CHICAGO, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Physician Growth Partners ("PGP") is proud to have advised Arizona Dermatology Group ("ADG") in a transaction with Forefront Dermatology ("Forefront"), a private equity portfolio company of OMERS Private Equity.
Led by Dr. Ray Johnson, ADG has grown to be the leading dermatology practice in Northern Arizona with four locations and a state-of-the-art laboratory. ADG has grown to more than 10 providers and sees over 40,000 patients annually across its four locations in Prescott, Prescott Valley, Scottsdale, and Cottonwood. ADG's services cover the entire range of skin care including medical, cosmetic, and surgical care. This partnership will fuel ADG's growth trajectory enabling it to expand into adjacent geographies and take advantage of the rapid growth in its core market.
Ezra Simons and Robert Aprill of Physician Growth Partners served as the lead transaction advisors to Arizona Dermatology Group while Russell Hilton of Alston and Bird provided legal counsel. Sean Sullivan led the transaction on behalf of Forefront.
Dr. Ray Johnson, Founder of AGD, noted, "We have established the dominant position in a rapidly growing market. We knew how much was left to accomplish and recognized the value in bringing on a strategic partner. We look forward to opening several additional locations and bolstering our current footprint with the support of Forefront. After considering a number of potential partners, it was clear that Forefront had the expertise to support ADG while ensuring we retained our clinical autonomy and decision making at the local level. This transaction would never have been possible without the relentless support and advocacy by Ezra and his team at PGP. They ensured we interviewed several potential partners, had leverage in terms of valuation, and optionality. A process like this is a marathon and there are any number of opportunities for it to take an unexpected turn. The PGP team ensured everything stayed on course and enabled us to cross the finish line."
Ezra Simons, Managing Partner, concluded, "We were excited about the competitive nature of this process which allowed Ray and his team to consider more than 10 partnership options each with a different approach, structure, and strategy. Ultimately Forefront's track record, approach to partnerships, and vision for the Arizona market were the driving factors in the decision. We're excited for Ray in this next chapter as the potential of ADG in the Northern Arizona market is unlimited. We look forward to seeing what Forefront and AZD can build together."
About Physician Growth Partners
Physician Growth Partners is one of the most active national healthcare advisory firms dedicated to representing physician groups in transactions with private equity. For more information, please visit physiciangrowthpartners.com.
For more information about Physician Growth Partners, please contact Ezra Simons at Physician Growth Partners:
Ezra Simons
ESimons@physiciangrowthpartners.com
222 W Ontario St Ste. 315, Chicago, IL 60654
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