QualDerm Partners LLC (“QDP”), a dermatology services company, announced today it has raised $31.8 million in growth equity funding from Apple Tree Partners (“ATP”) and Cressey & Company (“Cressey”). The financing will enable QualDerm to strengthen its comprehensive physician support services and accelerate expansion through partnerships with leading dermatology practices.
Headquartered in Brentwood, TN, QualDerm provides physician support services through partnerships with best-in-class dermatology practices in the southeastern U.S. The company provides leadership, growth resources and management services to skin surgeons, pediatric and general dermatologists and mid-level providers to alleviate the burden of the day- to-day administrative demands of running a business.
“Our investment in QDP aligns with ATP’s commitment to partner with exceptional management teams and build leading healthcare companies,” said Diane Daych, Partner of Apple Tree Partners, who joined QualDerm’s Board of Directors. “With extensive experience building and operating multi-site provider businesses and deep knowledge in effective practice management strategy, ATP looks forward to supporting QDP’s growth.”
“Cressey & Company is excited to have additional resources from ATP to support the continued professional success and clinical excellence of our existing partnership with QDP,” said David Schuppan, Cressey Partner and QDP Board member.
Under the leadership of Bill Southwick, CEO, QualDerm partners with physicians to create high functioning teams through shared culture, shared services and shared decision making. QualDerm is dedicated to expanding patient access to high-quality care in secondary markets as well as other underserved areas, where the nationwide dearth of dermatologists is particularly problematic.
“We are pleased to partner with our investors, who bring significant experience building healthcare companies and adding operational value. This investment will facilitate QDP’s mission to provide management, growth and strategic services that enable high-quality dermatology care while preserving physician autonomy in true partnership fashion,” said Southwick.
The company’s practice affiliates include The Skin Surgery Center, a full-service, multi-site specialty group based in North Carolina, led by distinguished physicians Drs. Barry Leshin and John Albertini. “As the platform practice for QDP, we have been truly gratified by the sophistication and expertise of our management team and anticipate that ATP’s investment in both capital and strategic vision will synergize with Cressey in a way that adds tremendous value as we expand our mission to provide high-quality dermatologic care to the region and beyond.”
About Apple Tree Partners
Apple Tree Partners (ATP) is a venture capital firm that invests in pharmaceuticals, biotech, medtech, and healthcare services. Founded in 1999, with a history of well-known successes, ATP closed its current capital pool of $1.5 billion in 2012 and is actively funding healthcare innovation. ATP starts companies, or invests in existing companies, with commitments as high as $250 million. The firm is headquartered in New York City, with satellite offices in Princeton, NJ, Cambridge, MA, and Los Altos, CA. For more information, please visit: www.appletreepartners.com.
About Cressey & Company
Based in Chicago, IL and Nashville, TN, Cressey & Company is a private investment firm focused on building leading healthcare provider, service and information technology businesses. With a history spanning nearly 35 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. More information about Cressey & Company is available at www.cresseyco.com.
Based in Brentwood, TN, QualDerm Partners provides strategic leadership and practice management services for dermatologists and skin care professionals. The company strives to be the partner of choice for premier, patient-centric dermatology practices throughout the southeast.