NEW YORK, Jan. 7, 2019 /PRNewswire/ — Vesey Street Capital Partners, LLC (“VSCP”), a New York-based healthcare services private equity firm, announced that funds managed by VSCP have completed a recapitalization of Elite Body Sculpture (“EBS” or the “Company”), a founder-led, innovative physician services business that is a leading provider of minimally invasive body sculpting procedures. Founded in 2012, EBS utilizes its patented, exclusive AirSculpt™ technology to provide the highest quality fat removal and transfer services. Terms of the transaction were not disclosed.
“I chose to partner with the VSCP team because of their deep healthcare services expertise, their understanding of the value of the AirSculpt™ technology, and our shared goal of improving the lives of as many patients as we can,” added Dr. Aaron Rollins, Founder & CEO of EBS. “The future for EBS is incredibly bright and I’m excited to continue leading the Company as it embarks on its newest era of growth.”
“Very few healthcare services businesses combine a dynamic physician founder, an exemplary operating model, and a clear path for future growth, with a central mission of helping patients lead healthier and happier lives,” said Adam Feinstein, Managing Partner of VSCP and Chairman of EBS. “We’re thrilled to partner with Dr. Aaron Rollins and the Elite team to enhance the company’s operations, to lead corporate development efforts, and to create value for all stakeholders.”
VSCP and affiliates, in addition to rollover from Dr. Rollins, contributed the equity for the transaction. THL Credit and Morgan Stanley Credit Partners provided debt financing to support the transaction and Lowenstein Sandler served as legal counsel to VSCP. BMO acted as financial advisor to EBS.
ABOUT ELITE BODY SCULPTURE
Elite Body Sculpture is a leading provider of minimally invasive body sculpting procedures. Through its proprietary AirSculpt™ technology, Elite Body Sculpture specializes in providing minimally invasive fat removal and fat transfer procedures. The procedure requires no needle, scalpel, stitches, or general anesthesia and provides for the shortest known recovery times in the industry. The company has headquarters in Miami, FL and procedures are currently provided across seven facilities in five states (CA, GA, IL, NY, and TX). For more information, please visit www.elitebodysculpture.com.