NEWS
Blackstone explores sale of ZO Skin Health
Blackstone is reportedly exploring a sale of medical-grade skincare brand ZO Skin Health in a deal that could value the business at around $2 billion, highlighting continued investor interest in physician-led skincare.
Investment firm Blackstone is exploring a potential sale of ZO Skin Health, according to Reuters, with the medical-grade skincare business potentially valued at around $2 billion.
The process is understood to still be at an early stage.
Blackstone is reportedly working with investment bankers at Citigroup and Raymond James on a possible transaction, although no deal has been confirmed and there is no guarantee a sale will ultimately take place.
ZO Skin Health was founded in 2007 by dermatologist Dr Zein Obagi and operates in the professional skincare market, with products distributed through physicians and skincare professionals.
Why it matters
The potential sale is another sign of sustained investor interest in the professional aesthetics and medical-grade skincare market.
Reuters reported that strategic buyers are increasingly interested in clinically backed, physician-distributed skincare brands because of their perceived efficacy and more consistent demand compared with mass-market alternatives.
The story also follows a wider period of investment and consolidation across aesthetics.
Recent activity includes Growth Partner’s investment in Healthxchange and Bridgepoint’s acquisition of Obagi Medical, alongside its existing ownership of Laboratoires Vivacy.
Taken together, the transactions suggest that investors continue to see value across multiple parts of the aesthetics ecosystem — including distribution, injectables and professional skincare.
The Harley Take
The key point here is that nothing has been confirmed yet.
But even the fact that a business such as ZO Skin Health could attract a valuation of around $2 billion says something about how the professional skincare market is now being viewed by investors.
For clinics, the bigger story is the continued consolidation of brands and infrastructure around them.
As capital moves further into aesthetics, ownership structures, distribution relationships and brand portfolios could increasingly influence which products clinics see, how they are supported and how the market evolves.
Sources
Reuters
“Blackstone explores sale of ZO Skin Health, sources say”
8 September 2026
https://www.reuters.com/legal/transactional/blackstone-explores-sale-zo-skin-health-sources-say-2026-09-08/Investing.com
“Blackstone explores sale of ZO Skin Health, sources say”
8 September 2026
https://www.investing.com/news/stock-market-news/blackstone-explores-sale-of-zo-skin-health-sources-say-4892512MarketScreener
“Blackstone explores sale of ZO Skin Health, sources say”
8 September 2026
https://uk.marketscreener.com/news/blackstone-explores-sale-of-zo-skin-health-sources-say-ce785bd9d98ef723