MedSpa Partners Launches Premier Canadian MedSpa Rollup with Lead Investment from Persistence Capital Partners
- Dr. Mark Lupin Signs on as Founding Partner and Chief Clinical Officer -
TORONTO, December 5, 2019 – MedSpa Partners Inc. (“MSP”) is pleased to announce the launch of its acquisition platform for Canada’s leading medical spas and dermatology clinics, in collaboration with Persistence Capital Partners (“PCP”), a private equity fund focused exclusively on investing in high-growth opportunities in Canadian healthcare. As part of the launch, MSP has acquired two premier clinics - Cosmedica in Victoria, British Columbia, and SpaMedica in Toronto, Ontario.
MSP was founded by PCP and serial entrepreneur Dominic Mazzone to acquire and consolidate premium dermatology and medical spa practices across the country in a partnership model that is a first for the industry. This unique partnership model is attracting leading aesthetic medicine practitioners across Canada, including dermatologist and founding partner Dr. Mark Lupin (Cosmedica) in Victoria.
“Informally sharing best practices has always been a key feature of practicing aesthetic medicine in Canada,” says Dr. Lupin, MSP Chief Clinical Officer. “But the MSP partnership takes this to a new level, creating a community of likeminded professionals across Canada with whom to formally share cutting edge clinical practices and professional development for all roles in the practice.”
Speaking to the impact that partnering with MSP will have on his practice, Dr. Lupin continued, “Finally there is an option that allows Canada’s leading aesthetic doctors to focus on what they do best – providing world-class customer experiences for our clients. MSP enables this by having a dedicated professional team to help support the business side of our practice – everything from payroll and HR to IT and marketing expertise.”
Discussing what makes MSP’s approach uniquely valuable, MSP CEO Dominic Mazzone says, “Until now, Canadian aesthetic practitioners haven’t had the opportunity to be part of such an exciting partnership, as they only have been offered straight buy-out options that don’t let them enjoy the long-term financial benefits. MSP’s partners get the value they’ve earned, while keeping the brands that they’ve built over years of dedication to creating great customer experiences. Our light-touch approach to integration ensures that our partners retain control of how they practice because, in the end, a great partnership experience creates a great customer experience.”
Commenting on the investment, John Trang, Partner at PCP and Board Chairman of MSP, said, “We are very excited to lead the investment in Canada’s premier rollup of medical aesthetics clinics. We believe it’s the right investment with the right team at the right time. Medical aesthetics is one of the few sectors of the healthcare market that is forecasted to see consistently strong growth across economic cycles. MSP is our third investment in our most recent fund, where we continue to execute on our proven investment strategy.”