PALM BEACH, Fla., Oct. 25, 2022 /PRNewswire/ -- At Florida based Viper Equity Partners offices its all been about Plastic Surgery and Med Spas so far this year. Four years ago, the Viper team took to the road meeting with Private Equity firms from coast-to-coast pitching Plastic Surgery as the next big roll up target. Soon after they built an inventory of marquee practices available for acquisition and successfully completed the sale of Aqua Plastic Surgery Centers to Gryphon owned Watersedge Dermatology. The success of that partnership laid way to a flood of PE firms stepping up to follow suit.
"The space is extremely active now," stated, Samir Qureshi, Vipers' President. "I am not surprised at all; the practices are very dynamic and Inventory of willing sellers looking to join early-stage platforms is surging." Recently Viper closed on three platform deals, Marietta Plastic Surgery, SW Florida Oral and Facial Surgery Centers and Plastic Surgery Centers of Hampton Road. They also have four more groups under Letter of Intent with a dozen additional under contract. Viper works with surgical centers, med spas, reconstructive and cosmetic surgery practices, and aesthetics. Viper, a sponsor of Plastic Surgery, The Meeting will be on site in Boston with a booth to further educate potential buyers and sellers about the market this week.
One key element Viper brings to the equation is their experience in dealing with Surgeons. They have led the Dermatology and Oral Surgery space since 2009. Plastic surgeons are earners. The offices are high volume and very profitable. The noninvasive side, run primarily by PA's and nurses is a huge income booster. In house surgical suites which are now common also cut costs and add major concessions. Yes, cash is king in this business, but many offices have brought on reconstructive business and in house dermatologists which bring in the insurance revenue. It is the
adaptability and entrepreneurial spirt of the Plastic Surgeons which makes them an excellent partner.
Samir goes on to talk about the current environment. "The deal flow has really come on strong now with realistic multiples in place. We battled rumors of ridiculously high multiple numbers being thrown around confusing the Doctors. We now have expectations aligned which is great!" Viper has been underwriting all their clients deals in house and pricing them before they go to market. This has streamlined the process which has been well received by both buyers and sellers.
"Samir has really put this division together and made it a powerhouse," stated David C. Branch, Viper's founder. "He is going to take it all the way and that is a wonderful thing."
Contact: David Branch dave@viperequitypartners.com