Fulmer & Company Investments Inc. (“Fulmer”) is pleased to announce the sale of its MediSpa business, comprising of the Afterglow clinics in Vancouver BC together with the Rosenthal Clinic in Victoria, BC, to FYi Medical Aesthetics Inc., a wholly owned subsidiary of FYidoctors (“FYi”).
Founded in 2005 and based in North Vancouver, BC, Afterglow’s clinics, which were acquired by Fulmer in 2016, provide physician directed medical aesthetics services from its locations at Westview, Ambleside and Lower Lonsdale. In 2021, Fulmer acquired the well-established Rosenthal Clinic which has been operating from its Victoria, BC base since 2006.
FYi is one of the fastest growing consolidators in the Canadian medical aesthetic space, with over 40 clinics nationwide. Its parent company is the largest owner of optometry clinics in Canada, and one of the largest in North America. FYi has consistently been named on the 50 Best Managed Companies list and is a mainstay on North American Best Employers lists.
Under FYi’s ownership, the MediSpa clinics will continue to operate as normal and will be led by the existing team of clinicians coupled with the support of FYi's medical aesthetics network.
The sale of the MediSpas to FYi represents a successful conclusion to Fulmer’s 6-year involvement in the MediSpa business, during which time the clinic base grew rapidly hitting several exciting milestones, including a complete refurbishment of the flagship Afterglow location at Westview, a transition from the former Ambleside location to a brand new custom-built clinic at Lower Lonsdale, expanding service and product offerings, growing the best in class team of doctors, nurses, technicians and support staff, and the successful launch of an e-commerce platform.
“The medical aesthetics industry in Canada has undergone significant change since our initial investment in 2016. This divestiture was part of a strategic realignment on our part, consistent with my family’s vision for the future" commented Yuri Fulmer, Chairman of Fulmer & Company Investments Inc. “Moreover, we are proud to have built a wonderful working relationship with the excellent teams of clinic professionals and thoroughly enjoyed our time helping grow these businesses. Moving into the next phase, FYi will be a terrific owner of Afterglow and Rosenthal clinics bringing the necessary financial and operational resources they will need to take these MediSpas to the next level. It has been a pleasure working with Dr. Alan, Dr. Jason, Gord and team during this transaction and we wish them the very best in this next phase.”