Annapolis, MD and New York, NY, June 8, 2015 – New MainStream Capital (“NMS”), announced today that, in partnership with Dr. Angela Peterman and Dr. Richard Pfau, it has formed AAD Dermatology Management, LLC (“ADM”) to provide practice management services to Anne Arundel Dermatology, P.A. (“AAD”). In connection with the transaction, NMS will invest in ADM alongside management, and provide additional capital to further support AAD’s future growth through de novo office openings and acquisitions.
Led by Dr. Peterman and Dr. Pfau and Chief Executive Officer Ed Ponatoski, AAD has grown to become the largest dermatology provider in Maryland providing a comprehensive offering of dermatological services through 16 locations – 11 clinics, four surgery sites and a centralized dermatological lab – and more than 30 providers.
“NMS represents a strong capital and strategic partner for ADM given its knowledge of the dermatology industry, healthcare experience and, most importantly, its partnership approach,” said Ed Ponatoski. “Partnering with NMS presents an exciting opportunity for AAD and its employees to work with an experienced investment firm to build a leading dermatology practice. I believe NMS’ experience with other similar sized and positioned healthcare businesses will allow AAD to achieve tremendous growth both organically and through acquisition.”
ADM will be based in Severna Park, Maryland, and will provide practice management services to AAD and growth capital and managerial infrastructure to facilitate an organic and acquisition growth plan.
Martin E. Chavez, NMS Managing Partner remarked, “We are thrilled to be partnering with Dr. Peterman, Dr. Pfau, Ed Ponatoski and their team to build upon what is already the leading dermatology platform in Maryland. NMS has a history of successfully partnering with physician practice groups and accelerating growth. The key to our success has been selecting the right management team and partners. We have evaluated numerous dermatology specialty groups and believe AAD’s founders and management team have built a truly outstanding company.”
Coker Capital served as lead financial advisor to AAD and McGuireWoods served as legal advisor to the Company. Greenberg Traurig provided legal advice to NMS.