Dermatology & Aesthetics M&A: Buyers Roundtable: Strategic and Private Equity Perspectives for Practice Owners

In this episode of Bundy Group Insights, Managing Directors Clint Bundy and Drew Thomas bring together two seasoned acquirors in the dermatology and medical aesthetics market: Darcie Surinak, President of AYA Medical Spa, and Evan Heflin, Principal at Gryphon Investors. Both guests offer unique and practical perspectives on the current transaction landscape, what drives valuations, and the characteristics that differentiate high-performing dermatology practices and medical spa platforms.

Together, they explore the rapidly evolving market dynamics in aesthetics and dermatology, including how private equity continues to shape deal structures, competitive tension, and long-term value creation. The conversation dives into operational excellence, leadership continuity, scalability, and the metrics buyers prioritize when evaluating potential acquisitions.
Listeners will gain a clearer understanding of how sophisticated strategic buyers and growth-focused private equity groups approach the sector—and what practice owners can do today to prepare for a successful M&A process and maximize long-term enterprise value.

What You'll Learn in This Episode:

• Details about Eagle Merchant Partners, owner of AYA Medical Spa, and Gryphon Investors, owner of Aqua Dermatology.
• Current valuation and competitive trends shaping dermatology and aesthetics M&A.
• The attributes buyers look for in top-performing dermatology practices and medical spa platforms.
• How strategic acquirors and private equity groups differ in their investment philosophies, growth strategies, and culture-building approaches.
• The operational, financial, and clinical metrics that most impact scalability and long-term enterprise value.
• Common mistakes sellers make when preparing to enter the market—and how to avoid them.
• Where leading buyers see the greatest opportunities for expansion over the next 3–5 years.
• Best practices for owners planning for a future sale or seeking to optimize long-term value creation.

This episode offers actionable insights for:

• Dermatology practice owners
• Medical spa operators and clinical leaders
• Investors and industry executives
• Entrepreneurs considering a sale or partnership
• Healthcare practice owners preparing to scale, professionalize or exit their businesses

Whether you're contemplating a near-term exit or planning long-term growth, this roundtable provides a grounded look into what truly drives buyer interest and value in today's dermatology and aesthetics marketplace.

ℹ️ Learn more about Bundy Group by visiting https://bundygroup.com.