Q2-2019 Dermatology Update
Transaction volume within dermatology was once again driven by robust add-on acquisition activity as another quarter closed with a plethora of strategic acquisitions. Scarcity of sizable groups with which to invest, paired with an abundance of private-equity backed organizations competing for deals has contributed greatly to a landscape dominated by strategic consolidation activity. One notable and unique transaction completed in the second quarter was that of Rush University Medical Center’s (RUMC) investment in private equity-backed Pinnacle Dermatology. In acquiring a minority stake in the sponsor-backed dermatology platform, RUMC is one of the first hospital systems to transact with a private equity firm within the dermatology sector. Provident expects more and more private equity firms to take on further outside investment and/or exit to the next echelon of financial and strategic acquirers.
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