Also known as peri, this surgery is most often performed on smaller chest sizes. The surgery involves two circular incisions; one around the nipple, and one around the outer edge of the nipple. The middle is removed, and the two parts are sewn together. The nipple is not removed, preserving the nipple stalk, but resulting in lack of control over placement.

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YouTube Video: LIVE SURGERY of Transgender FTM/Non-Binary PERIAREOLAR Top Surgery Performed by Dr. Mosser
YouTube Video: Periareolar Transgender & Non-binary Top Surgery by Dr. Scott Mosser