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Ridgemont acquires AAD
Posted on Tuesday, 20 October 2020 14:38
Ridgemont Equity Partners has snapped up US-based Anne Arundel Dermatology Management (AAD), a provider of medical, surgical and cosmetic dermatological services.

Financial terms were not disclosed.

The target’s management team and physician-owners invested alongside Ridgemont in the transaction.

AAD claims to be one of the largest dermatology practices in the mid-Atlantic and southeastern US.

The group has 181 employees, operates 74 clinics across Maryland, Virginia, Tennessee and North Carolina, among other locations, and is planning to expand into new geographic markets.

AAD offers a range of services, including advanced treatments for skin cancer and cosmetic procedures.

Dan Harknett, principal at Ridgemont, said: “Dermatology is a large and growing sector that remains highly fragmented.

“AAD has an excellent group of high quality dermatology providers and a proven management team that is capable of leading a much larger platform – we are excited to support this team and share the next step in the company’s continued growth.”

Scott Mahosky, the target’s chief executive, noted: “We look forward to partnering with Ridgemont to continue these efforts while increasing our presence in existing markets and expanding into new states.”

The transaction will represent another addition to the buyer’s healthcare portfolio, which includes the likes of AMN Healthcare, Allied 100 and HemaSource.

According to Zephyr, the M&A database published by Bureau van Dijk, there have been 95 deals targeting offices of physicians announced worldwide in 2020 to date, compared to the 174 transactions signed off for the corresponding period of 2019.

In the largest of these, BGH Capital agreed to buy Healius’ Australia-based primary care business for AUD 470.00 million (USD 333.13 million).

This was followed by North American Partners in Anesthesia, via NMSC II, snapping up American Anesthesiology for USD 300.00 million.

Other companies targeted in this sector so far this year include Acessa Health, Brightline and Vera Whole Health.

© Zephus Ltd