SignatureMD, one of the largest concierge medicine networks in the US, changed hands in early 2026. L Catterton, the consumer private equity firm whose portfolio includes Birkenstock and Equinox, acquired the company from Blue Sea Capital in the first quarter of the year [1]. The network supports more than 250 physicians providing membership-based care across 35 states [1].
The deal closed quietly. Neither company issued a press release, and the purchase price has not been disclosed. The transaction surfaced in a first-quarter healthcare M&A review published by the investment bank Provident Healthcare Partners [1], and SignatureMD now appears on L Catterton's own list of completed transactions [2].
If your doctor practices under the SignatureMD banner, or you are a physician weighing a conversion partner, here is who bought the company, why a consumer-brand investor wants a doctor network, and what to watch next.
While there is not public data disclosed L Catterton typically invests between $250 to $500m and they currently have roughly $40 billion in AUM.
What SignatureMD Does
SignatureMD helps independent primary care doctors convert their practices to concierge medicine. The company handles the business side of the switch: member enrollment, billing, marketing, and compliance. The physician keeps ownership of the practice, and patients pay an annual membership for a smaller panel, longer visits, and direct access to their doctor.
Its signature offering is flexibility. A doctor can convert fully, or keep seeing insurance-based patients while offering concierge membership to those who want it. Founder Matthew Jacobson described it as a model "that puts them back in control without having to decide between practicing medicine on their terms and saying good-bye to thousands of their patients" [3]. That stands apart from MDVIP, the largest player in the category, which is built on full practice conversion.
Fees are set practice by practice rather than by a single national price, so what patients pay depends on the individual doctor's program.
Who Built SignatureMD
Matthew Jacobson founded SignatureMD in 2006 in Marina del Rey, California [4]. By April 2019 the network had grown to well over 100 affiliated physicians and specialists serving nearly 25,000 members across 28 states [4]. That month, Blue Sea Capital, a West Palm Beach private equity firm, made a significant investment in the company, with Jacobson staying on as chief executive and keeping a meaningful ownership stake [4].
Blue Sea then used SignatureMD as a consolidation platform. In April 2020 it merged with Paragon Private Health, a competing concierge support firm [5]. In April 2021 it absorbed Cypress Membership Medicine, a Franklin, Tennessee provider led by chief executive Julie Robinson, pushing the combined network past 200 physicians across 35 states [3].
Today the company is headquartered in Boca Raton, Florida [6], the same city as MDVIP. Its chief executive and president is Mark Murrison, who previously served as president and chief marketing officer of MDVIP. During his time there, MDVIP grew from fewer than 50 affiliated physicians to more than 750 [7]. Both of the two largest concierge conversion networks are now run from one Florida city, by executives who share an MDVIP lineage.
Who Is L Catterton
L Catterton began in 1989 in Greenwich, Connecticut as Catterton-Simon Partners, founded by Carl Frischkorn, Frank Vest, J. Michael Chu, and former US Treasury Secretary William E. Simon [8]. In January 2016, the firm combined with the private equity operations of luxury conglomerate LVMH and Financière Agache, the family holding company of Bernard Arnault, to form L Catterton [8].
The firm is led by chief executive Scott Dahnke and chairman J. Michael Chu, managed roughly $40 billion in assets as of 2026, and has made more than 250 investments in consumer brands, including Birkenstock and Peloton [13]. In May 2025 it announced $11 billion in newly raised capital for consumer investments [9].
Health and wellness has become a steady theme in that portfolio:
Thorne HealthTech. L Catterton took the supplement maker private in 2023 for approximately $680 million [10].
US Fertility. The firm announced a strategic partnership with the fertility-clinic network in November 2025 [9].
98point6 and Tally Health. Its current portfolio includes the virtual care provider 98point6 and the longevity company Tally Health, alongside Equinox [2].
SignatureMD extends that line from wellness products into the doctor's office itself.
Why a Consumer-Brand Firm Wants a Doctor Network
Concierge medicine is paid for the way consumer subscriptions are paid for. A member chooses it, pays out of pocket, and renews every year based on how the service feels. Recurring membership revenue with high renewal rates is the profile consumer investors underwrite, and it is the same reason private equity keeps moving deeper into concierge medicine.
