U.S. Dermatology Partners

U.S. Dermatology Partners

U.S. Dermatology Partners was founded as a practice management organization focused on aggregating dermatology clinics into a single, scaled platform. Led by CEO Paul Singh, the firm operates on a physician-partnership model that distinguishes it from traditional private-equity-backed roll-ups: partner physicians retain meaningful equity in their local practices while the parent organization provides centralized administrative, billing, and operational support. The group has expanded across multiple states, building density in the Sun Belt. The firm's strategy centers on acquiring established dermatology practices and integrating them onto a shared services platform. Investment coverage spans general dermatology, Mohs surgery, and cosmetic dermatology services. The partnership structure is designed to align incentives between the central organization and practicing physicians, who receive liquidity at close while maintaining an ongoing ownership stake in the broader enterprise. This model has allowed the group to scale rapidly while preserving the clinical culture of its constituent practices. U.S. Dermatology Partners has grown into one of the largest dermatology-focused practice management organizations in the United States. The platform operates clinics across Texas and neighboring states, with a geographic footprint concentrated in the Southwest. The firm has been backed by private equity capital to fund its acquisition strategy, though specific sponsor relationships and fund-level deployment figures remain undisclosed. Structurally, U.S. Dermatology Partners differs from many healthcare roll-ups in its insistence on physician co-ownership at both the local and platform level. This governance architecture is designed to retain clinical talent and prevent the principal-agent drift that often erodes value in practice-management deals. The model reflects a broader trend in physician-practice management, where firms have learned that doctor disengagement destroys the asset they just bought.