Platinum Dermatology Partners Welcomes Dallas Associated Dermatologists Into its Network

Top-Tier Dermatology Practice Partners with Platinum to Provide the Highest Quality Patient Care and Form an Alliance to Drive Strategic Growth

DALLAS & FORT WORTH, Texas & CHICAGO--()--Platinum Dermatology Partners, a comprehensive physician management services organization recently formed by private equity firm Sterling Partners, announced today its partnership with Dallas Associated Dermatologists, one of the area’s most established and well-respected practices. By joining Platinum’s network, Dallas Associated Dermatologists will continue to deliver exceptional patient care while it expands its presence through support from Platinum’s resources, management team and access to capital.

“We are thrilled to join Platinum because of what it means for our patients, physicians and employees,” said Dr. Jerald Sklar of Dallas Associated Dermatologists. “For more than 60 years, our practice has provided superior service, as well as attracted the most exceptional physicians and staff. This partnership situates us to rapidly expand throughout Dallas/Fort Worth and other major cities in Texas, growing both organically and by partnering with like-minded physicians, as we continue to provide our patients with the best care, while being backed by a management team and capital partner with years of experience in healthcare services. On behalf of myself and my partners, Dr. Mary Fleischli and Dr. Chris Crawford, we couldn’t be more excited.”

Founded in May 2016 with a firm belief that the best clinical and business outcomes are achieved through partnership and alignment between management and physicians, Platinum Dermatology Partners has designed a model that allows dermatologists to retain practice autonomy and ownership augmented by management support. Dermatologists at Dallas Associated Dermatologists will continue to drive all clinical decisions and remain highly involved in business operations. Platinum also spearheaded the creation of a Clinical Advisory Board that plays an active role in the strategic and operational direction of the overall organization.

Platinum’s leadership team is led by President and Chief Executive Officer Greg DeAtkine. DeAtkine has more than 20 years of experience in physician management services. He most recently served as COO at U.S. Anesthesia Partners, where he was on the founding team that grew the company from a single practice of 450 providers to a network of more than 2,000 providers and 1,000 operations staff.

“By entering the market with Dallas Associated Dermatologists, we very quickly established a strong presence in Dallas/Fort Worth. Through a combination of select acquisitions, a robust recruiting pipeline and de novo offices in development, we expect to expand quickly within North Texas,” said DeAtkine. “We believe dermatology practices want to partner with Platinum because of our physician-centric model, their ability to retain ownership in the business, our deep expertise in physician services, and Sterling’s long history of investing in healthcare services. Specifically, our physician partnership approach offers a meaningful differentiation within the market that has been well-received by the dermatologists we speak with on a regular basis.”

“Given the fragmentation in the dermatology space, the potential for growth is significant, especially as operating independent practices becomes more and more difficult. Complexity in reimbursement driven by alternative reimbursement models, combined with competition from other aggregators entering the space, makes Platinum a very good solution for the small, high-quality dermatology group,” said Garrick Rice, Managing Director at Sterling Partners, which has more than 30 years of experience investing in and growing leading healthcare companies across the nation. “Platinum and its network are joining Sterling’s healthcare services portfolio as another incredible company that is delivering solutions for healthcare providers in a system that continues to become more complex.”

If interested in learning more about a partnership with Platinum Dermatology Partners, contact Michael Pennington, VP of Strategy and Business Development, michael.pennington@platinumderm.com.

About Platinum Dermatology Partners

Headquartered in Dallas, Platinum Dermatology Partners builds true partnerships with highly reputable dermatology practices to empower growth and excellent dermatology services. Through Platinum’s differentiated, physician-centered practice management model, physicians drive clinical care and their practice culture, while benefitting from the business expertise, resources and shared best practices available through the Platinum network. As a comprehensive physician management services organization, Platinum offers collaboration among top-notch dermatology professionals and practice growth opportunities unmatched in an independent practice. Platinum is backed by Sterling Partners, a private equity firm with more than 30 years of experience investing in and growing leading health care services companies across the nation.

About Sterling Partners

Sterling Partners is a private equity firm with a distinct point of view on how to grow great companies. Founded in 1983, Sterling has invested billions of dollars, guided by the company's stated purpose: INSPIRED GROWTH®, which describes Sterling's approach to investing in differentiated businesses and growing them in inspired ways. Sterling focuses on investing growth capital in middle-market companies in the healthcare services and business services industries. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of professionals, including a strong network of outside directors and advisors. The people at Sterling believe in ideas and ideals, in people and in partnerships that drive long-term success. For more information, visit: www.sterlingpartners.com.

Contacts

On behalf of Platinum Dermatology Partners and Sterling Partners
Taylor Trovillion, 312-329-3983
sterling@finnpartners.com

Release Summary

Top-Tier Dermatology Practice Partners with Platinum to Provide the Highest Quality Patient Care and Form an Alliance to Drive Strategic Growth

Contacts

On behalf of Platinum Dermatology Partners and Sterling Partners
Taylor Trovillion, 312-329-3983
sterling@finnpartners.com