Physician Growth Partners (PGP) was founded with a clear mission: to advise independent physician groups as they explore and execute strategic partnership transactions with private equity and strategic acquirers, with the goal of creating long-term growth while preserving clinical autonomy. Our first engagement with Bobby Buka, MD, set the tone for this mission in action.
Dr. Bobby Buka, a leading dermatologist in New York, was exploring opportunities to expand his practice while maintaining independence in clinical decision-making. His goal was to grow the practice’s geographic footprint and resources without sacrificing the quality of care or control his providers had over patient outcomes.
PGP was engaged to lead a strategic partnership process on behalf of Dr. Buka. Through a comprehensive and competitive process, we advised on a transaction that involved merging his practice with Brooklyn Dermatology and partnering with Regal Healthcare Capital Partners. This led to the formation of The Dermatology Specialists, a dermatology platform designed to scale rapidly while preserving physician leadership.
Upon engagement with Physician Growth Partners, Buka Dermatology went through:
Conducting a thorough valuation analysis to ensure shareholders received maximum economic value.
At the time of the transaction in 2018, The Dermatology Specialists launched with:
In 2025, the platform has grown significantly:
This growth has been enabled by robust operational infrastructure, centralized back-office support, and the ability to leverage economies of scale — all while empowering clinicians to maintain autonomy in their day-to-day practice. The group continues to deliver exceptional patient care with the added benefits of scale and stability.
This inaugural engagement with Dr. Bobby Buka highlights the value PGP delivers to independent physician groups: helping them unlock growth opportunities through strategic private equity partnerships while protecting what matters most — clinical independence and patient care. The continued success of The Dermatology Specialists remains a testament to the power of aligned partnerships and thoughtful execution.
For physicians looking for further assistance in the ever changing landscape of independent practice, a strategic private equity partnership can help grow the practice by improving operations and aggregating scale and shared resources, while allowing the physician shareholders to focus on maintaining and improving patient care. This can translate to further growth and success for the practice, their patients, and the community.
If you’re a physician founder or shareholder of an independent physician practice wondering if private equity makes sense for your practice, please fill out the form below and one of our healthcare investment bankers will be in touch with you shortly.