Welcome to DAG
“Selling a practice is more than putting together a CIM with pictures of the office with stats on a number of appointments of revenue trends; it is understanding the market dynamics, the attractiveness of your area, the buyers in your area, cultural fit, as well as how to match-make the seller’s assets with the buyer’s strategy.”
Scott Boyd, Managing Director
Our Story
Scott Boyd, founder, and Managing Director of DAG, has spent a career in dermatology and aesthetic space in various leadership roles, culminating in unique skills that provide value to sellers and buyers in the aesthetics industry.
Having played roles in National Sales and Mergers and Acquisitions both on the buy and sell sides, Scott has amassed unparalleled experience in over 130 transactions involving dermatology and aesthetic practices.
Having spent his recent career as Vice President of Business Development, Mergers, and Acquisitions at Birch Medical Spa as well as previously the National Director of Business Development & Acquisitions and Manager of Business Development for Advanced Dermatology, another PE-backed consolidator, Scott was involved with numerous transactions for the buyer, understanding key tactics in negotiation, transaction structure, legal agreements, earn-outs, rollovers and how to use information, competition and negotiation to close sales.
With his extensive knowledge and background, Scott is dedicated to representing sellers in the dermatology and aesthetics industry. He takes pride in understanding each client’s business and goals, as well as the competitive landscape in the seller’s market. By analyzing information about buyers, recent sales, and market dynamics, Scott ensures the best options for the seller, including price, cultural fit, opportunity, and roles for the seller post-transaction. Tapping a vast network of sales reps and former colleagues in the aesthetic industry, Scott uses this unique access to information about a market and players to create a strategy
for both the sellers and buyers to more consummated deals. His creative solutions and structured earnouts optimize the timing of sales, demonstrating his commitment to the seller’s interests.
Whom We Serve
DAG services the US market in dermatology, plastic surgery, med spa, and wellness. While the dermatology market is more mature, more transactions today are in the Med Spa and aesthetic space, where many new platform buyers are entering various markets. This space represents a far less consolidated market than dermatology, which is now in its 18th year of consolidation.
The aesthetic industry is in its infancy, and there is much to consolidate; this reminds me of 2010 in dermatology when it was the early days of the consolidation. Soon, the buyers became more sophisticated, and target selections, deal multiples, more complicated structures, and rollover equity requirements all went through a predictable cycle as the relative market penetration increased.
Scott Boyd, Managing Director
Why Choose DAG
What differentiates our service from other brokers?
Unlike many brokers or advisors, DAG only focuses on the aesthetic space; we don’t broker dental deals, we don’t broker vet deals or mental health. Many brokerage firms cast a wide net representing any medical practices or adjacent fields like dental to advise more clients, irrespective of their knowledge about the space.
Our experience is our difference as we draw from over 30 years in the dermatology and aesthetic space. We understand critical metrics on the aesthetic space, key expectations for margin and the revenue per injector, and crucial metrics on growth or toxin compliance that will show a buyer you have excellent retention. We can identify critical metrics on new and existing patient volume that show your efficiency in not requiring a lot of marketing costs to drive growth. We understand key LTV statistics on revenue lines, which help to determine how much leakage there is in your critical lines of revenue like injectables. Why go with someone who only knows the space and a cursory level?
Why engage a broker using consultants with little industry experience to produce a superficial CIM with high-level KPIs, your lease information, Goole Rating, or pictures of your office? This is window dressing and will not give you the most value for your practice, nor will this approach identify critical areas of weakness that you may need to correct before signing a letter of intent or identify key strengths that could be positioned to get your practice a higher valuation.
Free Assessment of your relative readiness for sale
Many brokerage firms will provide you with optimistic and unfounded claims about value only to walk back valuation numbers after the practice has signed an exclusive listing agreement. This all-to-common approach, unfortunately, ties up the seller and leaves the buyer in a situation where they don’t know what they can do until they perform extensive analysis during the CIM production and accounting review. DAG performs a no-cost diagnostic that allows us to see key trends in your revenues, providers, appointments, patient retention, pricing, conversion, capacity, and appointments to see whether we think your practice is marketable or whether you should defer selling your practice until a time in the future. Unlike other brokerage firms, we provide this at no cost and without commitment. You won’t have to sign an exclusive listing agreement; your review is yours.
Partnerships with relevant transaction experience
Scott has identified vital partners, technology companies, accountants, and transaction attorneys who are experienced and used throughout the sales process. Knowing competent mergers and acquisition attorneys with experience with PE buyers can facilitate a deal. Knowing a network of accounting firms with relevant expertise for stages of the sale, like the quality of earnings, can expedite part of the review. Scott has also partnered with key leading aesthetic analytics partners that can help in the sale and staging processes if your practice is still premature for a listing.
Partnerships with aesthetic analytics and technology companies that can help identify metrics and can help during staging
Scott has identified vital partners, technology companies, accountants, and transaction attorneys who are experienced and used throughout the sales process. Knowing competent mergers and acquisition attorneys with experience with PE buyers can facilitate a deal. Knowing a network of accounting firms with relevant expertise for stages of the sale, like the quality of earnings, can expedite part of the review. Scott has also partnered with key leading aesthetic analytics partners that can help in the sale and staging processes if your practice is still premature for a listing.
Ongoing and Deep Understanding of Buyers
Understanding your practice is paramount, but understanding the buyer’s strategy is equally important. What markets are they pursuing, and what practice would make the most sense? Is the buyer looking for a beachhead in a particular city where a specific size and existing management team could be more crucial? Is the buyer looking for a tuck-in to complement a recent transaction where revenue critical mass may be less important? Is the buyer looking to acquire practices with the need to purchase operations talent or leadership talent? Is the buyer still looking for their first acquisition and looking for a CEO to replicate what has been done at a smaller scale in a specific region?
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507 Virginia Ave South Haven, MI 49090 | P: 269-207-1895
