AQUA Dermatology Announces Partnership with First Coast Mohs

Expands Dermatology and Mohs Surgery Capabilities in Metro Jacksonville Market

PALM BEACH GARDENS, Fla., July 10, 2024 /PRNewswire/ -- AQUA Dermatology ("AQUA" or "the Company") announced today a new partnership with First Coast Mohs, a Jacksonville, Florida-based dermatology and skin cancer specialist group serving North Florida and Southern Georgia. AQUA, a leading provider of comprehensive full-service dermatology services in the Southeast, is backed by leading private equity firms Gryphon Investors and GTCR.

First Coast Mohs will continue to be led by Dr. Scott Warren, who founded the practice in 2002 and will invest a portion of his proceeds into AQUA. Additional financial terms of the transaction were not disclosed.

"The First Coast Mohs partnership grows our presence in Florida and specifically in the Jacksonville area, where we'll now have six locations in a thriving market," said Larry Kraska, CEO of AQUA. "The need for specialized surgical techniques will become even more important as baby boomers age and demand life-saving skin cancer treatments. Dr. Warren and his team have a stellar reputation and deep experience, having completed more than 40,000 Mohs surgeries, and we're excited to welcome them to the AQUA family."

First Coast Mohs offers Mohs surgery, surgical and medical dermatology, dermatopathology, cosmetic and laser treatments, electrolysis and other aesthetic services from four state-of-the-art facilities in metro Jacksonville. The First Coast Mohs team features seven clinicians, including two Mohs surgeons, two board certified dermatologists and three Advanced Practice Providers.

"Scott and the First Coast Mohs practitioners have a top-tier clinical reputation, and we're proud to support their mission of bringing high quality, affordable care to more patients," said Dr. Ted Schiff, AQUA's Chief Medical Officer. "The AQUA partnership strategy continues to deliver real value for patients and doctors alike, especially in regions where dermatology and skin cancer services are in high demand."

"First Coast Mohs shares the same vision and values as AQUA, and we're confident that our partnership will allow us to spend more time focused on patient outcomes and delivering the best care possible," said Dr. Warren.

With First Coast Mohs, AQUA now has 78 locations in Florida, making it one of the leading practices in the Southeastern U.S., with over 250 providers and 110 locations.

About AQUA Dermatology
AQUA Dermatology, headquartered in Palm Beach Gardens, Florida, is among the largest and most comprehensive full-service skin care providers in the Southeast, offering Medical, Surgical and Cosmetic Dermatology. For more than 25 years, the company has treated patients of all ages suffering from skin diseases, acne, sun damage, skin cancer, vein health issues, as well as those seeking cosmetic and plastic surgery. AQUA has 110 locations in Alabama, Florida, and Georgia and over 250 of the top clinicians in the field.

About Gryphon Investors
Gryphon Investors (https://www.gryphon-inv.com/) is a leading middle-market private equity firm focused on profitably-growing and competitively-advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, and Software sectors. With approximately $9 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon's highly-differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon's three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $350 million per portfolio company. The Junior Capital strategy targets investments in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon's targeted investment sectors.

About GTCR
Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $25 billion in over 280 companies, and the firm currently manages $40 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

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SOURCE AQUA Dermatology