NavaDerm Partners completed a financing with CRG, a healthcare investment firm. Through the transaction with CRG, NavaDerm will initially access $20 million of debt and the proceeds will be used to retire existing debt and provide capital for immediate growth opportunities. The company has the option to draw a further $10 million at its discretion and upon achieving certain milestones in 2021 and 2022.

Dr. Roy Geronemus, NavaDerm CEO, stated "We are thrilled to have CRG as a partner."

Dr. Roy Geronemus, NavaDerm CEO and Board Director, stated "We are thrilled to have CRG as a partner. They understand provider businesses and I look forward to working with CRG and BelHealth to continue on our path toward building a world class dermatology platform in the Northeast. Dr. Geronemus also added, "we are very excited to continue to add new physicians, grow our plastic surgery practice and open de novo locations. This capital also helps us continue to provide the latest and best-in-class equipment for our physicians that provide the best clinical outcomes for our patients."

Scott Li, CRG Managing Director stated, "We are excited to work with the NavaDerm team and their supportive investors from BelHealth. NavaDerm partners with many of the top dermatologists in the Northeast and its differentiated physician-led model helps them provide superior clinical care for patients."

"It has been terrific working closely with the CRG team to complete this financing," said Vera Abramova, NavaDerm CFO. "This financing provides us the flexibility to aggressively pursue additional growth initiatives and develop our ancillary business lines in skincare products, research, clinical trials with pharmaceutical companies and opening two pathology labs."