AQUA Dermatology Announces Partnership with Steele Dermatology

Expands Cosmetic and Medical Dermatology Capabilities in Atlanta Metro Market

PALM BEACH GARDENS, Fla., April 21, 2026 /PRNewswire/ -- AQUA Dermatology ("AQUA" or "the Company") announced today a new partnership with Steele Dermatology, a private dermatology practice with two locations in the Atlanta area. AQUA, a scaled provider of comprehensive dermatology services in the Southeast, is backed by leading private equity firms Gryphon Investors and GTCR.

Steele Dermatology will continue to be led by board-certified dermatologist Dr. Chynna Steele Johnson, who founded the practice in 2014 and will invest a portion of her proceeds into AQUA. Additional financial terms of the transaction were not disclosed.

"The addition of Steele Dermatology strengthens our presence in Georgia, with locations in the attractive Atlanta neighborhoods of Alpharetta and Buckhead, and a well-earned reputation for outstanding cosmetic and medical dermatologic care," said Larry Kraska, CEO of AQUA. "With more than 10 years in operation, strong patient loyalty, and a robust digital presence, the practice brings an established brand in the Atlanta market. We're delighted to welcome Dr. Johnson and her team to AQUA."

Steele Dermatology offers a range of cosmetic and medical dermatology treatments, including aesthetic  and med spa services. In addition to Dr. Johnson, the practice includes two physician assistants and a team of three licensed aestheticians.

"Dr. Johnson, a nationally recognized dermatologist, has built a track record in blending best-in-class medical and cosmetic dermatology, and her team delivers care that addresses skin, hair, and body health in a coordinated setting," said Dr. Ted Schiff, AQUA's Chief Medical Officer. "By bringing together dermatology practices with complementary specialties, AQUA's partnership strategy continues to support the needs of both our doctors and patients."

"AQUA shares our commitment to excellence and expert patient care to help patients look and feel their very best.  We are excited to continue growing our practice in partnership with AQUA," said Dr. Johnson.

With Steele Dermatology, AQUA now has 19 locations in Georgia, making it one of the leading practices in the Southeastern U.S., with over 275 providers and 115 locations.

About AQUA Dermatology
AQUA Dermatology, headquartered in Palm Beach Gardens, Florida, is among the largest and most comprehensive full-service skin care providers in the Southeast, offering medical, surgical and cosmetic dermatology. For more than 25 years, the company has treated patients of all ages suffering from skin diseases, acne, sun damage, skin cancer, vein health issues, as well as those seeking cosmetic and plastic surgery. AQUA has 114 locations in Florida, Georgia, and Alabama and over 275 of the top clinicians in the field.

About Gryphon Investors
Gryphon Investors is a leading middle-market private investment firm focused on growing competitively-advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With more than $11 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and management teams to accelerate the building of leading, high-quality companies and generate enduring value through its integrated deal and operations business model. Since 1999, Gryphon's highly-differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, artificial intelligence, human capital acquisition and development, acquisition due diligence and integration planning, treasury, finance, and accounting expertise. Gryphon's three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon's targeted investment sectors.

About GTCR
Founded in 1980, GTCR is a leading private equity firm that invests behind The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $30 billion in approximately 300 companies, and the firm currently manages approximately $50 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

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SOURCE AQUA Dermatology