Prime Aesthetics Group, a healthcare partnership comprised of U.S. plastic surgery practices, announces that it has acquired Beverly Hills, Calif.-based NassifMD Plastic Surgery & Med Spa.
“Since launching Prime three years ago, our vision was always to create a coast-to-coast operation, bringing unparalleled business acumen, innovation, and obsession with patient care to the entire country,” says James Chao, MD, FACS, co-founder and chief medical officer of Prime Aesthetics Group. “We’re thrilled to be fortifying our partnership with this truly iconic practice, which fits perfectly into our overarching strategy.”
NassifMD Plastic Surgery & Med Spa is a full-service cosmetic surgery practice specializing in in facial reconstruction and rhinoplasty. The practice will continue to be led by Paul Nassif, MD, a plastic surgeon and star of the E! reality series Botched, which highlights his expertise as he remedies the most extreme plastic surgeries gone wrong. Season 8 of Botched is currently under production and expected to release next spring.
“I’ve worked hard to develop a reputation in our industry and been approached countless times over the years by private equity groups interested in purchasing our practice. None of those opportunities interested me,” says Nassif. “Simply put, Prime is different. I’m truly excited to partner with Dr. Chao and all the surgeons in our group to build an organization with exceptional patient care as its cornerstone.”
To date, Prime has acquired eight practices. The company recently completed a capital investment round with White Oak Global Advisors, an alternative debt manager which has deployed more than $10 billion in transactions since 2007. Proceeds from White Oak Global Advisors have been utilized to fund the three most recent acquisitions, including Nassif, and White Oak anticipates continuing to partner with Prime on future similar acquisitions.