Aqua Dermatology, a private equity‑backed chain operating in the Southeast, announced the acquisition of Steele Dermatology, a two‑office practice in Atlanta. The deal adds to Aqua’s footprint, bringing its total locations to 19 across Georgia and Florida. The move follows a broader push by investors to consolidate fragmented dermatology markets.

Founder Dr. Chynna Steele Johnson will remain at the helm of the acquired clinics, retaining clinical leadership while investing a portion of her proceeds back into Aqua. Her continued involvement signals confidence in the combined platform’s growth prospects and aligns incentives between owners and private‑equity sponsors.

Aqua’s backers Gryphon Investors and GTCR have been active in healthcare roll‑ups, using capital to scale service networks and improve bargaining power with insurers. By absorbing Steele’s two sites, Aqua gains a stronger presence in the high‑growth Atlanta market, a key target for future expansion and broader regional reach.

The transaction expands Aqua’s patient base by an estimated several thousand skin‑care consumers, enhancing revenue visibility for the private‑equity owners. With Dr. Johnson’s stake aligning interests, the combined entity is positioned to negotiate better contracts and pursue additional acquisitions in the Southeast over the next year.