Aesthetic Partners Fuels Growth Through New Partnership With Norwest
Share This Article
Practice management company focused on aesthetics market partners with global investment firm to expand into new markets
MIAMI, November 13, 2023-- Aesthetic Partners , a leading clinical aesthetics-focused practice management company, announced a strategic partnership with global investment firm Norwest to accelerate growth in new markets. With Norwest's support, Aesthetic Partners will invest in infrastructure and expansion across existing and new clinics.
Aesthetic Partners joins forces with physician-led medical aesthetics, cosmetic dermatology and plastic surgery clinics in prospering suburban markets throughout the U.S. One of the first platform entrants in the booming aesthetics market, it has added 20 practices since 2019, expanding throughout California, Florida, North Carolina and Virginia.
"Aesthetic Partners is one of the earliest players in the clinical aesthetics space and has demonstrated an exceptional track record of helping medical aesthetic, dermatology and plastic surgery practices across the country grow their businesses," said Sonya Brown, general partner at Norwest. "We are excited to partner with the leadership team on Aesthetic Partners' next phase of growth."
Norwest's Sonya Brown and Scott Mitchell will join Aesthetic Partners' board of directors. Together they bring more than two decades of investment experience that includes partnering with leadership teams to build successful clinical beauty and skincare businesses such as PCA Skin, MAËLYS, and Face Reality.
"Norwest has a reputation as a growth partner that invests in forward-thinking brands. Their commitment to partnership and collaboration mirrors our own," said Courtney Ellenbogen, co-founder and co-CEO of Aesthetic Partners. "At Aesthetic Partners, we don't acquire just to acquire –– like Norwest, we partner selectively with accomplished founders seeking to achieve industry leadership. We want to complement the expertise of our portfolio of practice leaders, which requires a more nuanced approach than brands typically experience with a traditional private equity firm. We believe Norwest is the right partner to join us in this endeavor."
Aesthetic Partners is a pioneering clinical aesthetics practice management company that selectively partners with practices to grow through expansion rather than consolidation under one enterprise. This unique strategy allows partners to maintain brand equity and foster customer loyalty at the clinic level and within the community. As part of its growth strategy, the company provides partners with a rigorous approach to talent development that includes best-in-class clinical and management training programs, promotional opportunities for high-performing members of its partner brand teams and a Medical Advisory Board comprised of physicians from partner brands, including published authors, AMI trainers and keynote conference leaders.
"Courtney and I share a competitive nature, and we extend that to our portfolio to help them succeed," said co-founder and co-CEO Faraz Karbasi. "Our partners have a deep desire to grow while holding onto what makes them great, including their teams, brands and culture. Aesthetic Partners was built to help them achieve this vision, and Norwest aligns with our mission in every way –– from their focus on supporting founders to their commitment to excellence. We are thrilled to partner with them to unlock the next phase of growth for our portfolio."
About Aesthetic Partners
Aesthetic Partners is a leading clinical aesthetics practice management company that specializes in high-end, physician-led, and patient-centric practices. Aesthetic Partners provides growth capital, functional expertise, and new location expansion support to brands within its portfolio. Incubated at Harvard and founded in 2018, Aesthetic Partners is based in Miami, Florida, and is female- and minority-owned. For more information on Aesthetic Partners, visit aestheticpartners.com or email email@example.com.
Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise, and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Menlo Park and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com.