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Can private equity invest in a med spa in Illinois?

Ownership · part of The Practice Perimeter

A person who is not a physician or an APRN cannot be a shareholder or member, an officer, a director or a manager of a med spa entity. That closes the door on an outside investor taking equity in the entity that delivers the care, whatever their commercial role.

IDFPR/IDPH Medical Spa Services memo (updated 2025-10-30) · verified Aug 17, 2026 · regulatory monitoring, not legal advice

The rest of what Illinois says on this

Every other rule we have verified under ownership & corporate practice of medicine, each linked to its primary source.

  • IDFPR and IDPH state that because the services a med spa provides are medical services, the Medical Practice Act and the Nurse Practice Act require med spas to be owned and operated by physicians — and, for some services, by advanced practice registered nurses. A med spa that is not organized as a corporate entity, such as a sole proprietorship or partnership, must still be owned and operated by a physician or an APRN.

    IDFPR/IDPH Medical Spa Services memo (updated 2025-10-30) · verified Aug 17, 2026

  • Only physicians may organize under the Medical Corporation Act. Physicians may instead use the Professional Service Corporation Act or the Professional Limited Liability Company Act; APRNs may use only those latter two. A physician entity may have only physicians as shareholders or members, officers, directors or managers, and an APRN entity only APRNs.

    805 ILCS 15/ · 805 ILCS 10/ · 805 ILCS 185/ (as stated in the IDFPR/IDPH med spa memo) · verified Aug 17, 2026

  • Professional entities are limited to one type of professional service plus certain related services, and none of the related services listed would let the same entity practice both medicine and cosmetology or esthetics. An entity organized under the Medical Corporation Act may provide medical services only.

    805 ILCS 185/13 · 805 ILCS 10/3.6 (as stated in the IDFPR/IDPH med spa memo) · verified Aug 17, 2026

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← All Illinois rules and changes · Med Spa Radar is regulatory monitoring and reference, not legal, medical, or compliance advice. Verify against the linked primary source and consult qualified counsel before acting — rules change and turn on your specific facts. Legislative data via LegiScan (CC BY 4.0).