Physician Growth Partners Advises Skin Center on Partnership With Forefront Dermatology
Physician Growth Partners (PGP) is pleased to announce a partnership between Skin Center and Forefront Dermatology, a portfolio company of OMERS Private Equity. This partnership bolsters Forefront’s presence in the South Florida market and empowers Skin Center with significant resources to accelerate its growth.
Led by Dr. Barry Galitzer, Skin Center has been recognized as a leading, comprehensive dermatology practice in South Florida for over 40 years. With more than 10 providers and over 10,000 square feet of clinical space at its Fort Lauderdale flagship, Skin Center will continue to build upon its reputation as a regional clinical leader in Dermatology. With Forefront’s support, it is poised to pursue and capitalize on both current and future growth initiatives through additional partnerships, service line expansion, and provider recruitment.
Physician Growth Partners served as the exclusive transaction advisor to Skin Center in its evaluation, negotiation, and execution of this transaction.
Speaking on the transaction process, Skin Center shareholder Dr. Barry Galitzer noted, “Maintaining our strong company culture was very important for us when evaluating our partnership options. We wanted to find a partner that would not only empower our group, but one that would ensure, through clinical autonomy, that patient care quality would remain intact. Ezra Simons and the PGP team led us through a comprehensive, multi-faceted process that allowed us to evaluate numerous different options. Physician Growth Partners and their depth of experience made all the difference in a process that included a lot of moving parts. PGP educated us every step of the way in terms of what to expect, what questions to ask, and how to position ourselves to ensure we were articulating exactly what we were looking for in a way potential partners would fully understand. This led to us ultimately deciding to pursue a partnership with Forefront Dermatology, given their track record and history of success in the space. We are extremely pleased with the outcome of this transaction, are eager to work alongside the Forefront team in developing South Florida, and grateful for the work of the PGP team in making the outcome a reality.”
Ezra Simons, Managing Partner at Physician Growth Partners, commented: “Since Dr. Galitzer has owned the business, he has demonstrated an incredible track record of growth and expansion. As a younger physician, a transaction would only make sense for his team if it were set up in a way that allowed him continued clinical autonomy while also supporting him outside his current business and four walls, putting him in a position to get further with a partner than he could alone over the same time period. By placing his trust in the PGP team, we were able to consider numerous opportunities, eventually concluding that a partnership in Forefront was the best outcome. They shared the same vision as our client and will immediately be able to provide the appropriate resources for them to continue accelerating their growth.”
About Physician Growth 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, ultimately realizing an optimal outcome for its clients. For more information visit: www.PhysicianGrowthPartners.com