Healthcare investor Chicago Pacific Founders has acquired Pinnacle Dermatology, a multi-center dermatology practice. Chicago Pacific was launched in 2014 and closed its debut fund at its $325 million hard cap in July 2016.
Pinnacle Dermatology provides a suite of dermatology and cosmetic services including care for conditions like psoriasis, dermatitis, acne, and eczema, and provides services for the early detection and treatment for skin cancers. The company also provides pathology lab services. Pinnacle was founded in 2004 by Dr. Jose Rios and Dr. Paula Lapinski and is headquartered near Chicago in Joliet, IL (www.dpsamed.com).
Dr. Rios graduated from Princeton University before obtaining his medical degree with honors from New York University School of Medicine. He is currently board-certified in plastic surgery, and is actively involved in a number of industry professional societies. Dr. Lapinski earned her undergraduate degree from The University of Notre Dame, graduating with Honors as a member of Phi Beta Kappa. She went on to attend Northwestern University School of Medicine. Her interest in patients with skin cancer led her to complete additional training in the area of Mohs micrographic surgery (Mohs micrographic surgery involves removing a skin cancer one layer at a time and examining these layers under a microscope immediately after they are removed).
“We are excited to be working with the founders of Pinnacle Dermatology and their highly regarded team. Together we look forward to building the premier dermatology practice in the country centered around improved patient care and outcomes,” said Mary Tolan, CPF Co-founder and Managing Partner. “To support Pinnacle, we have committed additional resources and capital to accelerate Pinnacle’s growth strategy and further fund geographic expansion through acquisitions and organic growth.”
“We are thrilled to partner with the extremely experienced and talented team at Pinnacle,” said CPF Partner Krista Hatcher. “Our partnership is based on a shared passion to expand Pinnacle’s geographic reach to meet a growing need, especially given the increasing prevalence of skin cancer and demand from the aging population.”
Chicago Pacific invests up to $75 million of equity capital per opportunity in growth, minority recap and buyout transactions for cash flow positive businesses. In addition to Pinnacle Dermatology, the firm has three other portfolio companies: CPF Living Communities, an operator of senior living communities (www.gracemanagement.com); Marquee Dental Partners, a provider of dental practice management services (www.marqueedentalpartners.com); and Recovery Ways, an operator of addiction recovery centers (www.recoveryways.com). Chicago Pacific Founders is headquartered in Chicago with an additional office in San Francisco (www.cpfounders.com).
“Chicago Pacific is uniquely positioned to support our expansion due to its experience with provider-based businesses, deep operating and transaction expertise, extensive healthcare relationships, and a proven track record of building healthcare service businesses,” said Dr. Rios.
© 2017 Private Equity Professional | March 10, 2017
