Laser MD Medspa, an Investment of Potomac Equity Partners, Appoints Derek Larkin as CEO

BRAINTREE, MA, AUGUST 28, 2019 – Laser MD Medspa, a premier medical spa services company, which also includes SculptMe, a leading provider of the non-invasive fat reduction treatment CoolSculpting®, today announced the addition of Derek Larkin as the company’s Chief Executive Officer.  As part of the hiring of Mr. Larkin, Laser MD Medspa’s Founder and existing CEO, Manuk Degirmencian, will transition into a consulting role with the company.

 

Manuk Degirmancian commented “The successful hiring of Derek Larkin represents another step in Laser MD Medspa’s pursuit of becoming one of the most successful medical spa service providers in the country.  Derek’s background, experience, and multi-site healthcare expertise will serve Laser MD Medspa and its clients and employees very well in the years ahead, and I and the Laser MD Medspa team welcome him to our organization.  I am also excited about my new role as consultant to the company, assisting Derek and the team in its continued pursuit of success.”

Laser MD Medspa was acquired last month by the private equity firm Potomac Equity Partners.  John Bates, the Founder and Partner of Potomac Equity Partners and a Board Member of Laser MD Medspa, commented “The investors of Laser MD Medspa are honored to have Derek leading the company, and grateful to Manuk for his past leadership.  We are excited about the growth prospects for the company, and our partnership with Derek.”

Derek Larkin is an experienced CEO with a strong background in the multi-site healthcare services sector.  Prior to joining Laser MD Medspa, Mr. Larkin was the CEO of Boston IVF, one of the largest fertility service providers in the world.  Derek joined Boston IVF in 2007 as the Vice President of Operations, and was promoted to CEO within his first year.  Under his leadership, Boston IVF grew from one location to 35 locations in nine states across the U.S. through a combination of de novo site additions and add-on acquisitions.  Prior to Boston IVF, Mr. Larkin served as the National Brand Manager, Endocrinology at EMD Serono, and in this position led various product launches and direct to consumer marketing campaigns.  Mr. Larkin also has a J.D. and an M.B.A. from Suffolk University.  Speaking about his new role, Derek stated “I am honored to join Laser MD Medspa and its financial partner Potomac Equity Partners at this very exciting time in the company’s history. Laser MD Medspa is at a pivotal stage – and is ready to accelerate growth. Along with Potomac Equity Partners, I look forward to successfully leading the national expansion of the company’s strong platform, uniquely identifiable brand and talented team.”

 

About Laser MD Medspa, LLC

Laser MD Medspa, LLC was formed by the combination of Laser MD Medspa, LLC and SculptMe, LLC. Founded in 2012 and headquartered in Braintree, MA with five locations throughout the greater Boston metropolitan region, Laser MD Medspa is a leading provider of medical spa services.  Primary services include laser hair removal, body contouring services (such as CoolSculpting®) and Botox®, supplemented by additional injectable, skin and other aesthetic procedures. The Company has grown systematically through de novo location additions, targeting visible high traffic areas with attractive demographic characteristics and where it can create relaxing spa-like environments for its clients.  For more information, visit www.lasermdmedspa.com and www.sculptme.com.

About Potomac Equity Partners, LLC

Potomac Equity Partners is a Washington, D.C.-based private equity investment firm focused on providing superior equity returns through the close partnership and collaboration with its portfolio company management team members. The firm strives to invest in companies with leading products and services, superior management teams, and in which its invested capital and collaborative efforts can enable companies to exponentially ramp their long-term growth prospects and overall performance. The principals of Potomac Equity Partners have a long and successful history of investing with management teams across a wide range of industries including healthcare, software and technology, education and training, and information services. For more information about Potomac Equity Partners, visit www.potomacequitypartners.com.