The consolidation of independent medical spas and aesthetic practices has accelerated over the past three years, driven by PE capital seeking recurring-revenue, high-margin businesses with defensible unit economics. Understanding the active buyers, their acquisition multiples, and their strategic positioning helps you calibrate your own valuation, recognize when a serious offer is competitive, and decide whether a sale aligns with your practice's trajectory. This page tracks the major platforms and their recent activity—not as investment advice, but as market intelligence for owners evaluating their options.