Selling a Medical or Aesthetic Practice in Denver

Colorado House Bill 25-1024, signed April 7, 2025 and effective in early August 2025, requires med spas to post on-site signage, publish website disclosures, and obtain signed patient informed-consent forms whenever unlicensed staff perform delegated medical-aesthetic services. It is a three-tier disclosure mandate that few other states impose at this level of detail. For a seller, this matters at diligence: a buyer’s counsel will check whether your signage, your website, and your consent forms already meet the new standard. A practice that is clean against HB 25-1024 looks lower-risk and moves faster. Add that Colorado’s Department of Regulatory Agencies has been running targeted med spa investigations since late 2024, and your compliance posture becomes part of your price. We make sure it is an asset, not a discount.

No. There is no published Denver-specific multiple, and we will not quote one. What we use is the national vertical range for your practice type, then we explain how Colorado law and the local market move structure and value. A practice that is already cleanly structured for compliance, with a physician-controlled PC, a market-rate management fee that does not look like profit-sharing, and a clean record against the 2025 disclosure law, transacts faster and holds its value. A practice that is not invites re-trading and discounts. The presence of a funded national platform in the metro supports the national range for a well-prepared seller, but it does not create a citable city multiple. Your real number comes from a confidential, practice-specific analysis.

Colorado follows the corporate practice of medicine doctrine, so a non-physician, a private equity firm, or a general corporation cannot own a medical practice or direct clinical decisions in Denver. The lawful path is the friendly-PC and MSO model: a physician-owned professional corporation keeps the clinical practice and the license-bound revenue, and a separate management services organization, the part a non-physician investor owns and funds, contracts to provide non-clinical business services for a fee. The MSO is what gets bought and sold. The restriction comes from the Colorado Medical Practice Act, codified at Article 240 of Title 12, with the key provisions at C.R.S. 12-240-121 and C.R.S. 12-240-138. There is no separate Denver city or Denver County licensing rule that overrides the state law. For the full statutory treatment, see our Colorado state hub. This page focuses on how those rules play out in the Denver deal market.

Colorado counts roughly 260 medical spas in a data set drawing on the American Med Spa Association 2024 State of the Medical Spa Industry report and US Census County Business Patterns, ranking it twelfth nationally out of 10,488 med spas in the United States, a smaller but high-quality market. Denver anchors the state’s largest metro, the Denver-Aurora-Lakewood MSA. There is no independently citable count of med spas for Denver alone, because directory scrapes that report higher city figures count non-physician day spas and salons rather than true medical spas, so we frame density at the verified state level and rely on the documented reality that a funded national platform, Sono Bello, operates physically in the metro at Greenwood Village. Treat the figures as data-set estimates, not a state-certified statistic.

Yes, unless and until you choose to tell people. We run every process under strict confidentiality, with confidentiality agreements, secure data rooms, staged disclosure, and a vetted buyer process. Premature disclosure can unsettle staff, shake patient confidence, and weaken your negotiating position in the Denver market, so you decide what is shared, with whom, and when. Because a Colorado deal has to deliver a clean friendly-PC and MSO separation, we plan that structure with you privately and openly, well before any buyer sees your name.