January 8, 2024
LOS ANGELES — January 8, 2024 – United Aesthetics Alliance (“UAA” or “the Company”), a holding company created to consolidate market-leading, clinically differentiated plastic surgery practices and affiliated medical spa service providers, today announced it has recently established a new partnership with The Bengtson Center for Aesthetics & Plastic Surgery (“BCAPS” or “the Practice”). Based in Grand Rapids, MI, BCAPS is a premier plastic surgery and aesthetics provider in West Michigan led by two renowned board-certified plastic surgeons, Drs. Brad Bengtson and David Alfonso.
“The surgeons and leadership at BCAPS are extremely excited to build a national platform of the top aesthetic practices, which are together developing best practices, in partnership with UAA,” said Dr. Bengtson. “We were drawn to UAA because of our shared synergies and, most importantly, their continued focus on prioritizing patients and facilitating opportunities to further expand their experiences.”
BCAPS specializes in aesthetic plastic surgery and medical spa services and recently launched New Vista Hair Restoration Center, expanding its surgical and non-surgical offerings. Since its founding over 15 years ago, BCAPS has earned a strong reputation for excellent surgical outcomes, state-of-the-art non-surgical technology and treatments, and ensuring safe, consistent, and exceptional patient experiences.
“Our partnership with UAA will help facilitate our continued growth and allow us to expand our presence to enhance and grow a regional destination for aesthetic procedures. In addition, the commitment of UAA to partner with highly credentialed practices made them a natural fit for us,” said Dr. Alfonso.
This transaction, together with UAA’s recently completed partnership with Edina Plastic Surgery (EPS), validates UAA’s strategy of deliberate growth in select secondary and tertiary markets while sustaining its highly selective approach to new market entrance and commitment to partnering with market-leading, clinically innovative cosmetic practices seeking to catalyze growth. UAA continues to make significant enterprise-level investments in its managerial and operational capacity, including high-impact, growth-specific executive hires and sophisticated direct-to-consumer marketing technology, which are expected to enhance the imminent growth opportunity for EPS, BCAPS, and other UAA partner practices.
UAA is sponsored by Varsity Healthcare Partners, a lower middle-market healthcare services private equity investment firm with deep expertise and a long track record of building multi-state physician practice management platforms. Skytale Group acted as the exclusive investment banking advisor to The Bengtson Center for Aesthetics and Plastic Surgery and Symmetry MedSpa in the transaction, with Dykema Gosset PLLC acting as legal advisor. Massumi + Consoli LLP and Morgan Lewis & Bockius LLP acted as legal advisors to UAA and Varsity.
ABOUT BENGTSON CENTER OF AESTHETICS AND PLASTIC SURGERY
Over the past 15 years, The Bengtson Center Associated with its Symmetry Medical Spa has grown into one of the top aesthetic focused plastic surgery practices in the country. With the addition of Dr. David Alfonso in May of 2019 and another surgeon expected to join the practice in summer of 2024, BCAPS has been expanding its surgical offerings and continues to provide top tier technologies and products, advanced aesthetic procedures, all in an incredibly beautiful and welcoming environment. They are dedicated in joining their patients on their surgical and non-surgical journey, helping each patient achieve their optimal aesthetic goals. Their “patient centric” focus is completely synergistic with Varsity Healthcare Partners’ new UAA platform who also believe aesthetic plastic surgery and life is all about maximizing patient relationships. The name, look and feel will remain unchanged, as will be their commitment to providing the absolute best experience – every single time.
ABOUT VARSITY HEALTHCARE PARTNERS
Varsity Healthcare Partners (VHP) is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs, and management teams to build leading healthcare services companies. VHP’s tactical investment strategy emphasizes identifying and transacting with growth-seeking, provider-owned or founder-owned companies, leveraging VHP’s developed “buy and build” playbook to drive significant operational, managerial enhancement early in the life of each platform investment, followed by a well-resourced aggressive and multidimensional growth plan. VHP’s unique tactical investment playbook and strong track record is complemented by VHP’s distinct organizational culture, emphasizing highly collaborative engagement, strong professional accountability, and a commitment to excellence in work product and team performance.
Drs. Brad Bengtson and David Alfonso