INSIGHT

Q2-2019 Dermatology Update

Transaction volume within dermatology was once again driven by robust add-on acquisition activity as another quarter closed with a plethora of strategic acquisitions. Scarcity of sizable groups with which to invest, paired with an abundance of private-equity backed organizations competing for deals has contributed greatly to a landscape dominated by strategic consolidation activity. One notable and unique transaction completed in the second quarter was that of Rush University Medical Center’s (RUMC) investment in private equity-backed Pinnacle Dermatology. In acquiring a minority stake in the sponsor-backed dermatology platform, RUMC is one of the first hospital systems to transact with a private equity firm within the dermatology sector. Provident expects more and more private equity firms to take on further outside investment and/or exit to the next echelon of financial and strategic acquirers.

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Sources: SEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PHP Estimates and Research. This document has been compiled with publicly available information. Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.
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