Partners Group buys skin treatment company for $1.5bn

OMERS Private Equity today announced that it has signed an agreement to sell its interest in Forefront Dermatology to leading global private markets firm, Partners Group, acting on behalf of its clients.

As part of the transaction, OMERS as well as Forefront’s physicians and executive team will reinvest in Forefront as minority owners. Located throughout the U.S. East, Midwest, Mid-Atlantic, Southwest, Southeast and West, Forefront Dermatology is the largest physician-led single specialty group providing dermatological services in the United States and comprises over 200 dermatology practices.

“Since 2016, OMERS has proudly partnered with Forefront and has been pleased to support the business as it more than doubled the size of its geographic footprint, practice count and clinician base. We knew in 2016 that we were backing a top executive and physician leadership team with a deep ambition for growth, all while continuing to deliver access to best-in-class, patient-centric care,” said Mark Van Wart, Managing Director, OMERS Private Equity.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

“We are thrilled about what we’ve accomplished through our collaboration with Scott Bremen, Dr. Betsy Wernli and the entire Forefront team,” said Michael Graham, Global Head, OMERS Private Equity. “Forefront’s growth through both organic initiatives and acquisitions during our tenure speaks for itself – as does the company’s demonstrated resilience during the COVID-19 pandemic. In addition, through this transaction, we will generate an excellent outcome for more than 525,000 members of the OMERS pension plan,” Mr. Graham added.

With a strong focus on the healthcare segment, OMERS Private Equity’s portfolio of current and past investments in the space includes: Gastro Health, Community Veterinary Partners, CBI Health Group, Paradigm Outcomes, Premise Health, National Veterinary Associates, Accelerated Rehabilitation Centers, and Great Expressions Dental.

“Working together with Mark, Mike and the other members of the OMERS team, we have made great strides in realizing our shared long-term vision for Forefront,” said Scott Bremen, Forefront CEO. “We are excited by today’s news and are looking forward to working just as closely with Partners Group, as Forefront enters this new chapter in its development,” Mr. Bremen added.

“We are appreciative to have worked with OMERS, a partner who so valued our patient-centric focus and consistently supported the advancement of our unique physician culture, while ensuring full physician autonomy at all times,” said Dr. Betsy J. Wernli, President and board-certified dermatologist, Forefront Dermatology.

The transaction is expected to close in early Q2 2022. Further financial terms will not be disclosed. OMERS and Forefront were advised by Harris Williams, Ernst & Young, Sidley Austin and McDermott Will & Emery.

Source: Globe Newswire

Can’t stop reading? Read more