AQUA Dermatology Adds Alabama's Surgical Dermatology Group and Atlanta's Skin Cancer Specialists

2023-03-06

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Two New Surgical Practices Further Expand AQUA's Southeast Presence

PALM BEACH GARDENS, Fla., March 6, 2023 /PRNewswire/ -- AQUA Dermatology ("AQUA" or "the Company") announced today that it has partnered with Surgical Dermatology Group ("SDG"), based in Vestavia Hills, Alabama, and Skin Cancer Specialists, P.C. ("SCS") of Marietta, Georgia. AQUA, a leading provider of comprehensive dermatology services throughout Florida, is backed by leading private equity firms Gryphon Investors and GTCR. Both practices will continue to operate under their existing names. Financial terms of the transactions were not disclosed.

AQUA, with over 100 locations and more than 200 providers, was formed in 2021 through the merger of Water's Edge Dermatology and Riverchase Dermatology. The Company rebranded as AQUA in April 2022.

Dr. Ted Schiff, AQUA's Chief Medical Officer, said, "One of our primary goals is to expand patient access to both general and specialized dermatologic care. Adding experienced practitioners with skills in a variety of surgical and cosmetic treatments will help us address the needs of more people and cement AQUA's position as the premier provider of skin care services in the Southeast."

Surgical Dermatology Group is a multi-service surgical and dermatologic practice with nine locations throughout Alabama. Founded in 2009 by Christopher Harmon, M.D., the practice is now co-led by Dr. Harmon and Dr. Jonathan Cappel, both of whom will join AQUA. Surgical Dermatology Group offers a Micrographic Surgery and Cutaneous Oncology fellowship as well as a Cosmetic Dermatology fellowship program.

Skin Cancer Specialists was founded in 2003 by Drs. Mark A. Chastain, M.D. and Jennifer L. Buckley, M.D., M.P.H., who will both remain with the practice. A premier, multi-service dermatology practice with six locations throughout metro Atlanta and surrounding communities, the group offers comprehensive treatment for skin cancer, general and cosmetic dermatology and is equipped with a pathology laboratory and full-service aesthetic and laser center staffed by fully licensed cosmetologists and aestheticians.

"As AQUA seeks to become the Southeast's premier dermatology provider, we are actively looking for the right partners, and the additions of SDG and SCS are a major step towards this goal," said Larry Kraska, CEO of AQUA. "We are pleased to welcome Dr. Harmon, Dr. Cappel, Dr. Chastain, Dr. Buckley and all other providers and staff to the AQUA team, and we look forward to their ongoing commitment to providing the highest quality patient care."

"We are delighted to be joining AQUA," said Drs. Harmon and Cappel. "Delivering the highest possible standard of care to our patients is very important to us, and we are gratified by the opportunity to partner with a leading brand that shares our expectations and goals."

Drs. Chastain and Buckley added, "It is deeply exciting to become part of a growing network of like-minded practitioners that will offer our patients the enhanced resources that will improve their care options. We look forward to being part of the AQUA team."

About AQUA Dermatology

AQUA Dermatology, headquartered in Palm Beach Gardens, Florida, is among the largest and most comprehensive full-service skin care provider in the Southeast, offering Medical, Surgical and Cosmetic Dermatology. For more than 20 years, the company has treated patients of all ages suffering from skin diseases, acne, sun damage, skin cancer, vein health issues, as well as those seeking cosmetic and plastic surgery. AQUA has over 100 locations in Alabama, Florida, and Georgia and over 200 of the top clinicians in the field.

About Gryphon Investors

Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. As of December 31, 2021, the firm has over $9 billion of assets under management. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon's capital, specialized professional resources, and operational expertise.

About GTCR

Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages over $24 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

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SOURCE AQUA Dermatology