PE-backed MSP buys Skin Matters

MedSpa Partners, a portfolio company of Canadian healthcare private equity firm Persistence Capital Partners, has acquired Vancouver, British Columbia-based Skin Matters, a medical aesthetics platform.

MedSpa Partners, a portfolio company of Canadian healthcare private equity firm Persistence Capital Partners, has acquired Vancouver, British Columbia-based Skin Matters, a medical aesthetics platform. No financial terms were disclosed.

PRESS RELEASE

TORONTO, Feb. 24, 2020 /CNW/ – MedSpa Partners Inc. (“MSP”) is pleased to announce the addition of Skin Matters Acne and Skin Medical Centre in Vancouver, BC, to its top-tier Canadian medical aesthetics platform. With this acquisition, MSP adds its fourth clinic in BC and further expands its national group of premier medical spas, growing to five clinics in the five months since its founding in October 2019 and making MSP the fastest-growing network of top-tier medical aesthetics practices in Canada.

With the launch of Skin Matters in 1992, Dr. Charles Cheng quickly established himself as one of the pioneers of medical aesthetics in Canada and is recognized internationally as an expert on the aesthetics of the Asian demographic. Nearly 30 years later, Dr. Cheng continues to be at the forefront of medical aesthetics and a sought-after consultant and physician trainer for the industry’s leading companies in Canada and Asia. Today, Skin Matters has expanded its team having been joined by Dr. Selina Li and a staff dedicated to providing outstanding customer experience.

“At Skin Matters, it is our goal to increase every client’s self-confidence, regardless of age or gender, by returning their own youthful look,” says Dr. Cheng. “One of the things that attracted me to MSP from the start is that they are the premium platform in Canada, and the ability to be part of a group of some of the best practitioners, sharing in the benefits a large platform brings, is pretty special.”

Speaking to the impact that partnering with MSP will have on Skin Matters, Dr. Cheng continued, “By consistently putting our patients’ needs first, we have built a successful practice through word of mouth from our happy clients. Now, the partnership with MSP will allow us to accelerate our growth even further by introducing cutting edge management and marketing practices while maintaining our unique brand and customer service.”

“It is with great pleasure that we welcome Dr. Cheng and the Skin Matters team to the MSP family,” says MSP CEO Dominic Mazzone. “The speed of our acquisitions is exciting, but even more exciting is the calibre of the physician partners who are joining us. Dr. Cheng and Skin Matters allows MSP to target a different segment of the market in addition to bringing a fantastic skill set into the platform. The opportunity for growth is significant.”

About MedSpa Partners Inc.
MedSpa Partners is acquiring Canada’s leading Medical Aesthetics clinics, with the goal of allowing our industry-leading partners to achieve their personal and professional aspirations by creating world-class customer experiences through support, collaboration, and community. MSP is a portfolio company of Persistence Capital Partners, Canada’s leading private equity fund exclusively focused on high-growth opportunities in the healthcare field. Additional information on MSP is available at www.medspapartners.com.