Anne Arundel Dermatology Management, a portfolio company of NMS Capital, has acquired Washington Dermatology Center, a provider of general and cosmetic dermatology patient care in Maryland. No financial terms were disclosed. Dr. Ronald Prussick will continue to lead WDC.
PRESS RELEASE
Linthicum Heights, MD, July 31, 2020 – Anne Arundel Dermatology Management (“ADM” or the “Company”), a portfolio company of NMS Capital (“NMS”), announced today that it has partnered with Ronald Prussick, M.D., P.C., dba Washington Dermatology Center (“WDC”). Founded in 2005 and led by Dr. Ronald Prussick, WDC serves its patients from multiple locations in Rockville, Maryland and Frederick, Maryland and has been providing general and cosmetic dermatology patient care for over 15 years. Dr. Ronald Prussick will continue to lead WDC and will now benefit from the administrative support provided by ADM.
“Dr. Prussick has built a tremendous practice over the years and really established himself as a leading provider of acute and complex dermatology procedures in the Maryland market. This is our second partnership in as many months and given all that has transpired in the broader market due to Covid-19, we are very proud of continuing to execute on our stated strategy of partnering with high-quality dermatology practices in existing and new markets. We view cosmetic dermatology as a significant growth driver going forward and we are excited to bring another high-quality dermatology group practice into the ADM platform. We have several other partnership opportunities in existing and new markets that we expect to close over the remainder of the year,” said Scott Mahosky, Chief Executive Officer of ADM.
With the addition of WDC, ADM now provides support services to over 70 clinic locations across four states and over 160 providers. As part of the affiliation, WDC 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, Tennessee, and North Carolina. Headquartered in Linthicum Heights, Maryland and with over 70 locations and over 160 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.
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