Sheridan Capital Partners Announces Formation of Ascend Plastic Surgery Partners
Sheridan Capital Partners ("Sheridan") announced today the formation of Ascend Plastic Surgery Partners ("Ascend" or the "Company"), a plastic surgery physician practice management company. Today, Ascend represents the combination of five plastic surgery practices and two standalone MedSpas. Sheridan invested alongside Ascend's surgeons and management, who have retained a meaningful ownership stake in the business.
Ascend is headquartered in Atlanta, Georgia, and currently provides care in Alabama, New Mexico, South Carolina, and Utah. The Company offers a full range of plastic surgery and med spa services to its patients. Dr. William Hedden, a board-certified and tenured surgeon in the specialty, will assume the position of Chief Medical Officer of the newly formed entity. Sheridan partnered with Dr. Hedden, along with a team of accomplished physicians, to establish Ascend Plastic Surgery Partners. Ascend will continue to bring together and support plastic surgeons who dedicate themselves to the mission of providing high quality care and service.
"This partnership represents an exciting opportunity to redefine excellence in plastic surgery. By uniting our practices and expertise, we aim to deliver unparalleled patient experiences and outcomes," commented Dr. Hedden, Chief Medical Officer. "We chose to partner with Sheridan given their extensive experience building physician-centric prctice management businesses, their dedication to a plastic surgery-focused platform and their respect for and alignment with our clinical goals."
"Ascend is an early mover in the highly fragmented cosmetic plastic surgery market and immediately becomes one of the few platforms of scale dedicated to the specialty," said Nicholas Rowland, a Partner at Sheridan Capital Partners. "We are honored to be partnered with such strong clinical leaders and remain aligned in our collective vision to build a differentiated, high-growth platform that continues to attract talented plastic surgeons and deliver an elevated patient experience."
"We believe that Ascend has the potential to advance the industry standard through its commitment to innovation, patient care, and clinical excellence," adds Sheridan Principal Chris McCrory.
The transaction was led by Jonathan Lewis, Nicholas Rowland, Christopher McCrory, Stephen Lestyan, and Munib Ansari at Sheridan Capital Partners. McDermott Will & Emery LLP served as legal counsel to Sheridan Capital Partners. Financial terms of the transaction were not disclosed.
About Ascend Plastic Surgery
Ascend Plastic Surgery Partners is a Management Services Organization (MSO) in the field of Plastic Surgery and Aesthetics. Founded on a commitment to excellence, innovation, and patient care, Ascend Plastic Surgery Partners brings together a network of highly accomplished plastic surgeons and their practices to advance the art and science of aesthetic medicine.
About Sheridan Capital Partners
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 medical products, bringing strategic resources to accelerate growth, build enduring value, and achieve strong results. For more information, please visit www.sheridancp.com.