Private equity firm Harvest Partners has acquired a stake in Advanced Dermatology & Cosmetic Surgery, a dermatology practice with more than 140 offices, from Audax Private Equity. Terms of the deal were not disclosed. With the transaction, both Audax and the Advanced Dermatology’s management team retain minority ownership stakes in the company.
According to Harvest Partners, Advanced Dermatology, based in Maitland, Florida, is the largest dermatology practice in the country. The company, which was founded in 1989, also has a billing and coding services business for third-party dermatology practices under the Ameriderm trade name. Advanced Dermatology’s CEO, Dr. Matt Leavitt, and its president and chief operating officer, David Morell, are continuing in their roles following the deal.