STAMFORD – June 7, 2022 – WhiteHorse Capital provided a credit facility to DermCare (the “Company”), a Hildred Capital Management portfolio company, to refinance the existing capital structure, fund an acquisition, and provide growth capital to support the Company’s acquisition strategy. Founded in 2016 and headquartered in Hollywood, Florida, DermCare is a dermatology platform providing general dermatology, skin cancer services and cosmetic procedures primarily in Florida, Texas, and California.
Proceeds from the financing were partially used to fund the acquisition of Berman Skin Institute (BSI), a 12 office dermatology group practice based in Northern California. This acquisition expands DermCare's existing footprint in California and provides a meaningful presence in the highly attractive San Francisco Bay Area and Sacramento markets. BSI is one of the largest hair transplant centers in the world and blends innovative medical technology and research to provide patients with the best possible dermatologic care for skin and hair conditions.
“It was a pleasure partnering with the WhiteHorse Capital team on this transaction, which enables us to accelerate our growth strategy, expand our existing practice footprint and enhance our service offerings to improve patient care,” said Jeffrey Schillinger, Chief Executive Officer of DermCare.
Stuart Aronson, Executive Managing Director and CEO of WhiteHorse Capital, added, "We’re excited to partner with DermCare and look forward to supporting the management team as they execute on their growth strategy going forward."
About DermCare Management
DermCare Management, a portfolio company of Hildred Capital Management, is a dermatology practice management company founded on the principle of merging seasoned medical professionals with clinically focused management expertise. Founded in 2016 as a group of 5 founding practices encompassing 15 South Florida locations, DermCare continues to grow year after year despite the macroeconomic issues and uncertainty. On a national level, the DermCare platform is now home to 60 facilities with more than 140 medical providers across Florida, Texas, and California.
About WhiteHorse Capital
WhiteHorse Capital provides debt financing to middle market companies across a wide range of industries including Telecom, Media and Technology, Healthcare, Business Services and Financial Services. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across the U.S. and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long term relationship oriented portfolio management philosophy. To learn more visit www.whitehorse.com.