Physician Growth Partners Advises Sperling Dermatology on Partnership With OMERS-Backed Forefront Dermatology
Physician Growth Partners (PGP) is pleased to announce a partnership between Sperling Dermatology (Sperling) and Forefront Dermatology (Forefront), a portfolio company of OMERS private equity. This partnership facilitates Forefront’s continued growth serving as an entry point into the State of New Jersey.
Founded in 2016 by board-certified Dermatologist Dr. Shari Sperling, Sperling Dermatology has been recognized as both the fastest-growing cosmetic dermatology business in the country and the #1 provider of body sculpting services, most notably CoolSculpting, nationally. Dr. Sperling partnered with career sales & marketing executive Ari Katz to develop a differentiated platform powered by unmatched marketing, technology and patient-acquisition capabilities. Sperling’s unique angle is supplemented by a renowned medical offering and reputation that led to Dr. Sperling becoming the highest-rated dermatologist on HealthGrades.
Sperling’s multi-faceted strategy combines 12 providers across a three-office footprint in New Jersey alongside New Jersey’s first Mobile Spa, an innovative “straight to your door” mobile treatment solution. Forefront will be able to catalyze Sperling’s future growth by leveraging Sperling’s unique brand, marketing, and patient acquisition strategies not only across the New Jersey market, but its entire national footprint.
Physician Growth Partners served as the exclusive transaction advisor to Sperling Dermatology in its evaluation, negotiation, and execution of this transaction. Russell Hilton of Alston and Bird provided legal counsel to Sperling Dermatology.
“The Sperling Dermatology brand has always been focused on differentiating ourselves from the market,” noted partners Dr. Shari Sperling and Ari Katz. “Our rapid trajectory toward becoming the largest provider of CoolSculpting/body sculpting services nationally proved that we’d figured that out, but we were at a crossroads in terms of navigating the next chapter of our growth. PGP’s strategic guidance led by Ezra Simons, coupled with the execution supported by Jeremy Murphy and Jay Farkas, enabled us to meet with an unbelievable pool of qualified potential partners, all with different backgrounds and a unique angle within healthcare services. PGP ensured each group was exceptionally competitive from a valuation and structural standpoint. As a result, we were able to choose the partner that we felt would put us in the best position to realize our full potential. Forefront truly checked every box. As the leading dermatology group practice in the country with a national footprint and growing cosmetic offering, we felt there was a unique opportunity to continue growing the Sperling Dermatology brand in New Jersey while working alongside Forefront to build similar success stories in other markets. We could not be more excited for this next chapter.”
“It was an honor working with Dr. Sperling and Ari Katz in their pursuit and ultimate consummation of the partnership with Forefront. Sperling had developed a patient acquisition model we hadn’t seen before from a dermatology business. It was clear that, if we were able to position the business the right way, we could generate significant interest beyond traditional healthcare service-focused investors and strategics. We tailored a unique process that we felt could truly position the Sperling team to realize their potential. Ari and his team were able to comprehensively evaluate their strategic options and choose from multiple, very attractive and differentiated proposals and visions for growth. Ultimately, Forefront’s growth-oriented nature, vast resources, and shared values surrounding high-quality patient care, alongside the ability to spread leverage what Sperling does so well across an existing, expansive, and well-respected footprint, solidified their position as the ideal partner for Sperling Dermatology. We’re extremely excited about this transformational partnership and look forward to what the future holds for the platform,” said Ezra Simons, Managing Partner at Physician Growth Partners.
About Physician Growth Partners (PGP)
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.