additional physician shareholders. Since its founding in 2003, MetroDerm has grown to be the preeminent provider of dermatology (medical, surgical, cosmetic, and pathology) and plastic surgery services in the greater Atlanta market. MetroDerm’s 30+ providers deliver comprehensive care across an expansive footprint that includes five clinical locations and two centers for plastic surgery. Their full scope service offering and dominant geographic footprint is supplemented by a clinical reputation that has allowed MetroDerm to grow into Atlanta’s uncontested dermatologic market leader.
UDP will provide the resources and expertise to enable MetroDerm to accelerate the rapid growth they’ve experienced over the past several years through continued geographic expansion, provider recruitment, service expansion, and other strategic growth initiatives.
PGP served as the exclusive transaction advisor to MetroDerm throughout the transaction process—this included developing a concise overview of the practice’s finances and operations, creating a marketing package to highlight its core strengths and growth opportunities to potential buyers, as well as negotiating the final deal.
Dr. Diamondis Papadopoulos, founder & CEO of MetroDerm said, “Michael Kroin and PGP were an invaluable guide and an absolutely necessary participant through the entire transaction process. Their tireless commitment and support as well as their frank advice for both sides/parties in the transaction was what ultimately led to its successful completion. As a result of their efforts, all participants came to the conclusion that it was a fair and mutually beneficial merger.”
Dr. Amy Kim, MetroDerm’s COO, added “We are so grateful to have had Physician Growth Partners be by our side throughout this difficult process of finding the right partner. Michael Kroin and PGP had both the leadership and integral market experience to guide us from beginning to end. They understood what type of merger and partnership we were looking for, and they significantly enhanced our ability to represent ourselves in the best way possible. Ultimately, working with PGP enabled us to achieve our most desirable outcome.”
Michael Kroin, Managing Partner for Physician Growth Partners, added, “It has been an honor to advise the MetroDerm shareholders in this transaction with United Derm Partners. From the outset, we were excited about the practice that Dr. Papadopoulos and his team have built over 20 years. Through its impressive provider base, geographic reach, and clear path to continued growth, we knew that MetroDerm would be an extremely attractive opportunity for potential partners in the market. After evaluating several options, it was evident that UDP matched exactly what MetroDerm needed in a partner—operational strength, ample support for growth, and most importantly a commitment to maintaining clinical autonomy while developing the leading dermatology platform in the Southeast. Our team is beyond pleased with the outcome of this process, and we look forward to seeing MetroDerm thrive alongside United Derm Partners.”
Physician Growth Partners is one of the most active national healthcare advisory firms dedicated to representing physician platforms in transactions with private equity. PGP creates value by providing operational support, strategic positioning, and transaction advisory, delivering an optimal outcome for its clients.