Mia Aesthetics Credits Fast Expansion to Boom in Middle-Income Cosmetic Surgery Seekers
Clinics cater to niche transformations; continued double-digit revenue growth expected in 2021
ATLANTA, Feb. 3, 2021 /PRNewswire/ — Mia Aesthetics started 2021 with the addition of its seventh clinic in less than two years. The opening of the 16,000-square-foot facility in Atlanta, GA more than doubles the network of Mia clinics which have expanded from two states to five since 2019. Revenue doubled from 2019 to 2020, growing the network exponentially as a result of a spike in the number of savvy, 25 to 30-somethings earning between $30K to $50K choosing to make an investment in cosmetic surgery by U.S. board-certified plastic surgeons－a shift that also has the potential to forever disrupt the trend of traveling abroad for cosmetic surgery.
“The plastic surgery market in the U.S. is much larger than it was years ago when the cost of procedures were only affordable for the affluent,” said Mia Aesthetics founder and board-certified plastic surgeon Sergio Alvarez, MD. “Today, quality cosmetic surgery by experienced surgeons is accessible to anyone who wants it. From a business standpoint, the opportunity for continued growth abounds and is heightened by personal choice and a prioritization of personal appearance.”
In addition, according to Alvarez, anecdotally about 70 percent of Mia Aesthetic patients would have gone out of the U.S. for their procedures. Priced at about 40 percent below the market average, but performed by experienced, board-certified plastic surgeons, it is easy to imagine a potential long term impact on the multimillion dollar cosmetic medical tourism industry by its clinics located in Miami, Fla.; Las Vegas, Nev.; Chicago, Ill.; and Austin, Texas, already servicing hundreds of in-state, out-of-state and even international patients and catering to highly specific transformations.
“At Mia Aesthetics we are also seeing patients from countries like Brazil and Mexico, places traditionally sought out by U.S. patients for certain procedures because of perceived affordability,” said Alvarez. “We also have patients from as far away as Norway and France visit our clinics. It is absolutely plausible that traveling abroad for cosmetic surgery could become a thing of the past.”
Undoubtedly, demand among U.S. patients is high. The current network of Mia Aesthetic clinics even attract patients from surrounding states. The Mia Aesthetics Miami location alone performed 9,000 cosmetic surgeries on patients who flew in from 46 states. Surgeons at the Austin clinic performed 2,000 cosmetic surgeries on patients who flew in from 37 outlying states.
And despite 2020 events, the recently opened Mia Aesthetics location in Atlanta, like all the other locations, already has a six-month waiting list. Commenting on the future of the network, Alvarez said, “We are well positioned to be the preferred provider among this new cosmetic surgery consumer that has a world view and is uncompromising in their expectations of desired results; methodical in their choice of surgeon and cost conscious.”