PGP advises Peachtree Dermatology in transaction with PhyNet
CHICAGO, June 1, 2023 – Physician Growth Partners (“PGP”) is pleased to have advised Peachtree Dermatology Associates (“Peachtree Derm”), a six-provider Atlanta-based practice, in a new partnership with PhyNet Dermatology (“PhyNet”). This transaction represents PhyNet’s continued expansion into the Greater Atlanta and broader Southeast U.S. markets.
Serving greater Atlanta since 1957, Peachtree Derm has gained an unmatched reputation within the Buckhead community for its high level of dermatologic care. Peachtree Derm offers a full spectrum of medical and cosmetic services to its dedicated patient base, many of which come from families it has cared for over decades. With a dedicated team of board-certified dermatologists, mid-level providers and aestheticians, Peachtree Derm delivers quality outcomes across their suite of offerings.
Led by Drs. Silvia Wright and Christine Law, Peachtree Derm has established itself as a leader in the Greater Atlanta market. Peachtree Derm will add to PhyNet’s existing presence in Atlanta following their recent affiliation with Georgia Dermatology Partners, which PGP also advised. PhyNet’s extensive operating resources and management experience will enable Peachtree Derm to enhance and expand their clinical offerings and geographic reach.
PGP served as exclusive transaction advisor to Peachtree Derm in its evaluation, negotiation, and execution of the transaction.
Dr. Wright noted the following about her experience with PGP: “Physician Growth Partners was instrumental in guiding our successful partnership with a strong equity firm. The PGP team provided invaluable insight and knowledge that guided our practice smoothly through a tremendously complex process. The expertise and diligence of the PGP team cultivated a partnership that provides cultural alignment along with the stability and growth that our practice desired. I am confident that we would not have been as successful in reaching our goals without PGP.”
Dr. Law added, “Reflecting back on the past few months, I could not imagine undertaking this process without enlisting the assistance of Physician Growth Partners. Michael Kroin and his team were instrumental in helping us navigate each step and provided solid advice along with honest candor. Not only did PGP act as strong advocates on our behalf, but they also performed exceptionally as an intermediary between both parties involved, ensuring that our transaction progressed smoothly and efficiently. I am immensely grateful that we selected PGP to represent us. Their unmatched expertise, experience in the field, and dedicated commitment to their clients served as the driving force behind our success in closing this deal.”
PGP Vice President Jeremy Murphy said, “Our entire team at PGP is excited for the future success of Peachtree Derm as they begin their next chapter with PhyNet. Their physicians and staff are exemplary thought leaders in their specialty, and it has been a privilege to advise them in their search for a partner dedicated to continuing their mission to provide the best dermatologic care in the Atlanta area.” PGP CEO Michael Kroin added, “I am extremely pleased with Peachtree Derm’s outcome in this process. Their history in Atlanta, combined with their unmatched reputation and service mix, plus strong, committed, and young leadership, gained the attention of several potential partners. When all options were considered, it became clear that working with PhyNet will best enable an extremely attractive outlook for Peachtree’s practice and patients for many years to come.”
About Physician Growth Partners
Physician Growth Partners is one of the most active national healthcare advisory firms dedicated to representing medical specialty practices in transactions with private equity. PGP creates value by providing operational support, strategic positioning, and transaction advisory, delivering optimal outcomes for its clients.