DuneGlass Capital, which specializes in the formation of doctor-owned and -led MSOs, has partnered with Leslie Apgar, founder and Medical Director of Pura Vida Medspa & Cosmetic Laser Center, a leading medical spa in Fulton, Maryland, to form Aviva Aesthetics, an aesthetics platform owned, led, and governed by medspa owners.WHO: Aviva Aesthetics is a new model for visionary medical aesthetics entrepreneurs that is an alternative to private equity. Founded in 2024 in partnership with DuneGlass Capital, a healthcare services–focused independent sponsor, Aviva Aesthetics follows the distinctive equity and ownership model pioneered by DuneGlass in other high-growth medical specialties, including oral and maxillofacial surgery (OMS), orthodontic and pediatric dentistry, and vascular and bariatric surgery. Aviva’s distinctive equity and governance model called Entrepreneur Equity provides medspa owners with the same resources and support as private equity–backed platforms without having to sell their businesses or give up practice autonomy.The Chicago-based private equity fund DuneGlass Capital is a growth-oriented investment firm that partners with healthcare founders. They've developed a proprietary model, Doctor Equity, that creates better alignment of interests among all parties—founders, investors, and employees—generating better returns.WHY: The platform supports the needs of entrepreneurs without selling their businesses to private equity, making them owners of the medspa platform so they can earn 2-3x what they would with other exit opportunities when the platform is sold.