AAD Dermatology Management, which is backed by New MainStream Capital, has acquired Dr. M. Eugene Tudino’s Towson, Maryland-based dermatology practice. Dr. Tudino’s practice will be rebranded as Anne Arundel Dermatology. Also, Opus Bank has provided a credit facility to ADM. No financial terms were disclosed for either transaction.
Annapolis, MD, September 22, 2015 – AAD Dermatology Management (“ADM”), a portfolio company of New MainStream Capital (“NMS”), announced today that it has acquired the practice of M. Eugene Tudino, MD. Based in Towson, MD (a northern suburb of Baltimore), Dr. Tudino has practiced in the Baltimore market for more than 60 years providing a range of dermatological services including general dermatology and cosmetic procedures. Dr. Tudino’s practice will operate under the “Anne Arundel Dermatology” (“AAD”) name, with AAD growing the team of dermatology professionals providing care to the North Baltimore market.
“We are excited to expand our leadership position in Maryland with this acquisition,” said Ed Ponatoski, Chief Executive Officer of ADM. “Dr. Tudino has built a great practice and we are delighted to welcome his patients into the Anne Arundel family.”
Dr. Tudino commented, “I am very happy to become part of Anne Arundel Dermatology, an excellent practice comprised of over 30 of the best clinicians in Maryland, some of whom I have known personally for more than half of my career. I could not be more pleased with this transaction.”
Martin Chavez, Managing Partner at NMS, added, “We are very pleased to close on the first add-on acquisition following our June 2015 investment in ADM, executing on our stated goal of supporting the growth of Anne Arundel Dermatology through acquisitions. This transaction strengthens our presence in the North Baltimore area and further builds on our market leadership in the state.”
ADM also announced that it has established a credit facility with Opus Bank to support the Company’s growth plans. Mr. Chavez continued, “The partnership with Opus will enhance our ability to execute on the Company’s strategy of expanding throughout the Mid-Atlantic region via both acquisitions and the opening of new locations.”
About Anne Arundel Dermatology
Anne Arundel Dermatology is a leading provider of dermatological services in Maryland. Headquartered in Severna Park, Maryland and with 17 locations and over 30 providers, AAD is the largest dermatology practice in the state 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 the Company’s website at www.aadermatology.com.
About New MainStream Capital
New MainStream Capital is a private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends. NMS has invested across a broad spectrum of industries, with particular concentration on service oriented businesses in the following three sectors: Healthcare Services, Business Services, and Consumer Products and Services.
For additional information on NMS, visit the firm’s website at www.nms-capital.com.