Anne Arundel Dermatology Management, a portfolio company of NMS Capital, has acquired Laser Skin & Vein Center of Virginia, a provider of cosmetic dermatology patient care. No financial terms were disclosed.
Correction: An earlier version of this news report misstated that NMS Capital was a portfolio company of Anne Arundel Dermatology Management. The information has since been corrected.
Linthicum Heights, MD, May 2019 – Anne Arundel Dermatology Management (“ADM” or the “Company”), a portfolio company of NMS Capital (“NMS”), announced today that it has partnered with Laser Skin & Vein Center of Virginia, P.C. (“LSVC”). Founded in 1983 and led by Dr. David McDaniel, LSVC serves its patients from one location in Virginia Beach, Virginia and has been providing cosmetic dermatology patient care for over 35 years. Dr. David McDaniel will continue to lead LSVC and will now benefit from the administrative support provided by ADM.
“LSVC is a great practice located in the Virginia Beach area. This is our second practice affiliation in the Virginia Beach / Norfolk area in less than a year and we think it’s an underserved market with a significant growth opportunity. Dr. David McDaniel is a fantastic clinician with a great reputation for his work in the field of cosmetic dermatology and research. We view cosmetic dermatology as a significant growth area for the broader ADM platform and are excited about the opportunity to leverage LSVC and our other cosmetic practices expertise across the entire platform,” said Scott Mahosky, Chief Executive Officer of ADM.
Dr. David McDaniel commented, “I am thrilled for my practice to be a part of ADM, a dermatology platform at the center of what is transpiring in the broader physician practice and dermatology market. ADM is an exceptional dermatology group practice with a focus on putting clinical quality and patient care first and truly taking a partnership approach with its physicians and that is what made the difference for me in selecting a future partner.”
David Peterson, Managing Director at NMS, added, “LSVC is a tremendous cosmetic practice and we are excited to have Dr. McDaniel and his team join the ADM family. We are very pleased that within less than a year we were able to enter the Virginia Beach / Norfolk area and partner with two of the premier dermatology groups in the region, extending ADM’s Mid-Atlantic presence. This is ADM’s sixteenth affiliation since partnering with NMS in 2015, successfully executing on its strategy to grow its core markets and realizing the benefits of density in continuous geographies.”
With the addition of LSVC, ADM now provides support services to 49 clinic locations across three states and over 125 providers. As part of the affiliation, LSVC will benefit from ADM’s extensive administrative and support services, including investments in information technology and electronic medical records, revenue cycle management, payer credentialing and contracting, compliance and reporting, human resources, business development and finance.
About Anne Arundel Dermatology
Anne Arundel Dermatology is a leading provider of dermatological services in Maryland, Virginia and Tennessee. Headquartered in Linthicum Heights, Maryland and with 49 locations and over 125 providers, ADM is the largest dermatology practice in the state of Maryland 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 NMS Capital
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The Firm was formed through the spin-out of a group of portfolio companies from the Goldman Sachs Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Healthcare Services and Specialized Business Services. For additional information on NMS, visit www.nms-capital.com.