Home · Healthcare M&A · Sell a Dermatology Practice in NJ
Specialty Practice M&A · 2026
Dermatology has been the single most actively-consolidated medical specialty in the United States for five consecutive years, and NJ is among the most active states for dermatology M&A. Five or more PE-backed dermatology platforms are aggressively acquiring NJ practices, plus several regional consolidators. Practices with cosmetic and Mohs surgery revenue command the highest multiples. The auction dynamics on premium NJ dermatology groups are intense — competing PE buyers regularly drive multiples 1.5×–2× above the going market average.
NJ dermatology practices typically sell at 6×–10× EBITDA. The high end is driven by cosmetic / aesthetic services revenue mix, Mohs surgery volume, multiple locations, in-house pathology, multi-physician groups, and clean commercial-insurance payer mix.
| Sub-specialty / Category | Typical Multiple |
|---|---|
| General medical dermatology | 5×–7× EBITDA |
| Medical + cosmetic dermatology | 7×–9× EBITDA — cosmetic mix is the multiple-driver |
| Mohs surgery practices | 8×–10× EBITDA — Mohs revenue is highly valued |
| Cosmetic-heavy practices (50%+ cosmetic) | 6×–9× EBITDA — depends on payer/cash mix and recurring patient base |
| Pediatric dermatology | Lower PE platform interest, mid-range multiples |
| Dermatopathology in-house | Adds 1×–2× to base multiple |
Dermatology M&A in NJ runs through CPOM compliance — non-physician PE investors structure deals as MSO/Friendly-PC. Most dermatology PE platforms have well-established NJ MSO templates ready. Stark Law applies primarily to lab/pathology referrals if the practice has in-house dermatopathology. NJ Board of Medical Examiners physician license transitions are routine. State medical board character/competency reviews are typically streamlined for established dermatologists.
NJ dermatology practices typically sell at 6×–10× EBITDA. Practices with strong cosmetic revenue mix and Mohs surgery volume trade at the high end (8×–10×). General medical-only dermatology trades at 5×–7×. The cosmetic mix is the single biggest multiple driver.
Schweiger Dermatology Group (Goldman Sachs Asset Mgmt), Forefront Dermatology (Ontario Teachers'), Advanced Dermatology and Cosmetic Surgery (Harvest Partners), Riverchase / U.S. Dermatology Partners, Anne Arundel Dermatology (New Mountain Capital), and Dermatologists of Greater New York are the most active in NJ in 2026. Premium NJ dermatology auctions regularly produce 4–6 competing LOIs.
Typical NJ dermatology practice sales close in 8–12 months. PE-platform transactions follow a standard 4–6 month diligence cycle. Multi-physician groups take longer (12–16 months) due to physician comp negotiation complexity.
Typical PE dermatology deals: 70–80% cash at close, 20–30% rollover equity into the PE platform. Selling dermatologist commits to 2–3 years post-close practice continuity at agreed comp (28–35% of personal collections is common). Rollover equity participates in the platform's exit, typically 4–7 years later, creating upside above cash-at-close.
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