CHICAGO, IL, June 1, 2022 – Sheridan Capital Partners (“Sheridan”) is pleased to announce the sale of Dermatologists of Central States (“DOCS” or the “the Company”) to SkyKnight Capital (“SkyKnight”). Headquartered in Cincinnati and with a presence in seven states, DOCS is differentiated provider of management services to dermatology practices in the Midwest and Southeast United States.
“I want to thank Sheridan for their knowledge and support in building a scaled patient-centric organization,” said John Macke, Chief Executive Officer of DOCS. “We are proud of the culture and reputation we established and are excited to replicate our model and philosophy throughout the country during our next phase of growth.”
During Sheridan’s ownership, DOCS scaled from 18 locations in Ohio and 41 providers to over 80 locations and 190 providers nationally.
“The entire corporate team and the physicians have been exceptional partners," said Jonathan Lewis of Sheridan Capital Partners. “From the outset, we aligned in our focus on patient care and serving our providers.”
Sean Dempsey of Sheridan Capital Partners added, “John and the entire team at DOCS have built a tremendous company whose clinical reputation enabled us to grow from a single state to one of the largest dermatology group practices in the US.”
McGuireWoods LLP served as legal advisor to Sheridan. Harris Williams served as exclusive financial advisor to the Company. Holland & Knight LLP served as legal advisor to SkyKnight. Antares Capital LP led the debt syndication for the transaction.
The transaction was led by Jonathan Lewis, Sean Dempsey, Christopher McCrory, and Matthew Meyers at Sheridan Capital Partners. Terms of the transaction were not disclosed.
Dermatologists of Central States is an established provider of dermatological services in Ohio, and a service provider to dermatology practices in Illinois, Indiana, Michigan, North Carolina, Ohio, Pennsylvania, and West Virginia. Headquartered in Cincinnati, Ohio and with over 80 locations and over 190 providers, DOCS is one of the largest dermatology-focused service organizations in the U.S. providing a comprehensive suite of services to support dermatological medical practices.
Sheridan Capital Partners is a Chicago-based healthcare private equity firm that focuses on lower middle market buyouts and growth equity in the U.S. and Canada. Sheridan partners with companies in the verticals of providers and provider services, healthcare IT and outsourced services, and consumer health and medical products, bringing strategic resources to accelerate growth, build enduring value, and achieve strong results.