Laser MD Medspa Acquires Young Medical Spa, Expanding into Pennsylvania and Adding Four New Locations
Laser MD Medspa ("Laser MD Medspa" or the "Company"), the premier medical spa services company in the Northeastern U.S., announced today the acquisition of Young Medical Spa ("Young Medical Spa"). The acquisition of Young Medical Spa expands Laser MD Medspa's footprint into the state of Pennsylvania by adding four locations in the Bala Cynwyd, Center Valley, Lansdale, and Wilkes-Barre areas. Young Medical Spa offers a full suite of cosmetic and aesthetic treatments, including Body Contouring and Shaping, Botox® and Dermal Fillers, Laser Hair Removal, Skin Rejuvenation and Facial Contouring.
The acquisition of Young Medical Spa expands the Company's dominant footprint to 15 locations within the Northeastern and Mid-Atlantic U.S. regions.
"We are excited about adding Young Medical Spa to the Laser MD Medspa platform and expanding our presence into the Philadelphia-Lehigh Valley areas. The acquisition of Young Medical Spa not only provides Laser MD Medspa with immediate scale and a talented team, but also provides a new growth platform within the attractive Pennsylvania market. The partnership with Dr. Young and the Young Medical Spa team will expand the Company's service offerings and provide opportunity for sharing of best practices to enhance overall organic growth. The Laser MD Medspa team looks forward to welcoming our new customers and continuing to provide them with high-quality treatment offerings," said Donna Simonds, CEO of Laser MD Medspa.
Dr. Thomas Young, the Founder and Medical Director of Young Medical Spa, commented, "We are thrilled to join the Laser MD Medspa family. Laser MD Medspa offers an excellent combination of top-quality customer service and a growing geographic footprint to provide best-in-class medical spa services to our customers. Joining the Laser MD Medspa family will allow our team, company, and customers to benefit from Laser MD Medspa's extensive infrastructure and support services. We could not have found a better partner to continue on our growth trajectory."
An award-winning aesthetic physician, and native of Lehigh Valley, Dr. Young is double board-certified by the American Board of Internal Medicine. He is an experienced cosmetic injector and specializes in multiple awake tumescent procedures and techniques. Dr. Young began performing SmartLipo™ Laser Body Sculpting™ soon after approval by the FDA and will continue as Medical Director of all locations within the Pennsylvania market.
Laser MD Medspa continues to pursue additional acquisitions and will open new locations to execute on its growth strategy.
About Laser MD Medspa, LLC
Laser MD Medspa, LLC was formed by the combination of Laser MD Medspa, LLC and SculptMe, LLC. Founded in 2012 and headquartered in Braintree, MA with fifteen locations throughout the greater Boston metropolitan and Pennsylvania regions, Laser MD Medspa is a leading provider of medical spa services. Primary services include laser hair removal, body and facial contouring and shaping services (SmartLipo™, CoolSculpting®) and Botox®, supplemented by additional injectable, skin and other aesthetic procedures. The company has grown systematically through acquisitions and de novo location additions, targeting visible high traffic areas with attractive demographic characteristics, where it can create relaxing spa-like environments for clients.
About Young Medical Spa
Founded in 2003, Young Medical Spa strives to provide the most advanced treatments with the highest quality care. Young Medical Spa offers a variety of body contouring and skin rejuvenation treatments, as well as cosmetic injectables and facial contouring procedures. By using state-of-the-art technology, it provides personalized treatments based on each patient's individual needs and desires. Serving the entire Philadelphia- Lehigh Valley region, Young Medical Spa has four locations in Pennsylvania to serve patients throughout central and eastern Pennsylvania including Bala Cynwyd, Center Valley, Lansdale, and Wilkes-Barre.
About Potomac Equity Partners, LLC
Potomac Equity Partners is a Washington, D.C.-based private equity investment firm focused on providing superior equity returns through the close partnership and collaboration with its portfolio company management team members. The firm strives to invest in companies with leading products and services, superior management teams, and in which its invested capital and collaborative efforts can enable companies to exponentially ramp their long-term growth prospects and overall performance. The principals of Potomac Equity Partners have a long and successful history of investing with management teams across a wide range of industries including healthcare, software and technology, education and training, and information services.