The MDVIP precedent shows how durable that thesis has been. MDVIP has been owned by a chain of investors since Procter & Gamble bought it in 2009, and Goldman Sachs Asset Management and Charlesbank Capital Partners have co-owned it since 2021 [11]. The network now reports 450,000 members and 1,400 affiliated physicians [12]. We covered Goldman's expanding position in concierge-adjacent healthcare earlier this year.
The SignatureMD deal adds a different kind of owner to that map. The concierge networks have mostly been held by healthcare-focused investment firms. L Catterton's core business is building consumer brands. An owner with that background tends to invest in what consumers see: advertising, member experience, and national name recognition. Expect SignatureMD to get louder, both in recruiting physicians and in marketing to patients.
What Changes for Patients (and What to Watch)
If your doctor is a SignatureMD affiliate, nothing changes in the exam room today. Your relationship is with your physician, who still owns the practice, and your membership agreement is with that practice.
Three things are worth watching over the next couple of years:
Membership fees at renewal. New owners often revisit pricing. Check your renewal letter against what you paid last year.
Network growth. A well-capitalized owner usually accelerates physician recruiting, which means more SignatureMD-affiliated doctors in more cities, including its home market of Florida.
An official announcement. As of July 2026, neither company has publicly confirmed the deal terms. A formal statement should clarify L Catterton's plans.
For patients comparing options, network affiliation is one factor among several. Independent concierge practices, such as Priority Physicians in Indianapolis, operate the same membership model without a national parent. If you are new to the category, start with what concierge medicine is and how it works, then compare individual doctors rather than brands.
FAQ
Who owns SignatureMD now?
L Catterton, a consumer-focused private equity firm backed in part by LVMH, acquired SignatureMD from Blue Sea Capital in the first quarter of 2026 [1]. Blue Sea Capital had owned the company since 2019 [4].
How much did L Catterton pay for SignatureMD?
The purchase price has not been disclosed. Neither company issued a press release, and the deal became public through investment-bank M&A reporting [1].
Will my SignatureMD membership or doctor change?
Not automatically. SignatureMD-affiliated physicians own their own practices, and your membership agreement is with the practice. Ownership changes at the network level do not alter your doctor's obligations to you, though membership fees can change at renewal as they always could.
Is SignatureMD bigger than MDVIP?
No. MDVIP reports 450,000 members and 1,400 affiliated physicians [12], while SignatureMD supports more than 250 physicians across 35 states [1]. SignatureMD is generally regarded as the second-largest concierge conversion network, and its flexible conversion model is its main point of difference.
NextMD lists 6,185 verified concierge and direct primary care practices, every one physician-led with at least one MD or DO. You can search practices by city, compare pricing, and view doctor credentials at nextmd.ai/search.
Sources
Provident Healthcare Partners. (2026, April). Healthcare Services M&A Review: Q1 2026 Update (Multisite Provider Services section). Read the Q1 2026 review (PDF)
L Catterton. (2026). Investments and List of L Catterton Transactions. See the transaction list
Blue Sea Capital. (2021, April 2). SignatureMD Completes Merger with Cypress Membership Medicine. Read the announcement
Blue Sea Capital. (2019, April 1). Blue Sea Capital Invests in Leading Provider of Concierge Healthcare Support Services. Read the announcement
Blue Sea Capital. (2020, April 22). SignatureMD and Paragon Merge to Establish Premier Provider of Membership-based Concierge Medicine Support Services. Read the announcement
PitchBook. (2026). SignatureMD Company Profile. View the profile
SignatureMD. (2026). Meet the SignatureMD Executive Team. View the team page
Wikipedia. (2026). L Catterton. Read the entry
L Catterton. (2025-2026). Press: L Catterton Raises $11 Billion for Global Consumer Investments (May 2025); US Fertility Strategic Partnership (November 2025). Browse the press archive
Canaccord Genuity (CG Sawaya Partners). (2023, August 28). Exclusive Financial Advisor to Thorne HealthTech on its Pending Sale to L Catterton for Approximately $680 Million. View the transaction record
PR Newswire. (2021, August). Goldman Sachs Asset Management and Charlesbank Capital Partners to Acquire Majority Ownership of MDVIP. Read the release
Cohen, P. and Wehrwein, P. (2026, June 25). Conversations with Perry and Friends: Larry Kutscher, MBA, CEO and Board Director, MDVIP. Managed Healthcare Executive. Read the interview
Official website. https://www.lcatterton.com/Aboutus.html