Behind the Deal: PGP Advises Contour Dermatology On Acquisition
Physician Growth Partners (PGP) recently announced that it acted as the exclusive financial advisor to Contour Dermatology & Cosmetic Surgery Center (Contour Dermatology) as it was acquired by DermCare Management (DermCare). We spoke with Michael Kroin, CEO and Managing Partner of PGP, who provided his insights into the acquisition. PGP is a sell-side healthcare investment banking firm dedicated to representing independent physician practices in transactions with private equity. Established by Dr. Timothy Jochen in the early 2000s, Contour Dermatology is a leading provider of dermatology services throughout the Coachella Valley. With four clinics in Rancho Mirage, La Quinta, Palm... Read More »
Warburg Pincus Recapitalized MB2 Dental Solutions
On November 13, Warburg Pincus, a private equity firm based in New York City, announced that it recapitalized MB2 Dental Solutions, a dental service organization (DSO) that is based in Carrollton, Texas. Warburg invested $525 million into MB2 Dental. The transaction offered liquidity options to MB2’s doctor at a total enterprise value in excess of $3.5 billion. The seller was Charlesbank Capital Partners, a private equity firm located in Boston, Massachusetts. The company will continue its longstanding partnership with MB2 Dental has partnered with more than 700 general and specialty dental practices across 43 states and has approximately 1,000 physicians under its... Read More »
Cardinal Health Inks Two Deals Worth $3.9 Billion
Cardinal Health announced plans to buy two companies in an aim to expand its diabetes and gastroenterology businesses as part of an overall strategy to grow its footprint in specialty medicine. The Dublin, Ohio-based company announced on November 12 that it entered into definitive agreements to acquire a majority stake in GI Alliance for $2.8 billion. Cardinal Health is acquiring 71% ownership in GI Alliance from a combination of GI Alliance physician owners and funds managed by affiliates of Apollo Global Management. On the same day, Cardinal Health announced that it plans to buy Carlsbad, California-based Advanced Diabetes Supply Group (ADSG) for approximately $1.1 billion in cash.... Read More »
MB2 Dental Enters 43rd State
MB2 Dental Solutions announced that it entered into its 43rd state with the acquisition of Wiemeyer Dentistry and Contemporary Prosthodontics, two separate dental practices that are both owned by Drs. Samuel R. Lee and Andrew S. Wiemeyer. The financial terms were not disclosed. According to its website, Contemporary Prosthodontics’ only physicians on staff are Drs. Lee and Wiemeyer, while Wiemeyer Dentistry has two additional physicians on staff. Both practices are based in Duxbury, Massachusetts. MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners since February 2021, partners with dentists and specialists. Founded in... Read More »
Cencora Picks Up Texas-Based MSO Platform Retina Consultants of America
Cencora, Inc. announced on November 6 that it has entered into a definitive agreement to acquire Retina Consultants of America (RCA) from Webster Equity Partners. Cencora will acquire RCA for approximately $4.6 billion in cash, subject to a customary working capital and net debt adjustment. RCA is a new specialty platform created by the acquisition and merger of Retina Consultants of Houston, Retina Group of Florida, Long Island Vitreoretinal Consultants and Retinal Consultants (Northern California). RCA is a Southlake, Texas-based management services organization (MSO) of retina specialists. Cencora, formerly known as AmerisourceBergen, is an American drug wholesale company and a contract... Read More »Schedule a demo
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