John Wheeler sits down with Benjamin Hernandez of Skytale for a deep dive into the evolution of M&A in medical aesthetics, from the early consolidation rush of 2022 to the more disciplined market shaping deals today. Benjamin shares how Skytale became active in the space, why private equity became interested in med spas, and how the market shifted from fast land grabs to deeper diligence, stronger operators, and higher-quality assets.
The conversation breaks down the forces changing today's deal environment, including interest rates, leverage, EBITDA, provider risk, GLP-1 revenue, patient retention, employee retention, margins, market density, and the difference between selling a business and building a true partnership. John adds the Alpha perspective, explaining why great platforms need more than stacked EBITDA. They need integration, culture, same-store growth, strong data, and partners who still want to lead.
Thanks, Benjamin, for bringing clarity to the state of aesthetics M&A and what great practice owners should understand before thinking about scale, partnership, or valuation.
LEARN MORE ABOUT BENJAMIN HERNANDEZ:
https://www.instagram.com/ben.skytale/
https://www.instagram.com/skytalegroupllc/?hl=en
https://www.linkedin.com/in/g-benjamin-hernandez-385a586/
https://www.linkedin.com/company/skytale-group/
https://skytalegroup.com/our-team/
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