Accelmed Partners (“Accelmed”), a private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies, today announced that it concluded a $35 million investment in SKNV Inc. a full continuum-of-care dermatology digital health company for in-practice dispensing and ecommerce of customized prescriptions and skincare. Lake Street Capital served as sole financial advisor on the transaction
Founded in 2016 by Dr. Spencer Malkin, SKNV is the market leader and FDA-Registered 503B Outsourcing Facility for customized medications dispensed directly from dermatology practices. With customized medicines making a clinical difference across the 12 most common dermatological diagnoses, SKNV enables doctors to determine the prescription potency and active ingredient customization needed for targeted results to their individual patients. By offering dermatology practices a complete system that includes customized medications and the proprietary technology platform required for compliant dispensing and patient management, SKNV is uniquely positioned to meet the needs of both modern practice operations and precision patient care. The Company’s digital health platform allows local practices to focus on optimized daily care, while providing 24/7 tools to improve drug adherence, refill automation, and telehealth options for patients.
Dr. Uri Geiger, Managing Partner of Accelmed, said, “SKNV has developed a best-in-class customized digitally driven medication system that puts the power of prescriptions back in the hands of doctors and patients. For too long, middlemen players have driven up the cost and complexity of prescription medicine, often inserting their power to deny or change the prescription that doctors order for patients in their care. SKNV is changing that power dynamic by giving dermatology practices and their patients the autonomy to make the right decisions for their unique prescription needs. With their unmatched level of targeted Rx care and digital health convenience combined with a wallet-friendly price, SKNV's customized medications are the affordable, best choice for dermatology patients. What makes this even more impressive is how SKNV is helping reaffirm and redefine the lead role of the local practice and prescribing doctor in the future of digital-enabled healthcare. We are excited to partner with Spencer and the entire SKNV team to further expand the Company’s geographic footprint, operational capabilities, and digital health technologies to serve more customers across the United States.”
Proceeds from the investment round will be used to help SKNV advance its new, state-of-the-art manufacturing facility in Florida, scale its proprietary digital health platform, increase its sales team footprint across the U.S., and expand its management team with strategic hires.
Dr. Spencer Malkin, Founder and CEO of SKNV, added, “We are partnering with Accelmed because they share in our vision for a dermatology ecosystem that connects local practices and customized medicine with the latest in digital health technologies to drive patient care compliance and prescription drug adherence. The real future of healthcare combines digital and local care to improve patient outcomes. As others continue their pursuits to displace dermatology practices, SKNV empowers community doctors with the advanced, customized solutions that modern patients seek without losing the personal care from local providers they trust. Accelmed’s operational expertise and industry-wide connections are key to expediting our growth from an innovative market leader in customized medicine to the new pharma standard for dermatology.”
About Accelmed Partners
Accelmed is a U.S.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies. Since 2009, Accelmed has deployed over half a billion dollars into companies spanning medical devices, diagnostics, digital health and technology-enabled healthcare services. Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team’s industry experience, operational and financial expertise, and strong global relationships. For more information, please visit www.accelmed.com.
About SKNV Inc.
SKNV is a pioneer in customized medications and skincare solutions for leading dermatology practices across the United States. Combining a fully integrated, in-office dispensing solution for local doctors with a digital health ecommerce platform for monthly patient refills, SKNV places the power to determine and fully manage customized prescription care paths back in the hands of local providers. The SKNV Customized Dermatology System delivers targeted results and repeat purchases through tailored regimens in preventative, curative, and maintenance skin care. More information is available at www.sknv.com.
Amanda Klein/Alex Jeffrey
Gasthalter & Co.