NEW YORK--(BUSINESS WIRE)--VSS Capital Partners (“VSS”), a private investment firm investing in the healthcare, education, and business services industries, today announced that it has made a growth capital investment in Olympus Cosmetic Group (“the Company” or “Olympus”), a newly formed platform providing comprehensive cosmetic surgery, dermatological treatments and non-surgical cosmetic procedures. Financial terms of the private transaction were not disclosed.
Headquartered in Jacksonville, Fla., Olympus’ credentialed doctors specialize in providing a complete range of face lift, abdominoplasty, breast augmentation, breast lift, liposuction, injectables, non-surgical aesthetic treatments and body contouring, among others, from state-of-the-art facilities.
“We are excited to support this leadership team with the formation of Olympus’ highly scalable platform,” said Patrick Turner, Managing Director at VSS. “Our investment in Olympus reflects VSS's experience in partnering with practice management organizations led by doctors who bring years of procedural experience to their practices.”
Olympus, structured as a Management Services Organization, is led by an experienced and board-certified physician team who have established clinical reputations: Dr. Erik Nuveen of Cosmetic Surgery Affiliates; Dr. Alberico Sessa of Sarasota Surgical Arts; and Dr. James Koehler of Eastern Shore Cosmetic Surgery (collectively, the “Founders”).
“Olympus is committed to delivering the highest quality outcomes to its patients and establishing itself as the acquiror of choice for leading cosmetic procedure groups throughout the United States,” said Brad Corbin, Principal at VSS Capital Partners. “We are excited to form a premier physician-owned platform in partnership with the Founders for cosmetic surgery practitioners who stand to benefit from access to our platform’s corporate infrastructure and shared services,” added Aditya Govil, Vice President at VSS.
The demand for cosmetic surgery and medical spa procedures continues to increase nationwide. The U.S. plastic surgery market is estimated to total $26.6 billion in 2022, which has grown 7% per year on average between 2017 to 2022, according to market research.
VSS has experience partnering with growing physician practices and building regional and national healthcare delivery networks with administrative support services, including the Center for Rheumatology, a Los Angeles-based provider of Rheumatology services; Pacesetter Health, a St. Louis-based provider of Podiatry services; Specialty 1, a Houston-based provider of Specialty Dental services; Ambulatory Management Solutions, a Chicago-based provider of turnkey Ambulatory-only Anesthesia services, among others.
Lodestone Advisors served as financial advisor and McDermott Will & Emery provided counsel to the Founders, while Holland & Knight provided counsel to VSS.
About VSS Capital Partners
Headquartered in New York, VSS is a private investment firm that invests in healthcare, business services and education companies. Since 1987, VSS has partnered with lower middle-market companies, working closely with management teams, to facilitate their next stage of growth. VSS provides capital for growth financings, recapitalizations, strategic acquisitions, and buyouts with the flexibility to invest control or non-control capital, based on the needs and objectives of each company. VSS has managed $4 billion in committed capital across 8 funds and has completed 96 platform investments and over 400 add-on acquisitions. For more information, please visit: www.vss.com.
About Olympus Cosmetic Group
Olympus is a provider of cosmetic surgery and cosmetic dermatology procedures. Olympus is led by Dr. Erik Nuveen, Dr. Alberico Sessa and Dr. James Koehler with an initial footprint which includes Florida, Oklahoma, and Alabama.