Albuquerque MedSpa & Primary Care Clinic, 12-Year New Mexico Practice

$1.9M

Revenue

$575K

SDE

4.3x

Multiple

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Full Editorial Writeup

This is a two-part healthcare asset in Albuquerque: a 12-year-old medical spa that positions itself as a top-three MedSpa in New Mexico, paired with an affiliated primary care corporation. The MedSpa drives most of the visible activity, having served more than 3,000 clients with a strong repeat base, delivered through 5 medical procedure rooms, 6 professional lasers, and a trained clinical and front-desk team of 7 full-time employees. The business runs out of a remodeled 2,090 sq. ft. leased office at $4,000 per month.

The quiet second engine here is the primary care side. It carries an EHR with over 20,000 past patients and live billing capability with most major insurers, Medicare, and Medicaid. That infrastructure is the real optionality: aesthetic cash-pay revenue layered on top of a credentialed, insurance-billing medical platform that a buyer could reactivate or expand into additional specialties.

At $2.5M on $1.9M revenue and $575K cash flow, the deal is a 4.35x SDE multiple with $150K inventory and $300K of FF&E (including six lasers) included. The seller is retiring and the full team intends to stay through transition, which de-risks continuity. The catch for diligence is understanding how much of that $575K comes from the cash-pay MedSpa versus the insurance-billing clinic, and how dependent the aesthetic revenue is on the departing owner's reputation and injectors.

Why we like it

Earnings quality looks solid on paper: $575K cash flow on $1.9M revenue is roughly a 30% margin, which is consistent with a well-run cash-pay aesthetics practice. The listing claims 12 years of steadily increasing revenue and a 3,000+ client base with strong repeat behavior, which supports the margin story if verified.
The moat is the dual structure. Aesthetic cash-pay revenue sits on top of a credentialed primary care entity with an EHR of 20,000+ patients and active Medicare, Medicaid, and commercial insurance billing. That insurance infrastructure is expensive and slow to build, and it gives a buyer a second monetization lane most standalone MedSpas never have.
MedSpa demand has strong secular tailwinds, with injectables, lasers, and aesthetic services growing double digits for years and skewing toward recurring treatment cycles. Botox and filler clients return every three to four months, which creates a de facto subscription rhythm even without formal memberships.
The operator advantage is unusually clean for a retirement sale. The management, front-desk, and clinical team intend to stay, six lasers and five procedure rooms are turnkey, and documented systems exist for marketing, scheduling, and EMR. A buyer with a provider or a hired medical director can step in without rebuilding the back office.

How to improve it

Launch a formal membership and treatment-plan program within 90 days to convert the repeat client base into contracted monthly revenue. Pre-paid Botox and laser packages smooth cash flow, increase visit frequency, and raise the terminal value of the business by making revenue more predictable.
Reactivate the dormant primary care asset. With an EHR of 20,000+ patients and live insurance and Medicare/Medicaid billing, a buyer could add medical weight-loss (GLP-1), hormone therapy, and wellness programs that bill through existing credentials, converting underused infrastructure into high-margin revenue.
Add provider capacity to break the owner-dependency ceiling. The practice runs on a small team; hiring one or two additional injectors or nurse practitioners lets the business serve more of the existing 3,000-client base and capture demand currently turned away during peak periods.
Tighten and digitize marketing. The business leans on billboards, website, text, and email; shifting spend toward targeted social, before-and-after content, and paid search with tracked cost-per-acquisition would lower client acquisition cost and make growth repeatable rather than reputation-dependent.
Build a recurring skincare and retail product line attached to each treatment. Medical-grade skincare attachments on injectable and laser visits add 15 to 25% to ticket size at high margin and increase the number of monthly touchpoints with each client.
Negotiate or lock the lease on favorable terms before close. At $4,000 per month for 2,090 sq. ft., rent is modest, but a buyer should secure a long-term lease with renewal options so the location and build-out investment are protected post-acquisition.
Separate and report the financials of the MedSpa versus the primary care entity. Clean, segmented P&Ls make it obvious which lane drives cash flow, improve the buyer's ability to expand the weaker side, and raise the business's value at eventual resale.

Diligence notes

Break down the $575K cash flow by entity. The listing bundles a MedSpa and a separate primary care corporation, so confirm how much profit comes from cash-pay aesthetics versus insurance-billed medical work, and whether the primary care side is currently active or largely dormant infrastructure.
Scrutinize owner and provider dependency. A retiring seller in aesthetics often is the injector or medical director clients follow; verify who holds the medical license and supervising-physician role, how much revenue is tied to the departing owner personally, and what credentialing a new owner must secure.
Validate the repeat-client and revenue claims with raw data. Pull three years of tax returns and monthly revenue, confirm the 3,000-client and 20,000-patient figures against the EHR, and measure actual repeat visit frequency rather than relying on the 'steadily increasing' narrative.
Confirm regulatory and compliance posture. MedSpas face scrutiny over physician supervision, scope of practice, and corporate practice of medicine rules; review state licensing, any malpractice history, and whether the insurance/Medicare/Medicaid billing has clean audit and compliance records.
Assess the laser and equipment condition and age. Six professional lasers carry meaningful replacement and service costs; verify service contracts, remaining useful life, and whether any flagship devices are near end-of-life and would require near-term capital expenditure.
Clarify the staffing arrangement post-close. The team's continuation is 'subject to mutually agreed employment arrangements,' so confirm key employees are under enforceable terms, understand current compensation, and assess retention risk if the owner's relationships are what hold the team together.

Source

Originally listed on BizBuySell. View original listing →