Advanced Dermatology and Cosmetic Surgery (ADCS), a portfolio company of private equity firms Harvest Partners and Audax Private Equity, announced on June 28 the acquisition of Esterson Dermatology in Pikesville, Maryland. The acquisition marks the 160th location for ADCS as it continues to expand nationwide. Terms of the deal were not disclosed.
Esterson Dermatology is a private practice led by Dr. Faith Esterson, a board-certified dermatologist and fellow of the American Academy of Dermatology.
With offices in 14 states, ADCS was founded in 1989 and treats patients for conditions of the skin, hair and nails and offers advanced skin cancer treatments. It also offers non-surgical and surgical cosmetic and anti-aging treatments.
According to the LevinPro HC database, this marks the 260th Physician Medical Group (PMG) transaction of 2022, a 21.5% increase from the same period in 2021 when 214 deals were reported. Of the 260 PMG deals reported this year, 21 were dermatology deals, which is a 75% increase from the same period in 2021 that saw 12 dermatology acquisitions. Private equity has had a large presence in the dermatology sector, as 16 of the 21 deals this year have been done by private equity firms and their portfolio companies.
The Esterson Dermatology acquisition marks ADCS’ third announced acquisition of the year. The company acquired Fort Mill Dermatology in January, followed by Maragh Dermatology in April.
