He said it was crucial that people check the credentials and experience of those who offer cosmetic treatments.
In addition to Sleek MedSpa, the industry includes chains like Sona MedSpa International, Pure Med Spa, Dermacare Laser and Skin Care Clinics and American Laser Centers, which was recently sold to two private equity firms for about US$230 million.
Despite the boom, some other medspas have flopped. Skin Nuvo International, which operated 40 mall-based clinics, had problems with its hair-removal equipment and wound up filing for Chapter 11 bankruptcy protection in 2005. And HealthWest Inc and SkinKlinic have closed shop.
Rudnick is bullish on the sector's growth and is already planning a network of full-service cosmetic surgery facilities. The first opened adjacent to his New York medspa in October.
"We know one thing for sure: people aren't getting any younger," he said. "We know another thing for sure: they all want to look younger."
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