Peoria, Ill.-based Soderstrom Skin Institute and its management company, MedPro Advantage, have partnered with private equity firm H.I.G. Growth Partners to develop clinics in underserved markets .
The institute has a surgery center and eight clinics in Illinois and Iowa. Edgemont Partners, a healthcare investment bank, served as a financial adviser to MedPro.
Carl Soderstrom, MD, founder of the dermatology practice, will continue to serve as its medical director. Tina Peugh will continue serving as CEO of MedPro, and Robert Coward, a past president of physician services at Envision and former president of Amsurg, will join MedPro's board of directors.
“H.I.G. brings deep expertise growing companies, experience in managing clinician services, capital for future growth and a shared commitment to the people and values that have made MedPro and SSI so successful since our founding," Dr. Soderstrom said.