Dechert Advises as Ridgemont Buys Dermatology Clinics

Dechert advised Charlotte, N.C.-based Ridgemont Equity Partners on its acquisition of Anne Arundel Dermatology Management, a provider of general dermatological services, as well as advanced treatment for skin cancer and cosmetic procedures, the law firm said.

With headquarters in Linthicum Heights, Md., Anne Arundel Dermatology has 181 providers across 74 clinics in Maryland, Virginia, Tennessee, North Carolina, and Pennsylvania, according to a statement. The company said its management team and physician-owners invested alongside Ridgemont in the transaction. No financial terms for the acquisition were disclosed.

The seller, New York-based NMS Capital, whose website still lists Anne Arundel Dermatology as a portfolio company, hasn’t issued a statement about the deal and didn’t immediately respond to requests for comment.

Scott Mahosky, CEO of Anne Arundel Dermatology, said in a statement that his company has experienced “tremendous growth” and, through its new partnership with Ridgemont, plans to increase its presence in its existing markets while also expanding into new states.

Ridgemont principal Dan Harknett said the dermatology sector is large, growing, but “highly fragmented.” “AAD has an excellent group of high quality dermatology providers and a proven management team that is capable of leading a much larger platform,” he said.