Omers takes majority stake in Forefront Dermatology

In February 2016, OMERS Private Equity signed a definitive agreement to acquire Forefront Dermatology from Varsity Healthcare Partners. The transaction values the business at an enterprise value of $450m, representing an EV/EBITDA multiple of 15x–25x. The deal aligns with Omers Private Equity’s longstanding focus on building scalable, multi‑site healthcare platforms; the firm has previously invested in CBI Health Group, Great Expressions Dental Centers, Caliber Collision and other mid‑market operators. The incoming private equity sponsor intends to deploy programmatic capital to finance the next phase of regional and national growth for Forefront Dermatology, explicitly targeting the acquisition of new practices and the deployment of additional centralized resources for medical practitioners. Executive leadership remains entirely intact during this ownership transition, with Chief Executive Officer Scott Bremen continuing to direct the daily corporate administration alongside the established physician leadership council. The transaction successfully concludes the holding period for Varsity Healthcare Partners, allowing the firm to fully monetize its historical investment cycle in the specialized practice management sector. To execute this complex healthcare market consolidation, OMERS Private Equity assembled a dedicated transaction advisory consortium. Specifically, the acquiring pension fund arm mandated BMO Capital Markets Corp. to serve as the exclusive buy-side financial advisor, ensuring comprehensive valuation modeling and deal structuring. Furthermore, OMERS Private Equity retained the law firm Sidley Austin LLP to provide specialized legal counsel and navigate the regulatory compliance frameworks required for clinical ownership transfers. By finalizing this cross-border capital injection, the institutional investor secures a highly scalable foundation to actively consolidate the fragmented North American dermatological services market.