Arizona Tribune - DuneGlass Capital Announces the Launch of Aviva Aesthetics: The Industry's Only Entrepreneur-Owned and Led Medical Aesthetics Platform

Aviva Aesthetics provides med spa owners with an alternative to private equity

DuneGlass Capital, a healthcare services-focused independent sponsor that specializes in the formation of doctor and entrepreneur-owned and led management services organizations (MSOs), has partnered with Pura Vida Medspa & Cosmetic Laser Center, a leading medical spa in Fulton, Maryland, to form Aviva Aesthetics, the only aesthetics platform that is owned, led, and governed by med spa owners. Aviva's distinctive equity and governance model - called Entrepreneur Equity™ - provides med spa owners with the same resources and support as private equity-backed platforms without having to sell their businesses or give up practice autonomy.

"Our mission at Aviva is to shape the future of aesthetic medicine and give med spa owners an alternative to private equity," said Dr. Leslie Apgar, Aviva Aesthetics founding doctor and owner and medical director of Pura Vida. "We're building a network of best-in-class providers, including the specialty's leading innovators, who are establishing best practices and sharing clinical expertise, elevating each other through connection and collaboration, have a growth mindset, and want to invest in themselves. Med spa owners who join Aviva benefit from back-office support that reduces the day-to-day burdens of running their businesses so that they can focus exclusively on what they do best: providing exceptional treatments and outcomes for clients."

Unlike other medical aesthetic platforms, med spa owners who join the Aviva network:

• Retain 100% of the equity in their business, meaning med spa owners keep their earnings growth or growth from opening additional locations

• Keep complete autonomy over the operations of their business

• Become shareholders of the platform, giving med spa owners an EBITDA multiple at exit typically reserved for large PE-backed platforms

• Are anticipated to earn 2-3x more than a traditional exit opportunity because they own the platform, not private equity

Meanwhile, the Aviva management team - comprised of private equity professionals and executives with decades of experience growing and operating multi-unit healthcare and consumer businesses - helps med spa owners maximize their practice value before a future sale.

Leading the executive team is CEO Tyler Weinberg, an entrepreneur and private equity veteran with extensive consumer and wellness industry expertise. He will spearhead Aviva's strategic expansion in key U.S. markets and ensure that the platform delivers comprehensive finance and accounting, HR, operations, purchasing and vendor management, and marketing support to Aviva's med spa owners.

"I was drawn to Aviva's commitment to partnering with entrepreneurs who are leading innovation across the specialty and establishing the industry's highest standards for quality, safety, ongoing education, and training for practitioners," said Weinberg. "Our goal is to empower our partners to continue to grow their businesses as shareholders and benefit from the kind of economics that are traditionally reserved for private equity."

Joining Tyler Weinberg on the executive team, Andrew Fatch brings over a decade of investment banking, private equity, and board-level experience within the consumer sector. As Chief Development Officer, he will play a crucial role in forging new partnerships with strategically aligned, like-minded medical spa owners, enhancing their practices, and ensuring alignment with Aviva's high standards and strategic objectives.

Aviva Aesthetics Key Value Proposition for Med Spas

• Proven toolkit of cost savings and operational improvements to optimize and grow their businesses

• Anticipated higher valuation (2-3x) at future collective exit as part of the platform

• A world-class network that is at the forefront of the latest, safest, and most effective techniques and technologies in the industry

• Clinical and operational autonomy, which allows med spa owners to pursue the latest treatments for best-in-class patient outcomes, maintain all brand recognition in their markets, and keep their staff

• An experienced management team that has built and exited multiple platform businesses in the healthcare industry, totaling over $1 billion

"Dr. Apgar, Tyler Weinberg, and Andrew Fatch at the helm of Aviva Aesthetics exemplifies what we mean when we say that we combine the best of private practice with the best of private equity," says DuneGlass Capital Managing Partner Dan Hosler. "Aviva was founded on three core values - better transparency for medical aesthetics entrepreneurs into the private equity and MSO business models, better alignment of interests among med spa owners, clients, staff, and investors, and better economics for med spa entrepreneurs. Aviva's distinctive ownership and governance model is the natural evolution of traditional PE-backed MSO platforms, and we are proud to pioneer and pave a new path forward in the medical aesthetics industry."

About Aviva Aesthetics
Aviva means "fresh," and that is what we are building - a new model for visionary medical aesthetics entrepreneurs who want a better future for their businesses and their clients because their best days of growth are still ahead of them.

Founded in 2024 in partnership with DuneGlass Capital, a healthcare services-focused independent sponsor, Aviva Aesthetics follows the distinctive equity and ownership model pioneered by DuneGlass in other high-growth medical specialties, including oral and maxillofacial surgery (OMS), orthodontic and pediatric dentistry, and vascular and bariatric surgery.

The Aviva Aesthetics network is committed to revolutionizing the landscape of medical aesthetics through exceptional medical care, a focus on innovation and collaboration, and an unwavering dedication to quality and the highest ethical standards in patient care. Visit www.avivaaesthetics.com or email [email protected] to learn more.

About Aviva Founding Doctor Leslie Apgar, M.D., and Pura Vida Med Spa & Cosmetic Laser Center
Dr. Apgar is board-certified by the American Board of Obstetrics and Gynecology and is a Fellow of the American College of Obstetrics and Gynecology. Dr. Apgar graduated from the Honors Program at Washington State University, attended Penn State University's medical school, and completed her residency in OBGYN at Penn State University, Milton S. Hershey Medical Center. After caring for so many women with skin and hair complaints, Dr. Apgar decided to fill an obvious void in the community by expanding into aesthetics. Pura Vida was created in 2008, and Dr. Apgar became the sole owner and medical director in 2013. Passionate about education and best practices, Dr. Apgar advises fellow med spa owners and physicians on evolving aesthetic technologies and business strategies in medical aesthetics and related wellness industries. Visit www.puravidamedspa.com to learn more.

About DuneGlass Capital
DuneGlass Capital is an independent sponsor that was founded in 2018 to help healthcare practices realize their full potential. With expertise in multi-unit operations, private equity deal structuring, and healthcare business strategy, the founders of DuneGlass Capital have created a repeatable process for value creation so that doctors and entrepreneurs across medical and dental specialties can turn private equity into Entrepreneur Equity™.

Having grown up in families steeped in medicine and dentistry, DuneGlass Capital executives understand the difficulties of private practice and how important it is to mentor their clinical shareholders about private equity to maximize the intrinsic value of their practices. Visit www.duneglasscapital.com or email [email protected] to learn more.

SOURCE: Aviva Aesthetics

W.Stewart--AT