Anne Arundel Dermatology Management, a portfolio company of New MainStream Capital, has acquired the dermatology practice of Drs. Jaffe, O’Neill and Lindgren, P.A, a provider of services for the Bethesda, MD and Washington, D.C. area. No financial terms were disclosed.
Annapolis, MD, March 2017 – Anne Arundel Dermatology Management (“ADM”), a portfolio company of New MainStream Capital (“NMS”), announced today that it has partnered with the practice of Drs. Jaffe, O’Neill and Lindgren, P.A. (“JOL”). JOL has been providing outstanding patient care in general, surgical and cosmetic dermatology services to the Bethesda, MD and Washington, D.C. area for over twenty years. Drs. Jaffe, O’Neill and Lindgren will continue to lead the Bethesda location and will now benefit from the administrative support provided by Anne Arundel Dermatology Management.
“We are excited to expand our presence and resources in the Bethesda and Washington, D.C. markets,” said Ed Ponatoski, Chief Executive Officer of ADM. “Drs. Jaffe, O’Neill and Lindgren have built a phenomenal practice with a tremendous clinical and support team providing high-quality patient care for over 20 years.”
Dr. Mark Jaffe commented, “We are excited to be joining Anne Arundel Dermatology, an outstanding practice with a great culture of supporting its physicians. Our practice and our patients will benefit tremendously from the commitment of Anne Arundel Dermatology to support our future growth and expansion plans.”
David Peterson, Principal at NMS, added, “We are very pleased to add another high-quality practice to Anne Arundel. This transaction continues our expansion in Maryland and further builds upon our market leadership in the Mid-Atlantic region. With this transaction, ADM now has 26 locations and nearly 60 physicians.”
As part of the affiliation, JOL 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 and Virginia.
Headquartered in Severna Park, Maryland and with 26 locations and nearly 60 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 New MainStream Capital
New MainStream 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 spinout 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.