Can private equity invest in a med spa in Minnesota?
Ownership · part of The Practice Perimeter
Short answer
Not directly — if the med spa is a professional firm that has elected chapter 319B, ownership interests may pass only to licensed professionals, voluntary or involuntary transfers alike; whether that binds turns on the firm's organizational document.
A professional firm may not sell, grant, give, allocate, issue, or otherwise transfer an ownership interest except to persons meeting the subdivision 1 requirements, and no owner may transfer one except to such persons — and the restriction applies regardless of whether the transfer is voluntary or involuntary. An investor cannot take an interest through a forced or incidental transfer that a direct sale would have blocked.
Minn. Stat. § 319B.07, subd. 2 · verified Sep 2, 2026 · regulatory monitoring, not legal advice
Related Minnesota rules
⚠️ Minnesota names the med spa business model as fee splitting. “fee splitting” is unprofessional conduct “including without limitation … (4) dispensing for profit any drug or device, unless the physician has disclosed the physician’s own profit interest.” Selling a drug or a device at a mark-up is inside the fee-splitting ground unless the profit interest is disclosed — which is a different and larger duty than the § 151.37 filing.
Minn. Stat. § 147.091, subd. 1(p)(4) · verified Sep 2, 2026
⚠️ and the disclosure has a form, a time and a sentence it must contain. “The physician must make the disclosures required in this clause in advance and in writing to the patient and must include in the disclosure a statement that the patient is free to choose a different health care provider.” In advance, in writing, and carrying that sentence — three requirements a verbal mention at the point of sale does not meet.
Minn. Stat. § 147.091, subd. 1(p) · verified Sep 2, 2026
How other states answer this
All 6 states side by side →Related Minnesota questions
- Can a non-physician own a med spa in Minnesota?
- What limits does Minnesota place on a med spa's business structure?
- In Minnesota, may a non-clinical owner or manager be paid a share of revenue?
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← All Minnesota rules and changes · MedSpaRadar is regulatory monitoring and reference: it summarizes public laws, regulations and agency actions and links each to its source. It is not legal, medical, or compliance advice, and using it creates no attorney-client relationship. A summary can lag its source or leave out detail, and monitoring itself can be interrupted — so an absence of alerts means nothing reached you, not that nothing happened. Read the cited source, check its effective date, and confirm any change to your operations or clinical practice with qualified health-law counsel and your medical director. Legislative data via LegiScan (CC BY 4.0).