Edgemont Partners Advises West Dermatology on its Merger with Platinum Dermatology Partners
Transaction is Edgemont’s twenty-sixth healthcare services transaction in the past twelve months
NEW YORK, NY – June 23, 2022 – Edgemont Partners (“Edgemont”), a premier healthcare investment bank and a leading M&A and capital raising advisor exclusively serving healthcare companies, announced that it acted as financial advisor to West Dermatology (“WestDerm”) on its merger with Platinum Dermatology Partners (“Platinum”). Edgemont’s deal team was led by Managing Director Brett Skolnik.
The combination of WestDerm, a group providing business support services to over 300 dermatology providers, including many of the most prominent dermatologists in the Western United States, and Platinum, a dermatology group practice organization with a strong presence among many of the leading physicians in the fast-growing Texas and Arizona markets, creates a clear industry leader with more than 100 locations spanning the Southwestern U.S. and Southern California.
Founded in 1962 and headquartered in Newport Beach, California, WestDerm is a rapidly growing practice management group focused exclusively on dermatology. WestDerm provides administrative support and a dynamic clinical community for some of the most pre-eminent providers in the Western U.S. offering cosmetic, surgical, and medical dermatology services for many skin conditions, cancer prevention, and remediation.
“We look forward to partnering with Platinum. We’re excited to leverage our combined expertise and market presence to explore new growth opportunities and enhance our service offerings to bring world-class care to more patients,” said Brian Stern, CEO of WestDerm.
WestDerm’s Merger with Platinum marks Edgemont’s sixteenth clinical services transaction in the last three years. Other recent transactions include Blue Sea Capital’s partnership with SIMKO Specialty Dental, the sale of Amazing Dental to Great Expressions, the sale of Michigan Institute of Urology to Solaris Health, the sale of Tennessee Retina to Retina Consultants of America, the growth investment in Mindful Health Solutions by Norwest Venture Partners, the recapitalization of Quigley Eye Specialists by New Harbor Capital, the sale of Arizona Dermatology to West Dermatology, and the sale of Spine Nevada to HopCo. Edgemont is the leading investment banking firm advising independent physician practices and private equity-backed clinical services companies on strategic alternatives, including mergers, acquisitions, sales, and private equity recapitalizations. Edgemont’s Clinical Services group serves practices across a broad range of office-based and hospital specialties, including outpatient mental health services, orthopedics / musculoskeletal care, cardiovascular care, dental, dermatology, ophthalmology, urology, urgent care, primary care, psychiatry, gastroenterology, rheumatology, pain management, women’s health / OB-GYN, and fertility as well as emergency medicine, hospitalist medicine, anesthesiology, and radiology.
About West Dermatology
WestDerm is committed to providing comprehensive dermatology services and education to patients so that they can have longer, healthier lives. Committed to clinical excellence, the providers at WestDerm are world-class experts in skincare, have decades of experience across dermatology, and all the doctors are board-certified. Recognized as the clinical leaders in dermatology in the country, WestDerm continues to expand its footprint and service offerings to best care for the patients in the communities they serve.
Headquartered in Newport Beach, CA the company offers access to medical, cosmetic, and surgical dermatology services in Arizona, California, and Nevada. WestDerm also has an industry-leading research department and a best-in-class dermatopathology lab. WestDerm continues to grow and is always looking to add great providers and top talent to its community of practices. Patients interested in being seen at one of the many WestDerm locations can schedule appointments directly on the WestDerm website at www.westderm.com, where they will find additional information on the WestDerm providers, locations, and the conditions they treat.
About Platinum Dermatology Partners
Headquartered in Dallas, TX, Platinum Dermatology Partners builds true partnerships with highly reputable dermatology practices to empower growth and best-in-class dermatology services. In Platinum’s differentiated, physician-centered practice management model, physicians drive clinical care and their practice culture, while benefiting from the vast business expertise, resources, and shared best practices available through the Platinum network. As a comprehensive physician management services organization, Platinum offers collaboration among top-notch dermatology professionals and practice growth opportunities unmatched in an independent practice. For more information about Platinum Dermatology Partners, please visit www.platinumderm.com.
About Edgemont Partners
Now in its 21st year, Edgemont ranks among the most active and best-performing independent healthcare M&A and financial advisors in the U.S. We focus solely on providing expert strategic advice and transaction execution to healthcare and life sciences companies, bringing a steadfast commitment to our clients, driven always to prioritize their best interests. Edgemont’s principals have executed 185+ transactions with an aggregate value of $80 billion+.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.