In a significant development for the UK’s cosmetic and dermatology sector, Lorena Cosmetics Holdings SPV Limited which is closely affiliated with Optical Express, has acquired and relaunched the sk:n and The Harley Medical Group (THMG) clinic chains. This move shows the Lorena Cosmetics team’s belief in re-establishing these two brands and bringing them back to profitability. The industry is watching.
Lorena Investments
Established in July 2024, Lorena Cosmetics Holdings SPV Limited is a private limited company registered in Glasgow, Scotland. As a subsidiary of Lorena Investments, the company focuses on consolidating and expanding its presence in the cosmetic and medical dermatology sectors. The acquisition of sk:n and THMG marks a pivotal step in enhancing its portfolio, which also includes The Skin Experts and ABC Medical, alongside the ophthalmology providers Optical Express.
Lorena Investments Ltd is a private limited company based in Scotland. They are registered with Companies House under company number SC491741. The company was incorporated on 19 November 2014 and operates within the investment and holding sector. The company serves as the parent organisation overseeing businesses across industries, particularly focusing on healthcare, aesthetics, and ophthalmology.
Lorena Investments Ltd is primarily led by David Moulsdale, who serves as both a director and a key figure within the company. He is widely known for his significant influence in the ophthalmology sector, as the founder, Chairman, Chief Executive and 100% Shareholder of Lorena Investments and the Optical Express Group. The company is a major provider of eye care and laser eye surgery services in the UK and beyond. David Moulsdale is known for his entrepreneurial expertise, consolidating businesses and expanding their reach. He has been particularly active in the healthcare and medical aesthetics sectors.
The company’s leadership team also includes other directors and professionals responsible for overseeing its investments. They are ensuring strategic growth, and maintaining regulatory excellence across the business portfolio.
The company plays a significant role in strategic acquisitions and the restructuring of underperforming or collapsed businesses, such as its recent acquisition of sk:n and THMG. By integrating these brands into its broader portfolio, Lorena Investments has 3 main aims. First to deliver innovative healthcare solutions, secondly to enhance customer experience and thirdly and most importantly, drive sustainable growth.
The Relaunch After the Collapse
In July 2024, the sk:n Group, encompassing sk:n Clinics, The Harley Medical Group, Skinbrands, The Skin Experts, and ABC Medical, ceased trading, leading to the closure of 70 UK clinics and the loss of approximately 450 jobs.
Lorena Cosmetics swiftly intervened, acquiring the defunct chains and initiating a comprehensive relaunch. By December 2024, the company successfully reopened over 30 clinic locations across the UK. This included flagship sites on London’s Harley Street and Glasgow’s St. Vincent Street. This revival not only reinstated essential aesthetic services but also facilitated the re-employment of around 33% of its past employees. Approximately 150 former staff members. Staff re-hired included dermatologists, aesthetic doctors and plastic surgeons.
Plans for Expansion
Looking ahead, Lorena Cosmetics has outlined ambitious plans to expand sk:n and THMG services to additional UK locations in 2025. The company aims to introduce new treatments, such as polynucleotides, advanced dermatology procedures and cutting-edge skincare technologies. These moves are designed to meet the evolving demands of clients seeking high-quality aesthetic solutions. David Moulsdale, Chairman and CEO of Lorena Cosmetics Holdings SPV, stated:
“The acquisition and integration of sk:n and THMG into the Lorena portfolio reinforces our commitment to delivering world-class patient care, regulatory excellence, and innovative treatment solutions.” – David Moulsdale
The resurgence of sk:n and THMG under Lorena Cosmetics’ stewardship presents a formidable challenge for small and medium-sized aesthetic clinics in the UK. Many of these independent establishments may have anticipated a reduction in competition following the initial closures.
However, the swift relaunch and planned expansion of these well-established chains could intensify market competition further. This change will compel smaller clinics to enhance their service offerings, lower their prices and up the customer experience to maintain their market position. Survival of the fittest. 2025 is going to be a fascinating year.
