The Dermatology Center, P.A. (The Dermatology Center) has completed a recapitalization with Pharos Capital Group, LLC (Pharos). The Dermatology Center is a leading medical and cosmetic dermatology practice with four locations in the metro Washington D.C. area. The Company prides itself on offering the most comprehensive dermatology services in the area. Provident Healthcare Partners served as exclusive financial advisor to The Dermatology Center. The terms of the transaction were not disclosed.
“Dr. Palestine and her team have built a tremendous reputation by providing exceptional patient care,” notes Craig Sager, Senior Associate at Provident Healthcare Partners. Scott Davis, Director at Provident Healthcare Partners adds, “The Dermatology Center represents a true platform investment in one of the most active healthcare verticals and most desirable geographical locations. In conjunction with Dr. Palestine’s medical expertise and local market knowledge, the opportunities to grow through de novo openings and acquisitions will certainly be vast.”
“We are very excited about the new partnership created by The Dermatology Center and Pharos Capital Group, which will allow The Dermatology Center to continue to expand its operations while remaining a superior provider of comprehensive dermatology services,” commented Justin Hand, Managing Director at Provident Healthcare Partners.
About The Dermatology Center
The Dermatology Center was founded over 30 years ago by Dr. Roberta Palestine, its sole shareholder. The Dermatology Center’s primary medical services include general medical dermatology, cosmetic dermatology, Mohs surgery, plastic surgery, patch testing (the only offering private practice in the area), and Psoriasis treatment. MDs, PAs, and estheticians also offer treatment of acne, rosacea, and hyperpigmentation at the medical spas. The Company also offers a dermatopathologist, a skin-of-color specialist, and a concierge medicine service in the Sibley office. For more information, please visit https://dermskin.com.
About Pharos Capital Group
Headquartered in Dallas and Nashville, Pharos Capital Group (“Pharos”) was founded in 1998 and has managed capital through three private equity funds. Pharos’ latest partnership is focused on providing later stage equity funding for internal growth, acquisitions, leveraged buyouts, management buyouts or recapitalizations across industry sectors, with particular focus on healthcare and business services. For more information, please visit www.pharosfunds.com.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for middle-market and emerging growth healthcare companies. The firm has a vast network of high-level, senior industry contacts, a thorough knowledge of market sectors and specialties, and unsurpassed experience and insight into the M&A process. Provident uncovers value and opportunities that others often overlook to create transaction premiums for its clients. For more information visit the Provident website www.providenthp.com.
Provident Healthcare Partners
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