Anne Arundel Dermatology Management, a portfolio company of New MainStream Capital, said May 2 that it acquired Montgomery Dermatology Associates LLC. Financial terms weren’t announced. Rockville, Maryland-based Montgomery Dermatology provides general, surgical and cosmetic dermatology services to the Washington D.C. metro area. It will operate under the “Anne Arundel Dermatology” brand name.
Annapolis, MD, May 2, 2016 – Anne Arundel Dermatology Management (“ADM”), a portfolio company of New MainStream Capital (“NMS”), announced today that it has acquired Montgomery Dermatology Associates, LLC. Founded by Dr. Walter J. Giblin, he and his team of physicians have over 40 years of experience in providing general, surgical and cosmetic dermatology services to the Washington D.C. metro area. The practice, located in Rockville, Maryland, will operate under the “Anne Arundel Dermatology” brand name.
“We are excited to expand our footprint into the southern Maryland / Washington D.C. metro area with this acquisition.” said Ed Ponatoski, Chief Executive Officer of ADM. “Dr. Giblin has built a great practice with a tremendous team providing high-quality care and we are delighted to welcome their patients into the Anne Arundel family.”
Dr. Giblin commented, “I am delighted to be joining Anne Arundel Dermatology, an outstanding practice with a great culture of supporting its physicians. My practice and our patients will greatly benefit from being a part of a larger organization with more services and support for our patients.”
Martin Chavez, Managing Partner at NMS, added, “We are excited to have another high-quality practice join Anne Arundel. We are very pleased that we have been able to execute on our stated strategy of supporting the growth of Anne Arundel Dermatology through acquisitions. This transaction expands our presence in Maryland and further solidifies our market leadership in the state.”
With this transaction, ADM has completed its third acquisition since its recapitalization in June 2015.
About Anne Arundel Dermatology
Anne Arundel Dermatology is a leading provider of dermatological services in Maryland. Headquartered in Severna Park, Maryland and with 19 locations and over 35 providers, AAD is the largest dermatology practice in the state providing a comprehensive suite of dermatologic services, offering general dermatology, advanced treatment options for skin cancer and cosmetic procedures.
For additional information on Anne Arundel Dermatology, visit www.aadermatology.com.
About New MainStream Capital
New MainStream Capital is a private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends. NMS has invested across a broad spectrum of industries, with particular concentration on service oriented businesses in the following three sectors: Healthcare Services, Business Services, and Consumer Products and Services.