Press Release – Charlotte, NC – August 2016
Bundy Group, a boutique investment bank with offices in Charlotte, North Carolina and Roanoke, Virginia is pleased to announce the sale of Capital Dermatology (“Capital Dermatology” or the “Company”) to Advanced Dermatology and Cosmetic Surgery (“ADCS”). Based in the Washington D.C. metropolitan area, Capital Dermatology has a team of physicians focused on providing the highest level of dermatological care for their patients. Dr. Matt Leavitt, Founder and CEO of ADCS, said, Dr. Bruce Glassman, former owner of Capital Dermatology, “is a talented and nationally distinguished dermatologist. Along with his team of Dr. Morgana Colombo, Dr. Teresa Nasabzadeh, Dr. Marvin Chadab and David Kon, PA-C they have incredible knowledge of dermatology and are on the leading edge of treatments and technology.” “This acquisition continues to expand our national presence and but more importantly our commitment to providing patient access in the densely populated Mid-Atlantic market,” said Dave Morell, President & COO of ADCS.
The purpose of the sale was to obtain liquidity for the Capital Dermatology shareholders and to provide the physicians and staff with a partner that would support the Company in its continued commitment to patients. Bundy Group served as exclusive advisor to ADCS in the acquisition of Capital Dermatology.
ADCS, founded in 1989 by Dr. Matt Leavitt, is a dermatology-focused practice with over 157 clinics in Arizona, Colorado, Florida, Georgia, Maryland, Michigan, Nevada, Ohio, Pennsylvania, South Carolina, Virginia and Wyoming providing clinical, cosmetic, surgical and pathology services. ADCS also provides billing and coding management services for almost 90 third-party dermatology practices across the nation under the Ameriderm™ trade name.
About Capital Dermatology
Located in Alexandria, Virginia, Capital Dermatology, was founded by Bruce Glassman, M.D. Dr. Glassman has published articles in the Archives of Dermatology and presented research at national meetings. He is a board certified diplomat of the American Academy of Dermatology and is an Assistant Professor of Dermatology at George Washington Hospital. Dr. Glassman is the founding member of Capital Dermatology and has been practicing in the Alexandria medical community since 1994. Dr. Glassman built a team of dermatologists that was focused on providing quality patient services to the Washington, D.C. region.
About Bundy Group
Bundy Group is a boutique investment bank with offices in Roanoke, Virginia and Charlotte, North Carolina. The company specializes in representing business owners and management teams in business sales, acquisitions and capital raises. The 25-year old firm has closed over 200 transactions across a broad range of industries. Bundy Group has been an active advisor and educational presenter to the Dermatology community on exit planning and business sales topics.