GHO Capital to acquire FotoFinder Systems

GHO Capital to acquire FotoFinder Systems

Acquisition aligns with GHO’s strategy of investing in high growth areas of the MedTech market to improve healthcare outcomes

• FotoFinder Systems is the market leader and pioneer in dermoscopy and total body mapping, offering software/AI-enabled skin imaging devices for skin cancer detection and dermatology
• The Company is well-positioned in a growing market driven by increasing skin cancer incidence, an ageing population, and growing awareness of preventative skin health
• GHO is uniquely positioned to unlock FotoFinder’s next phase of growth through its transatlantic platform and operational expertise —supporting further global expansion and broader commercialisation into adjacent segments such as aesthetics
  
  

London, UK – 8 July 2025: GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, today announces that it has signed an agreement to acquire a majority holding in FotoFinder Systems (“FotoFinder” or the “Company”), the global market leader in analogue & digital dermatoscopes, total body photography systems and diagnostic software & AI for skin cancer detection and dermatology, expanding its portfolio of MedTech companies innovating in high growth therapeutic areas.

Founded in 1991 and headquartered in Bad Birnbach, Bavaria, FotoFinder is a pioneer in advanced skin imaging systems and AI-powered diagnostic software, serving clinicians across Europe, the US, and RoW via its direct sales channel and extensive distributor network. Following the acquisition of US-based DermLite in 2024 —the global leader in analogue dermatoscopes based in Aliso Viejo, California — the Company has built a unique platform spanning the full spectrum of skin imaging technologies, from handheld analogue and digital devices to software/AI solutions and fully automated total body mapping systems. FotoFinder’s strong R&D capabilities have driven decades of product innovation and market leadership, delivering best-in-class imaging quality, design, usability, and software/AI — including the first and only MDR-certified AI-assisted dermatoscope in the EU.

Ken Eichmann and Stuart Quin, Partners at GHO Capital, commented: “We are delighted to announce the acquisition of FotoFinder, a pioneer in advanced skin imaging and AI-enabled diagnostic software. GHO identified FotoFinder through its sub-sector origination efforts and has teamed up with Munich-based EMZ Partners in a bilateral transaction to accelerate growth. FotoFinder, headquartered in Bavaria and founded by Andreas Mayer and family, recently merged with DermLite, based in California and founded by John Bottjer, Nizar Mullani and Thorsten Trotzenberg, to create the global market leader in dermoscopy devices. We are excited to partner with Andreas, John and the combined FotoFinder/DermLite team, along with our partners at EMZ, to leverage our experience of scaling international healthcare platforms.”

Andreas Mayer, Chief Executive Officer of FotoFinder, said: “I am proud of the legacy that we have built since I founded FotoFinder together with my father over thirty years ago. Over the past three decades, we have grown into the global leader in skin-imaging solutions, which is a testament to the best-in-class quality of our offerings, our innovative AI-backed technology and our world-class R&D capabilities. GHO’s investment represents an inflexion point for the business, with its specialist healthcare industry expertise and unrivalled network, we believe GHO is the ideal partner to support the Company in unlocking this next phase of growth. We look forward to working closely with Jan and the rest of the team as we continue to develop our global expansion strategy.”

Klaus Maurer, Senior Partner at EMZ, said: “Since our investment in FotoFinder three years ago the Company has achieved continued growth, underpinned by its expanded presence in the US market through DermLite. After extensive discussions and close alignment between GHO, FotoFinder, and EMZ on the Company’s strategic direction, we believe we have laid out the best possible foundation for its future success. With its unrivalled transatlantic expertise and extensive global network, we believe now is the optimal time for GHO to lead the charge on unlocking the synergies between FotoFinder and DermLite and accelerating the growth trajectory of the overall business.”

Rising skin cancer incidence, an ageing population, and growing patient awareness for regular skin check-ups is driving the increased use of dermoscopy devices. With over 1.8 million new skin cancer cases diagnosed globally each year, there is a growing need for effective tools to support diagnosis and improve diagnostic workflows to support a critical shortage of dermatologists worldwide. FotoFinder’s cost-effective technology shortens diagnostic timelines, streamlines workflows, and supports better clinical decision-making—positioning the Company to meet growing global demand and improve outcomes in skin cancer detection and broader dermatological care.

With an existing global footprint and best-in-class product portfolio, FotoFinder is strongly positioned for continued growth across global markets. GHO’s unique capabilities in scaling healthcare businesses will allow the Company to further expand its international presence, build on existing synergies between FotoFinder and DermLite to create a fully integrated global platform, continue to deliver technology innovation and accelerate expansion into adjacent markets such as aesthetics, leveraging its existing commercial infrastructure and technology.

As part of the acquisition, GHO Operating Partner Jan De Witte will join FotoFinder’s Board of Directors as Chairman. Jan will work closely with FotoFinder’s management team to continue to deliver significant growth of the business, leveraging his experience and knowledge in the medical imaging space.

Transaction details
The transaction is expected to close in the coming weeks, subject to standard regulatory approvals. FotoFinder is currently majority owned by EMZ Partners. Alongside GHO’s equity commitment, EMZ Partners and management will reinvest to hold a minority position.

Advisors
GHO was advised by Hengeler Mueller and Choate Hall & Stewart LLP (Legal), Alvarez & Marsal (Financial & Tax), L.E.K. Consulting (Commercial), Deloitte (ESG) and Palo Alto Strategy Group (Technology).

-Ends-

Further information:

GHO Capital Partners LLP

T +44 20 3700 7440

E IR@ghocapital.com

About GHO Capital

Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. We apply global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. Our proven investment track record reflects the unrivalled depth of our industry expertise and network. We partner with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.

About FotoFinder

Founded in 1991 and headquartered in Bad Birnbach, Bavaria, FotoFinder is a leading manufacturer of cutting-edge skin imaging solutions. The Company provides systems that support early skin cancer detection through Automated Total Body Mapping (ATBM), Artificial Intelligence (AI), and digital dermoscopy. Since 2024, DermLite has been part of the FotoFinder Group. Established in 1999 and based in Aliso Viejo, California, DermLite revolutionized dermoscopy with polarized and hybrid handheld dermatoscopes. With subsidiaries in Italy and the U.S., and a strong global partner network, the FotoFinder Group serves healthcare professionals worldwide, empowering the dermatology community with sophisticated, intuitive solutions that integrate seamlessly into daily practice.

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