Advanced Dermatology & Cosmetic Surgery
  • Business

    Advanced Dermatology & Cosmetic Surgery (“ADCS”) is the largest dermatology practice in the U.S. Founded in 1989 and headquartered in Maitland, FL, ADCS has over 150 locations across 12 states that provide a full range of medical, cosmetic and related laboratory dermatology services. ADCS partners with over 145 physicians that service approximately 1.5 million patient visits annually.

  • Harvest Partners Investment

    In May 2016, Harvest led the recapitalization of Advanced Dermatology & Cosmetic Surgery in partnership with management. To fund the acquisition, Harvest arranged the debt financing, including a revolver, term loan, and senior notes.

  • Investment Thesis

    • #1 player in large, fragmented and growing dermatology services market
    • Diversified platform with limited cyclicality, consistent performance and strong cash flows
    • Sole national consolidator with proven acquisition and de novo strategies
    • Clinician led management team with a track record of success