A focused resource for med spa owners & buyers HedgeStone Business Advisors · Nationwide
THE KNOWLEDGE LIBRARY

Med spa M&A definitions

Go beyond the terminology to understand how a deal term affects the economics and the work required.

market · 7 min read

Add-On Acquisition in Med Spa M&A

Understand a med spa add-on acquisition: buyer fit, earnings, integration costs, professional continuity, deal structure, and seller offer comparisons.

valuation · 7 min read

Adjusted EBITDA for a Med Spa

Learn how adjusted EBITDA works in a med spa acquisition: earnings reconciliation, necessary staffing, recurring costs, capital needs, and buyer diligence.

valuation · 7 min read

Cash-Pay Percentage in a Med Spa

Define cash-pay percentage in a med spa, separate patient payments from insurance and financing, and assess margins, collections, privacy, and acquisition risk.

buy · 8 min read

Corporate Practice of Medicine in Med Spa Transactions

Understand corporate practice of medicine in med spa purchases: ownership, clinical control, MSO boundaries, professional entities, and transaction diligence.

valuation · 7 min read

Deferred Membership Revenue in a Med Spa

Understand deferred membership revenue in a med spa sale: reconcile prepaid benefits, compare face value with fulfillment cost, and prevent repeated deductions.

buy · 7 min read

Delegation and Supervision Agreements in Med Spas

Review med spa delegation and supervision agreements: authorized tasks, licensed roles, competency, coverage, records, and transition evidence in a purchase.

valuation · 7 min read

Device Leases and Service Contracts in Med Spa Deals

Review med spa device leases and service contracts: ownership, payment schedules, liens, assignment, maintenance coverage, and cash obligations at acquisition.

valuation · 7 min read

Device Vintage and Replacement Capex in a Med Spa

Assess med spa device vintage and replacement capex with serial-level records, service history, utilization, support, liens, and an acquisition cash plan.

valuation · 7 min read

Earnouts in Med Spa Transactions

Understand med spa earnouts: performance metrics, accounting definitions, buyer control, payment examples, reporting rights, disputes, taxes, and liquidity.

buy · 7 min read

Friendly PC and Professional Entity in Med Spa Deals

Understand the friendly PC and professional entity in med spa deals: ownership, clinical independence, management contracts, succession, and buyer diligence.

buy · 7 min read

Good-Faith Exam in a Med Spa Acquisition

Understand good-faith exam diligence in a med spa acquisition: patient evaluation, authorized clinicians, telehealth, records, and continuity before treatment.

buy · 8 min read

Gray-Market Product Risk in Med Spa Acquisitions

Investigate gray-market product risk in a med spa purchase: supplier authorization, invoices, lot records, inventory, purchasing controls, and deal evidence.

valuation · 8 min read

Indemnity Escrow in a Med Spa Sale

Understand indemnity escrow in a med spa sale: restricted proceeds, claim procedures, release dates, seller exposure, tax questions, and cash comparisons.

buy · 7 min read

Scope of Practice for Med Spa Injectables

Review injectables scope of practice in med spa acquisitions: licenses, assessment, orders, competency, supervision, ownership, and state-specific evidence.

buy · 7 min read

Letter of Intent for a Med Spa Purchase

Review a med spa letter of intent: price, payment, exclusivity, diligence, working capital, clinical structure, financing, transition, and binding-term review.

buy · 7 min read

Management Services Organization for a Med Spa

Understand a med spa management services organization: support roles, professional control, management fees, agreements, and acquisition diligence priorities.

operations · 7 min read

Marketing Cost per New Patient for a Med Spa

Calculate med spa marketing cost per new patient with defined spend and patient counts, then test attribution, refunds, contribution, privacy, and transfer.

valuation · 7 min read

Add-Backs in Med Spa Earnings

Test med spa add-backs with receipts, payroll, recurring-cost analysis, owner replacement, negative adjustments, and an earnings bridge for buyers and lenders.

buy · 7 min read

Medical Director Agreement for a Med Spa

Review a med spa medical director agreement: actual duties, legal structure, coverage, insurance, termination, and transition evidence for buyers and sellers.

operations · 7 min read

Membership Penetration in a Med Spa

Measure med spa membership penetration with clear patient and revenue bases, then test cohorts, collections, service obligations, and risk in an acquisition.

sell · 8 min read

Owner-Injector Dependence in a Med Spa

Evaluate med spa owner-injector dependence by separating clinical labor, patient relationships, management duties, and transition commitments before a sale.

market · 7 min read

Platform Acquisition in Med Spa M&A

Understand a med spa platform acquisition: the operating base, leadership, capital, diligence, growth assumptions, and seller commitments behind a transaction.

operations · 7 min read

Provider Concentration in a Med Spa

Understand med spa provider concentration: measure revenue and contribution by injector, test patient continuity, and budget replacement coverage before a sale.

valuation · 7 min read

Quality of Earnings for a Med Spa

Understand med spa quality of earnings: revenue reconciliation, provider economics, add-backs, memberships, product costs, cash needs, and deal decisions.

operations · 7 min read

Rebooking Rate in a Med Spa

Measure med spa rebooking rate with clear visit and patient rules, then test attendance, retention, contribution, capacity, privacy, and acquisition continuity.

valuation · 7 min read

Representations and Warranties Insurance in Med Spa Deals

Understand representations and warranties insurance in med spa deals: policy scope, exclusions, retention, diligence, escrow interaction, and transaction costs.

valuation · 8 min read

Rollover Equity in a Med Spa Sale

Evaluate rollover equity in a med spa sale: security class, capital structure, dilution, control, liquidity, tax questions, and the seller’s investment risk.

valuation · 7 min read

Seller’s Discretionary Earnings for a Med Spa

Understand med spa seller’s discretionary earnings: document an SDE bridge, separate owner labor from investment return, and test add-backs before pricing.

buy · 7 min read

Two-Entity Closing for a Med Spa Acquisition

Understand a two-entity med spa closing: MSO and professional entity roles, separate assets, agreements, funding, clinical authority, consents, and handoff.

valuation · 8 min read

Working Capital Peg in a Med Spa Sale

Understand the med spa working capital peg: included accounts, seasonal averages, prepaid memberships, closing adjustments, consistency, and double counting.

LET’S TALK ABOUT YOUR NEXT CHAPTER

A useful conversation.
No pressure to make a move.

Bring your questions about value, readiness, or a potential acquisition. Start with a confidential introduction.