Key Takeaways
- • Practice Transitions Group facilitated the partnership between Preva Aesthetics, a two-location Denver and Encinitas-based MedSpa, and Alpha Aesthetics Partners, a portfolio company of healthcare-focused private equity firm Thurston Group, with Lauren Wheeler serving as lead sell-side advisor.
- • Preva Aesthetics, founded by Michelle Paty, built two high-performing locations over four years using a clinical mentorship and business development model that emphasizes team-based aesthetic medicine delivery and independent producer capacity.
- • Alpha Aesthetics Partners has scaled to 36 locations across 12 states since its 2023 founding and recently secured $93 million in financing from Manulife Investment Management to support continued platform growth and partner practice investments.
- • The transaction reflects continued consolidation in the aesthetic medicine sector, with established private equity platforms acquiring regional MedSpa operators to build scaled platforms with diversified geographic footprints and operational systems.
Summary
Practice Transitions Group announced the successful partnership between Preva Aesthetics and Alpha Aesthetics Partners on May 19, 2026, marking another strategic consolidation in the aesthetic medicine sector. PTG served as exclusive sell-side advisor on the transaction, with senior advisor Lauren Wheeler leading the engagement. The partnership combines Preva Aesthetics' two-location MedSpa operation with Alpha Aesthetics Partners' rapidly expanding platform, backed by private equity firm Thurston Group.
Preva Aesthetics operates locations in Denver, Colorado and Encinitas, California, and was founded by Michelle Paty, who built both facilities over a four-year period. The company has differentiated itself through a team-based approach to aesthetic medicine centered on clinical mentorship and business development integration. According to Wheeler, the transaction outcome reflected Paty's strategic clarity and decisive approach to growth positioning.
Alpha Aesthetics Partners, launched in 2023, has grown significantly to 36 locations across 12 states. The platform's growth trajectory recently accelerated following a $93 million financing round led by Manulife Investment Management, capital earmarked for continued expansion and investment in partner practices. This funding provides Alpha with substantial dry powder to pursue similar add-on acquisitions and organic development across its geographic footprint.
The transaction underscores sustained investor appetite for scaled aesthetic medicine platforms capable of achieving multi-location operational efficiencies while maintaining clinical quality and producer productivity. Preva Aesthetics' emphasis on independent producer capacity and team development aligns with institutional investor priorities in the MedSpa consolidation thesis.
Preva Aesthetics operates locations in Denver, Colorado and Encinitas, California, and was founded by Michelle Paty, who built both facilities over a four-year period. The company has differentiated itself through a team-based approach to aesthetic medicine centered on clinical mentorship and business development integration. According to Wheeler, the transaction outcome reflected Paty's strategic clarity and decisive approach to growth positioning.
Alpha Aesthetics Partners, launched in 2023, has grown significantly to 36 locations across 12 states. The platform's growth trajectory recently accelerated following a $93 million financing round led by Manulife Investment Management, capital earmarked for continued expansion and investment in partner practices. This funding provides Alpha with substantial dry powder to pursue similar add-on acquisitions and organic development across its geographic footprint.
The transaction underscores sustained investor appetite for scaled aesthetic medicine platforms capable of achieving multi-location operational efficiencies while maintaining clinical quality and producer productivity. Preva Aesthetics' emphasis on independent producer capacity and team development aligns with institutional investor priorities in the MedSpa consolidation thesis.
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