Rich listers ink US tattoo removal deal

BRISBANE rich listers Cathie Reid and Stuart Giles are eyeing the burgeoning tattoo removal sector through a new $100m investment fund launched with other cashed-up entrepreneurs.

The founders of Icon Cancer Group have joined a team of high-profile health care investors in announcing the establishment of the Heal Partners fund that will invest in US tattoo removal business Removery along with a raft of other health and lifestyle related businesses.

Texas-based Removery operates in 31 cities across the US and Canada, making it the largest and most clinically advanced specialised provider of tattoo removal and fade services in the world.

Mr Giles said the plan was to eventually expand Removery to Australia. “Tattoo removal has taken off like a rocket over the last five years,” said Mr Giles. “In five years’ time, when we look at the most profitable businesses we have invested in, tattoo removal will be at the top.”

Mr Giles said Heal Partners would also invest in Brisbanebased Edge Early Learning Centres, Canadian IVF business Fertility Partners and Indonesia’s Halodoc.