I’m back in New York and it’s business as usual. Some of you are already on spring break. For me, the excitement of the week: running into Cole Sprouse at a breakfast meeting. If you don’t know him as the heartthrob in the American teen drama “Riverdale” — your kids might — he and his identical twin brother also played the cute kid in the 1999 Adam Sandler comedy “Big Daddy.”
In healthcare excitement, here’s your headline of the week: Advent, KKR and EQT are still in the running for Nestle’s several-billion-dollar skin health division, one of the most hotly contested asset sales in Europe this year, according to Bloomberg.
Elsewhere, much of the activity I followed fell within areas the private equity community has already proven eager to invest behind. That’s dermatology and autism treatment.
Let’s begin with derm, one specialty in which investors love to complain about the valuations. To be fair, one source I spoke with this week disagreed, adding that even if derm is pricier than other specialties, that’s justifiable. These models have proved out, unlike emerging areas like gastroenterology, the person noted.
So what’s up for sale? Enhanced Healthcare Partners has tapped a banker to sell West Dermatology, I learned. For financial info and who’s advising, check out my story.
Perhaps the most interesting thing I learned about the company is the value of being associated with someone like Mitchel Goldman, who as West Dermatology’s medical director is known for his ability to recruit doctors and dermatology groups to the platform, one source said.
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