NMS Capital-backed Anne Arundel Dermatology Management partnered with four groups in North Carolina: Southern Dermatology; Azalea Skin Treatment Center; Raleigh Dermatology Associates, and Skin Solutions; and Audrey F. Echt. The four practices have four locations and about 20 provides serving the Raleigh, North Carolina market. With the addition of the four practices, Anne Arundel Dermatology supports 55 clinic locations across four states and more than 150 providers.
Anne Arundel Dermatology Management (“ADM” or the “Company”), a portfolio company of NMS Capital (“NMS”), announced today that it has partnered with four groups in North Carolina; Southern Dermatology, P.A., (“Southern”), Azalea Skin Treatment Center, P.A., (“Azalea”), Raleigh Dermatology Associates, P.A., and Skin Solutions, Inc. (“Raleigh”), and Audrey F. Echt, M.D., P.A. (“Echt”). Collectively, the four practices have four locations and nearly twenty providers serving the Raleigh, NC market.
“We are very excited about bringing these four, high-caliber practices into the ADM family and we couldn’t be happier with the group of physicians we have partnered with. These four groups create a great entry point into the North Carolina market which presents a significant growth opportunity for the broader platform. We believe the market in North Carolina is very attractive for further partnerships and affiliations in the future,” said Scott Mahosky, Chief Executive Officer of ADM.
David Peterson, Managing Director at NMS, added, “We are very pleased to be partnering with four of the premier dermatology groups in North Carolina. The addition of these four groups in the greater Raleigh market is a very logical extension for ADM given its existing presence in the Mid-Atlantic and Tennessee. North Carolina has not seen the type of consolidation in dermatology as other markets, and we view that as an opportunity to grow meaningfully by partnering with high-quality groups. The addition of these four groups brings ADM’s total number of affiliations to twenty since partnering with NMS in 2015, successfully executing on ADM’s strategy to grow in its core markets and realizing the benefits of density in contiguous geographies.”
With the addition of these four group practices, ADM now provides support services to 55 clinic locations across four states and over 150 providers. As part of the affiliation, the four groups 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 55 locations and over 150 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.