Guide to Selling a Plastic Surgery Practice in Florida

The decision to sell your plastic surgery practice is one of the most significant of your career. In Florida, a dynamic and high-demand market, this decision comes with unique opportunities and complexities. The current landscape is active, with sophisticated buyers seeking to invest in well-run practices. This guide is for you if you’re considering a sale and want to understand how to navigate the process to achieve the best possible outcome for yourself, your staff, and your legacy.

Market Overview

Florida’s market for plastic surgery is one of the most robust in the country. The state’s demographics, reputation as a top destination for cosmetic procedures, and business-friendly climate make it a primary target for acquisition. Buyers, ranging from large multi-state MSOs to private equity (PE) firms, are actively seeking to expand their footprint here. This high level of interest creates a competitive environment, which can drive up practice values. However, these buyers are also professional investors. They perform deep analysis and expect a practice to have its financial and operational house in order. Selling in this environment means you are not just selling a practice; you are presenting an investment opportunity.

Key Considerations for Florida Sellers

When preparing your plastic surgery practice for a sale in Florida, buyers will look beyond your revenue figures. They are assessing the quality and durability of your business. Understanding these factors is the first step toward maximizing your valuation.

Your Provider Model

Is your practice built entirely around you, or do you have associate surgeons who drive a significant portion of revenue? Practices that are not dependent on a single owner are seen as less risky and more scalable, which often results in a higher valuation multiple.

Your Revenue Mix

Buyers analyze the breakdown of your revenue. A healthy mix of surgical and non-surgical procedures, including recurring treatments like injectables, often signals a stable and diverse patient base. In Florida, a strong cash-pay component is attractive, but a demonstrated ability to also work with insurance for reconstructive procedures can broaden your appeal.

Your Operational Infrastructure

A practice with clean, transparent financials, efficient scheduling systems, and a well-documented marketing strategy is far more attractive. Buyers pay for proven systems, not potential. They want to see an operation they can step into and grow, not one they have to fix.

Market Activity

The M&A market for aesthetic practices is currently active. We are seeing a continued trend of consolidation, where smaller practices are being acquired by larger strategic platforms. Private equity investors, in particular, see the aesthetic space as a high-growth area that is resistant to many economic downturns. They are typically looking for “platform” practices well-established, profitable businesses with over $1M in EBITDA that they can use as a base for future acquisitions. For smaller practices, being acquired by a PE-backed MSO can provide access to capital and resources you might not have otherwise. This activity means that right now is a favorable time for owners to explore their options, as competitive tension among buyers often leads to premium valuations.

The Sale Process

Selling a practice is not a single event but a multi-stage process. Each step requires careful preparation and execution to protect your interests and prevent the deal from falling apart. A misstep at any stage can cost you time and money. While every transaction is unique, a typical sale follows a structured path.

This structured process ensures you are negotiating from a position of strength.

How Your Practice is Valued

Your practice is worth what a buyer is willing to pay for it, and that price is typically based on a multiple of its true profitability. The key metric here is Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). This isn’t just the profit on your tax return. We calculate it by taking your net income and adding back owner-specific personal expenses, above-market owner salary, and other one-time costs to show the practice’s real cash flow. For example, a practice showing $500,000 in profit might have an Adjusted EBITDA of $700,000 or more after these adjustments. Buyers then apply a multiple to that number, which can range from 3.5x to over 8.0x, depending on your practice’s size, growth trajectory, and risk profile. Getting this calculation right is the foundation of a successful sale.

What Happens After the Sale?

A successful exit strategy goes beyond the sale price; it defines your life after the transaction. Too many owners focus only on the valuation number and neglect to plan for what comes next. Structuring the deal correctly is where you can protect your long-term interests.

Your Future Role

Do you want to leave immediately, or would you prefer to continue practicing for a few years with less administrative burden? Many deals, especially with private equity, involve the selling physician staying on. These roles can be structured to maintain your clinical autonomy while freeing you from the day-to-day hassles of running a business.

Protecting Your Legacy and Team

The buyer’s plan for your staff and your brand is a critical part of the negotiation. A good advisor helps you find a partner whose culture aligns with yours and who is committed to retaining your key employees. The transition should feel like an evolution, not an erasure of what you have built.

The “Second Bite of the Apple”

Many deals today are not 100% cash. You may be asked to “roll over” a portion of your proceeds into equity in the new, larger company. While this involves risk, it also provides the opportunity for a second, often larger, payout when the MSO or PE firm sells again in 3-5 years.