Alchemy 43 Appoints Shane Smith as CEO to Drive Operational Performance and Scalable Growth

DALLAS - Rezul -- Alchemy 43 has appointed Shane Smith as Chief Executive Officer to lead the company's next phase of growth, with a focus on clinic-level performance, operational execution, and scalable expansion across key U.S. markets.

Smith is a proven operator in the medical aesthetics industry with nearly two decades of experience building and scaling multi-location service businesses. His appointment pairs Alchemy 43's established brand and prime market positioning with a disciplined, performance-driven operating model designed to improve productivity and drive long-term enterprise value.

Smith is the founder of Upkeep MedSpa, a multi-location aesthetics platform with locations across New York and Texas, which has been recognized among the fastest-growing companies in the country with placement on the Inc. 5000. Under his leadership, Upkeep has built a reputation for strong clinic-level performance, disciplined patient acquisition, and a consistent client experience — a model now being applied at Alchemy 43.

With operating oversight across both Alchemy 43 and Upkeep MedSpa, Smith leads a growing platform of 16 locations across some of the most attractive aesthetic markets in the United States. His operating framework centers on provider productivity, standardized clinic operations, and scalable multi-location management — an approach built to drive measurable improvements in revenue per chair, clinic-level margins, and overall enterprise value.

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Prior to founding Upkeep, Smith was recruited to lead the turnaround of a founder-operated medspa, which he grew profitably to 11 locations. Earlier in his career, he held senior operating roles within a salon platform of more than 2,000 locations across North America, gaining deep experience in complex, multi-unit service management.

"What excites me about this opportunity is pairing a strong existing platform with a proven operator. Shane has developed a disciplined, repeatable model for improving performance across multi-location businesses, and we believe applying that approach to Alchemy 43 creates a clear path to unlocking its full potential and driving meaningful long-term value," said Lori Wachs, Managing Partner of Penultima Capital, an investor in Alchemy 43 and other beauty and wellness brands.

"Alchemy 43 has built a strong brand in some of the most attractive markets in the country," said Smith. "The opportunity now is to improve productivity, strengthen performance, and build a more scalable, efficient operating model for long-term growth."

About Shane Smith

Shane Smith leads a platform of 16 medical aesthetics locations across Alchemy 43 and Upkeep MedSpa, making him one of the more active multi-brand operators in the sector. He is the founder of Upkeep MedSpa and has led multiple high-growth companies recognized on the Inc. 5000. Smith is known for implementing disciplined operating strategies that improve clinic productivity, drive efficient growth, and create long-term enterprise value.

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About Alchemy 43

Alchemy 43 is a leading aesthetics and wellness brand redefining beauty through personalized, results-driven micro treatments. Grounded in the philosophy that the best aesthetic work is subtle and confidence-boosting, Alchemy 43 delivers tailored services designed to enhance each client's natural features. With multiple locations across major U.S. markets, the company combines expert medical providers, advanced technologies, and a modern client experience to deliver consistent, high-quality outcomes.

About Upkeep MedSpa

Upkeep MedSpa is a multi-location medical aesthetics platform founded in New York City, focused on delivering high-quality, accessible aesthetic treatments through a disciplined operating model. With locations across New York and Texas, Upkeep has built a reputation for strong clinic-level performance, consistent client experience, and efficient growth. The business emphasizes provider productivity, marketing efficiency, and scalable operations centered around provider satisfaction and customer experience and outcomes.