Radiance Medical Aesthetics & Wellness ("Radiance"), a premier medical spa known for advanced aesthetic treatments and personalized care, has partnered with Formula Wellness, a Dallas-based health, wellness, and aesthetics group. Thomas Allen and Lauren Wheeler at Practice Transitions Group ("PTG") served as the exclusive advisors to Radiance during the transaction.
THE WOODLANDS, Texas, Sept. 16, 2024 /PRNewswire-PRWeb/ -- Radiance Medical Aesthetics & Wellness ("Radiance"), a premier medical spa known for advanced aesthetic treatments and personalized care, has partnered with Formula Wellness, a Dallas-based health, wellness, and aesthetics group. The addition of Radiance represents Formula Wellness Center's first expansion outside of Dallas-Fort Worth. Thomas Allen and Lauren Wheeler at Practice Transitions Group ("PTG") served as the exclusive advisors to Radiance during the transaction.
"We are witnessing the early stages of the aesthetics and wellness industry consolidation into larger, more efficient organizations," said Thomas Allen, CEO of Practice Transitions Group. "The early entrepreneurs who built practices in the space are seeing this as an opportunity to take a large cash windfall and continue to grow their practices with experienced teams running large businesses. This partnership between Radiance and Formula Wellness highlights the growing demand from investors for great businesses in the space, and we're proud to be at the forefront of guiding these transformative transactions. Our role is not just about closing deals; it's about shaping the future landscape of the aesthetics industry by connecting exceptional business owners with strategic capital and operational partners."
"We're honored Ms. Olson chose us to sell her MedSpa - it's not just a successful business, it's the legacy of an industry pioneer," said Lauren Wheeler, M&A advisor at PTG. "The best part is that we found a partner in Formula Wellness who will allow her practice to keep flourishing on the incredible foundation of patient care and wellness that she's been building for nearly 20 years."
Lauren Olson, PA-C, founded Radiance in 2005 after years of practicing in internal medicine, endocrinology, and family medicine. Radiance quickly established itself as a leader in the medical aesthetics field, consistently recognized as the Best Health Spa & Wellness Center in The Woodlands and renowned for offering services such as neuromodulators, dermal fillers, PDO thread lifts, regenerative skin treatments, and more. In 2023, Olson was honored by the American Medical Spa Association as a Distinguished Woman of Excellence in Medical Aesthetics.
"As a medspa owner, I had been pursued by private equity groups for over two years," Ms. Olson said. "When I learned that one does not have to exit after an acquisition, I decided to engage Practice Transitions Group (PTG) and it was the best thing I ever did. Knowing that it was important to me to be an active participant in the development of a new, larger platform, they found the perfect match. We will be merging with a 'best in class' wellness practice with five locations, bringing our medical aesthetics and operational expertise."
Radiance has built a reputation for personalized, cutting-edge skincare solutions, making it an ideal partner for Formula Wellness. This partnership will expand the service offerings to patients in The Woodlands, combining the expertise of Radiance's esteemed providers with Formula Wellness' comprehensive approach to health and longevity.
"We are excited to join forces with Radiance Medical Aesthetics & Wellness, bringing our integrated health and aesthetics services to The Woodlands," said Michael Bennett, CEO of Formula Wellness. "We aim to ensure a seamless transition for Radiance's patients and staff while introducing new services that enhance health and well-being."
About Practice Transitions Group
Founded in 2015, Practice Transitions Group is a strategic sell-side M&A advisory and transitions firm focused on representing aesthetic, dentistry, and medical practices with revenues ranging from $2 - $20MM.
About Formula Wellness
Formula Wellness provides comprehensive health and aesthetic services tailored to each patient's unique needs, with a focus on optimizing health, aesthetics, and longevity. With a clinical advisory board led by Chief Medical Officer Dr. Brian Rudman, Formula Wellness is committed to excellence in healthcare and longevity science, setting a new benchmark in preventive healthcare and aesthetics.
About Trive Capital
Trive Capital is a Dallas, Texas-based private equity firm with more than $4 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement.
Media Contact
Morgan Burrell, Practice Transitions Group, 1 (512) 956-5076, [email protected], https://practicetransitionsgroup.com/
SOURCE Practice Transitions Group
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