Gryphon Investors has made a majority investment in Water’s Edge Dermatology. Terms of the transaction were not disclosed.
Gryphon Investors is a San Francisco-based middle market private equity firm. A leading provider of comprehensive dermatology services in over 30 locations in Florida, the Water’s Edge management team has retained a significant ownership position in the company.
“Since founding Water’s Edge 20 years ago, we have built a dermatology practice that values putting patients first, creating a supportive medical environment for physicians, physician assistants, nurse practitioners, and other care professionals, providing a positive workplace with opportunities for growth for all our employees, and treating our vendor partners with mutual respect,” said Ted Schiff, MD, Founder of Water’s Edge. “We felt the time was right to seek a partner that shares these values and that can help us take our special brand of skincare to the next level to reach even more patients. We could not be more pleased and excited that Gryphon is the partner that will help move us forward together.”
Water’s Edge is a leader in comprehensive general and cosmetic dermatology, vein health, Mohs surgery, and radiation oncology services. More than 400 clinical experts and administrative staff provide medical, surgical, and cosmetic dermatology, dermatopathology, and skincare services to patients with skin diseases, acne, sun damage, skin cancer, and vein health issues, as well as to those seeking cosmetic and plastic surgery.
“At Gryphon, we see growing demand for dermatological services, powered by a rapidly aging population, increasing rates of skin cancer, and rising interest in cosmetic services,” said Gryphon Principal Luke Schroeder. “Thanks to its commitment to providing high quality clinical care in convenient locations with a focus on outstanding customer service, Water’s Edge is uniquely positioned to use the favorable dynamics in the overall dermatology sector to lead on an even broader scale.”
“We plan to accelerate growth by building upon everything that makes Water’s Edge Dermatology so successful to begin with – a team of highly trained and certified experts delivering the kind of comprehensive patient care that produces optimal outcomes,” said Kevin Blank, Partner and General Manager at Gryphon. “The Company will also be the destination for other dermatologists and supporting clinicians seeking a place to practice quality medicine within a premiere system of care that seamlessly handles the increasingly complex and demanding operational, technological, financial, and regulatory requirements of managing physician offices.”