Bridgepoint buys Obagi Medical from Waldencast
Valued at up to $460 million, the deal moves a physician-dispensed skincare and aesthetics brand into sponsor ownership.
Bridgepoint agreed to buy Obagi Medical from Waldencast in a carve-out of a medical-grade skincare and aesthetics brand offering prescription and non-prescription products.
Obagi Medical sells through dermatologists, aesthetic practitioners and other healthcare professionals across North America, Europe, Asia and the Middle East.
The purchase price carries an enterprise value of up to $460 million, subject to purchase price adjustments and contingent future payments.
Founded in 1988, Obagi Medical addresses premature aging, photodamage, skin discoloration, acne and sun damage; its 2025 acquisition of Novaestiq led to the launch of the FDA-approved Obagi Saypha® MagIQ™ dermal filler line.
At closing, Waldencast founders Michel Brousset and Hind Sebti and selected managers will move to Obagi Medical to lead the business with Bridgepoint.
The transaction is expected to close in the third quarter of 2026, subject to customary conditions and required regulatory approvals; it is not subject to a financing condition or shareholder vote.