Fengate-backed GraceMed bags Canadian Dermatology Centre

• GraceMed is a consolidator in the plastic surgery, dermatology, and medical aesthetics industry
• The acquisition of Canadian Dermatology Centre is part of the company’s strategy to expand its presence across North America
• Fengate acquired a minority stake in GraceMed in 2021

GraceMed, a portfolio company of Fengate Private Equity, has acquired Canadian Dermatology Centre, a Toronto-based dermatology, plastic surgery, medical spa and skin care company. No financial terms were disclosed.

GraceMed is a Toronto-based consolidator in the plastic surgery, dermatology, and medical aesthetics industry.

The acquisition of Canadian Dermatology Centre is part of GraceMed’s strategy to expand its presence across North America, the company said in a statement. It will also be able to offer patients access to a broader range of medical aesthetic specialties and treatments, dermatology and plastic surgery.

“This acquisition represents our ongoing commitment to expanding our reach and providing more patients with access to the highest quality treatments available,” said Dr Doug Grace, founder and chief medical officer of GraceMed, in a statement.

Fengate, on behalf of LiUNA Pension Fund of Central and Eastern Canada, acquired a minority interest in GraceMed in 2021.

Fengate Private Equity is the private equity investment arm of Fengate Asset Management. The Toronto-based firm invests in mid-market opportunities across the business services, healthcare, information and technology sectors.