Waldencast plc’s Obagi Medical brand has broadened its ALOHA (Aesthetics Leadership with Obagi’s Hyaluronic Acid) program by adding two new partners: DermFx, a Southern California med‑spa network, and Moxie, a software‑enabled med‑spa operating system. The expanded program will give DermFx clinicians hands‑on experience with Obagi saypha MagIQ, the company’s FDA‑approved injectable hyaluronic acid gel, while Moxie will supply its network of aesthetic practices with integrated Obagi protocols, data‑capture tools, and coaching to evaluate the filler’s performance in routine practice settings.
The DermFx collaboration will deploy the ALOHA program across the network’s five Southern California locations, allowing clinicians to administer saypha MagIQ under a standardized protocol and collect real‑world safety, efficacy, and patient satisfaction data. The partnership is designed to generate high‑quality evidence that can inform marketing, clinical guidelines, and future product development, while also building physician confidence in the new product line.
The Moxie partnership extends the program to a broader, technology‑driven med‑spa ecosystem. Moxie’s platform will embed Obagi’s treatment protocols into its practice management software, enabling automated data capture and coaching for practitioners. This integration is expected to accelerate adoption of saypha MagIQ by providing a seamless workflow for clinicians and a robust data set for Waldencast to refine its product positioning.
These collaborations fit into Waldencast’s broader strategy to accelerate the U.S. launch of Obagi saypha MagIQ and to double its addressable market to approximately $4.2 billion by 2029. By engaging independent med‑spa networks and technology platforms, the company aims to validate the product’s real‑world effectiveness, expand market penetration, and strengthen its position in the high‑margin aesthetics segment. The ALOHA program is a key lever in achieving these growth targets, as it combines Obagi’s trusted skincare brand with a new injectable offering that can drive incremental revenue and margin expansion.
Management emphasized the strategic importance of the program. Michel Brousset, co‑founder and CEO of Waldencast, said the launch of saypha MagIQ “is a catalyst for our growth as we deliver synergistic skincare and injectable offerings under the trusted Obagi Medical brand.” Drew Fine, U.S. General Manager of Obagi Medical, highlighted the partnership with DermFx as a “true Aesthetics for All” initiative that will bring evidence‑based results to a wide range of practice types. Kamau Massey, CEO of Moxie, noted that the ALOHA program aligns with the company’s focus on innovation and real‑world results for med‑spa entrepreneurs.
The market has responded with mixed sentiment to similar partnership announcements. While the ALOHA launch on January 21, 2026 saw a 6.92% gain, the February 5 announcement of the Moxie collaboration coincided with an 8.5% decline, suggesting that investors are weighing broader market conditions and the company’s overall guidance more heavily than individual partnership news. Nonetheless, the expanded program is expected to provide Waldencast with a stronger evidence base and a clearer path to commercial success for saypha MagIQ, potentially supporting future revenue growth and margin improvement as the product gains traction in the U.S. market.
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