Physician Growth Partners Advises Advanced Dermatology Associates on Partnership With Advanced Dermatology, PC
CHICAGO, February 16, 2021 – Physician Growth Partners (“PGP”) is pleased to announce a partnership between Advanced Dermatology Associates (“ADA”) and Advanced Dermatology, PC (“ADPC”), a leading dermatology center with over 50 locations across New York, New Jersey and Pennsylvania. This partnership facilitates the Platform’s continued growth as a dermatology-focused clinical leader in the greater Northeast region.
Founded by Dr. Larry Jaeger nearly 30 years ago, Advanced Dermatology Associates has been recognized as one of the leading providers of medical, cosmetic, and surgical dermatology to underserved markets throughout the New York metropolitan area. ADA’s facility-driven model is supported by a fully integrated clinical and operational team, including 11 providers focused on delivering the highest quality dermatologic care through a network of six state-of-the-art facilities. In tandem with the transaction, ADA will rebrand its facilities to “City Derm, a division of Advanced Dermatology, PC.” Utilizing ADA’s established reputation for delivering exceptional care in traditionally underserved markets, ADPC will be able to catalyze future growth through provider recruitment, de novo locations, and additional partnerships.
Physician Growth Partners served as the exclusive transaction advisor to Advanced Dermatology Associates in its evaluation, negotiation, and execution of this transaction.
“The mantra of Advanced Dermatology Associates has always been, and continues to be, providing the highest quality dermatology care to our patients,” noted Dr. Larry Jaeger. “As we began evaluating our strategic options, we came to realize the importance of having an advisor who understood our unique vision, platform, and culture, and could effectively articulate the synergistic qualities of our organization to a potential partner. Michael Kroin, Jeremy Murphy and the PGP Team validated their reputation as seasoned, client-centric advisors, orchestrating a comprehensive and highly competitive process that allowed us to fully grasp the intricacies associated with entering into a transaction. Their guidance and thoughtfulness, while navigating a complex process throughout the pandemic, allowed us to fully maximize the value of a strategic partnership. We could not be more pleased and excited for the future growth potential with ADPC.”
“It was an honor working with Dr. Jaeger in his pursuit and ultimate consummation of the partnership with ADPC. ADA has built an unmatched reputation for facility-driven, patient-focused dermatologic care that will only continue to grow with the support of ADPC. We tailored our process to meet the needs and expectations of Dr. Jaeger and his team, allowing them to comprehensively evaluate their strategic options. As the process unfolded, ADPC’s collaborative and growth-oriented nature, combined with shared values surrounding high-quality patient care, solidified their position as the ideal partner for ADA. We share Dr. Jaeger’s enthusiasm for the successful execution of this partnership, and look forward to what is in store for the Platform,” said Michael Kroin, Managing Partner at Physician Growth Partners.
For more information, please contact Michael Kroin at [email protected]
About Physician Growth Partners
Physician Growth Partners is a leading transaction advisory firm that focuses exclusively on advising physician-owned businesses in transactions with private equity. PGP’s education-focused approach creates value for its clients by ensuring their goals are met in a competitive transaction process.
This transaction furthers PGP’s position as the leading provider of transaction advisory services to physician-owned businesses across a range of specialties including: ophthalmology, urology, gastroenterology, dermatology, pain management, ENT, women’s health, orthopedics, podiatry, and behavioral health.