Latest / The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions
How Private Equity Is Buying Up Medical Spa Chains
Lucas and Luna dive into the private equity boom in medical spas — specifically the race to consolidate aesthetic medicine practices like Botox, fillers, and laser treatments. They examine a single deal: TSG Consumer Partners' 2024 investment in Milan Laser Hair Removal, a chain that grew from 10 locations to over 200 in five years. Lucas explains the unit economics: a laser machine costs roughly $100,000, a single session can retail for $300, and a patient typically needs 6 to 8 sessions. The margin math becomes attractive when you add membership packages and high retention. Luna…
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