Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on investing in market-leading companies, today announced that its affiliate has completed the acquisition of West Dermatology (“West” or “the Company”), a leading, clinical, cosmetic and research dermatology platform with 55+ clinic locations throughout Arizona, California and Nevada. Terms of the private transaction were not disclosed.
Founded in 1962 and headquartered in Newport Beach, Calif., West Dermatology is a rapidly growing practice management group focused exclusively on clinical research, medical dermatology services, and cosmetic dermatology. The Company offers more than 800,000 annual patients cosmetic and clinical expertise and continued care for common skin conditions, cancer prevention and remediation, elective cosmetic procedures as well as critical, specialty services such as dermatopathology, innovative research trials and Mohs microsurgery.
West Dermatology boasts a strong foundation in the healthcare community, including maintaining long-term membership and leadership participation with the American Academy of Dermatology, Skin Cancer Foundation, American College of Mohs Surgery, American Society for Dermatologic Surgery, and the American Academy of Allergy, Asthma and Immunology.
“Dermatology is a recession-resistant and growing industry within the broader retail health landscape, and West is a premier player poised to grow further in partnership with Sun Capital” said Marc Leder, Co-Chief Executive Officer of Sun Capital. “We are excited to begin working with CEO Chris Kane and his team and look forward to growing West organically and through continued best-in-class add-on acquisitions.”
West Dermatology has executed 22 acquisitions since 2016 and has recorded sustained multi-year organic growth at more than twice the industry rate as a portfolio company of Enhanced Healthcare Partners.
“Having undergone significant growth over the past five years, West is now at a point where we are prepared to leverage our core competencies to grow in partnership with Sun Capital,” said Kane. “We’re confident Sun Capital’s proven expertise will help us to enhance operations, and better fulfill our mission of serving each of our patients to the best of our ability, every day.”
“West is a true strategic platform that benefits from a carefully assembled portfolio of best-in-class providers, a strong management team prepared to execute an ambitious growth strategy, great strategic payor relationships, and a deep bench of clinical and cosmetic dermatologists recognized as true thought leaders,” added Daniel Florian, Managing Director at Sun Capital Partners. “With support from Sun Capital, West will accelerate its disciplined growth strategy and will further build on the Company’s legacy of excellence.”
For more information, please contact:
Emily Meringolo
Stanton
646-502-3559
emeringolo@StantonPRM.com
