Partners Group has agreed to acquire Forefront Dermatology from OMERS Private Equity. No financial terms were disclosed. Based in Manitowoc, Wisconsin, Forefront is a practice management services provider to dermatology clinics. OMERS, which acquired the company in 2016, will reinvest as a minority owner.
Partners Group, a leading global private markets firm, has agreed, on behalf of its clients, to acquire Forefront Dermatology (“Forefront” or “the Company”) from OMERS Private Equity. Forefront’s physician partners and executive team will remain significant shareholders. OMERS Private Equity will also continue to invest in the Company through a minority equity stake.
Founded in 1980 and headquartered in Manitowoc, Wisconsin, Forefront has over 200 dermatology clinics across 22 states. The group practice comprises over 400 board-certified dermatologists, physician assistants, and nurse practitioners. The Company’s mission is to offer patients superior access to world-class, board-certified care within their communities. In support of this, Forefront provides dermatologists with a wide range of central support services to reduce administrative burdens and allow them to focus on their patients. Forefront’s physicians maintain clinical autonomy while remaining connected to an established Physician Board of Directors and board-certified dermatologist partners.
Physicians provide care across all subspecialties of dermatology, from medical and surgical to cosmetic dermatology, all supported by Forefront’s best-in-class dermatopathologists and dermatopathology laboratory.
Partners Group will draw on its extensive experience working with physician partners, multi-site healthcare practices, and executive teams to maintain Forefront’s quality- and outcomes-focused culture, and support its differentiated patient- and physician-centric approach. Key value creation initiatives will include investing in physician leadership and ownership, improving operational excellence, and expanding Forefront’s integrated dermatology ecosystem through investing in its technology, cosmetics service offering, and patient care.
Scott Bremen, Chief Executive Officer, Forefront Dermatology, comments: “Forefront always prioritizes patient care, quality, and outcomes. Our scaled central support services offering provides our board-certified dermatologists with best-in-class functional experts to reduce growing administrative burdens, which allows them to focus on patient care and quality. Partners Group has a track record of success across specialties in healthcare delivery and we feel fortunate to be partnered with a like-minded investor that puts patient care and physician support first.”
Dr. Betsy J. Wernli, President and board-certified dermatologist, Forefront Dermatology, adds: “Our patient- and physician-centric culture, which includes the industry’s largest group of board-certified dermatologists, differentiates our practice through its unique physician-executive leadership structure and an operating model that truly allows us, as dermatologists, to solve every problem we face as practicing physicians daily. We are excited to partner with an investor that values our culture and is eager to support the guiding principles establishing Forefront as the differentiated group practice in dermatology.”
Piotr Biezychudek, Member of Management, Private Equity Health & Life, Partners Group, says: “We are proud to invest in Forefront alongside the Company’s physician partners and executive team. Our highest priority is to maintain Forefront’s unrivaled patient care and its reputation as a top choice for board-certified dermatologists. We are aligned in our goal of attracting and retaining the most respected dermatology specialists and advancing the field of dermatology through the development of a leading clinical research function. We are committed to continuing the long history of putting patients first, supporting dermatologists to minimize administrative constraints, improving clinical care, and driving best-in-class outcomes.”
Ethan Matter, Member of Management, Private Equity Health & Life, Partners Group, adds: “From the start, we were excited about Forefront’s ability to serve a patient’s full spectrum of dermatological care needs due to its geographic reach, comprehensive services, and technology solutions geared toward offering top-quality, convenient, and accessible care. We are looking forward to partnering with Forefront’s talented team, including dermatologists, physician assistants, nurse practitioners, and central service and clinical support staff.”
Ropes & Gray and Deutsche Bank advised Partners Group.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 170 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 127 billion in assets under management as of 31 December 2021, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.