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- Actress Drew Barrymore Gets Real with Modern Aesthetics®
- New In My Practice | Cosmeceuticals: Cearna’s OcuMend Pads
- New In My Practice | Devices: Trusculpt ID from Cutera
- Beauty Counter MD/New Products
- Women In Aesthetics: Pat Altavilla
- In Focus: Launching Ideas
- FLASH Technique: A Quick Fix for Targeted Fat Pockets
- Omne Trium Perfectum
- Permanent Iris Color Change
- What’s Your Exit Strategy?
- Parlor Talk: Inside A New Service Model
- “Turn-Key” Hair Restoration Requires Caution: The Specialist’s Perspective
- Opioid-Free: A Better Way to Recover
- Get Patients to Book and Pay in Full at the Time of Consultation
- Virtual Voice: Verified: Helping Patients Understand the Importance of Credentials
- Business Advisor: Recruit a Winning Team
- Three Ways: Summer Slumps: How Can You Sail Through?
- Aesthetic Marketing Management: So You Think You Can Blog
- Financial Planner: Are You Protecting Your Greatest Asset?
- Coming and Going
In Focus: Launching Ideas
OrangeTwist COO Reflects on company strategy, growth
Dr. Robert Singer Receives ASERF Career Achievement Award
La Jolla, CA-based plastic surgeon Robert Singer, MD, FACS received The Aesthetic Surgery Education and Research Foundation’s (ASERF) Career Achievement Award.
The Award, which was presented to Dr. Singer at The Aesthetic Society’s annual meeting in New Orleans, is given to select physicians who represent the aesthetic plastic surgery specialty’s most influential surgeons and researchers. This award has been given only eight times previously. ASERF is the research and education arm of the Aesthetic Society.
Dr. Singer is a past-president of both The Aesthetic Society and ASERF (of which he was a co-founder) and has served on numerous committees. He is also past-president of the California Society of Plastic Surgeons.
“Robert Singer has a long history of service to our entire specialty and to The Aesthetic Society, in particular,” says Dan Mills, MD, a plastic surgeon in Laguna Beach, CA, and past-president of the Aesthetic Society.
“Robert Singer is a true servant to the specialty, having devoted countless hours to our organizations as well as the American Association for Accreditation of Ambulatory Surgery Facilities (of which he is also a past-president),” adds Robert Whitfield, MD, current ASERF President. “He is an outstanding surgeon, educator, and philanthropist.”
Private Equity in Plastic Surgery and Dermatology
Plastic Surgery is moving into the consolidation game with another deal by Viper Equity Partners of Palm Beach, FL.
Viper says it was instrumental in a deal merging their client Aqua Plastic Surgery with Water’s Edge Dermatology backed by Gryphon Investors of San Francisco.
Aqua, a plastic surgery practice with three offices in Jupiter, Fort Lauderdale, and Miami, FL, will augment the skin cancer and reconstructive surgical capability of Water’s Edge, a provider of comprehensive dermatology services through 37 Florida locations. Led by plastic surgeon David Rankin, MD, Aqua will continue to operate under its existing name. “I am so happy to partner with Water’s Edge. The business of plastic surgery coming together with dermatology was inevitable. We have aggressive plans for the future, and I am happy to be part of this stellar team,” says Dr. Rankin in a news release. “Viper’s vision was instrumental in facilitating my deal and will be a key transition resource moving forward for plastic surgeons nationwide.”
“Viper is the front-running boutique M&A intermediary making consolidation of plastic surgery as mainstream as dentistry, a space we dominate,” says Viper Founder and Principal David Branch. “So far, Viper has aligned itself with cutting-edge plastic surgery offices in Chicago, New York City, and South Florida to create three geographically friendly verticals for private equity focus. Florida has launched, and New York City offices are under contract.”
Nina Das, Viper’s Vice President of M&A, adds, “The bottom line is that plastic surgeons have highly profitable and branded practices built for scale, easy to cross over into dermatology, and plain sailing to roll up. I am delighted to be heading the charge at Viper to aid dermatology platforms acquire plastic surgery and dermatology practices in the Southeast, and I look forward to growing our novel Dermatology and Plastic Surgery Division with our private equity-backed partners who understand that cosmetic surgery and skincare are not only critical to consumers but also a phenomenal consolidation play.”
ORANGE IS THE NEW MEDSPA
Orange Twist COO Reflects on company strategy, growth
BY DENISE KEELER, CHIEF OPERATING OFFICER OF ORANGETWIST
The non-invasive aesthetic industry is growing and expected to reach $10B by 2020, according to the Medical Aesthetics Market by Products, Procedures, & End-Users- Global Forecast. As it stands, the marketplace is comprised of small one-off med spas or additions to a plastic surgeon’s office; in short, the space is very fragmented.
OrangeTwist started out as a predominantly body contouring focused med spa, solely offering CoolSculpting procedures. We still use this technology, however, we learned quickly that we can’t be a one-trick pony. To culture a loyal client base, we needed to look at and integrate other services that keep people coming back. We have since curated a menu of services that encompass body contouring, skin tightening, skin rejuvenation, wrinkle reduction, collagen production, and skin resurfacing.
OrangeTwist is unique in that it does not have “laser” or “sculpting” in the name. We are a retail chain. We spend money on marketing, facilities, our team and, most importantly, the client experience. If you spend it, there is a key performance indicator measurement for it and we track it. Our teams are trained to follow the four Ps of marketing: product, price, place, and promotion, all while emphasizing the client experience.
Even though we are “doctor light,” we are very heavy on protocol. We encourage the client to come in, trust our team and have confidence in what we do. Non-invasive/ minimally invasive is safe and efficacious. We have standard operating procedures and a professional scope of practice which all employees, at all levels, are expected to follow and escalate. Our team of medical directors are board-certified plastic and facial plastic surgeons, and they are onboarded for medical oversight of the business. OrangeTwist also engaged with a call center from day one. The call center works as our ambassador and extended team to ensure the client feels confident in his/her decision to come to OrangeTwist.
OrangeTwist started at one center four years ago and has grown to 15 centers to date. We are now the fourth largest CoolSculpting provider and the second largest HydraFacial independent customer. We attribute much of this success to treating this as what it is: a business. We have raised a combined $20 million dollars and have invested in the building of the foundation that holds true to the OrangeTwist experience from marketing to facility to trainings to consistent services and ensuring everyone gets best-in-class treatments.
Recently, we announced our partnership with Sephora and look forward to growing this relationship in the retail space. We have proven that our clients enjoy the retail drive-up approach and that convenience is important to them. We continue to prove that this is the next big thing like hair and nails. Easy maintenance of one’s self by making it affordable and attainable is sexy.
Automation is a common word at most of our leadership meetings. We use the spa technology platform Zenoti to digitally keep track of medical records, customer relationship management, point-of-sale and tableau reporting capabilities. This type of platform is imperative to innovating our next business decision.
We will continue to build out our brick and mortars and open new markets, but first want to cluster our current markets so we can leverage our marketing efforts and staff. Obviously private equity is not out of the question. Neither is an Initial Public Offering.
Denise Keeler is the Chief Operating Officer of Orange Twist.