Last Update: March 13, 2023, 7:18 pm IST
The transaction also provides an exit for InvAscent, which had invested in the company in 2014.
With its third investment in the single specialty healthcare segment, Kedara aims to fuel Oliva’s growth towards becoming a leading medico-aesthetic dermatology chain.
Oliva Skin and Hair Clinic, a medico-aesthetic dermatology services player, has said it has sold majority stake to Kedra Capital for USD 65 million (roughly Rs. 530 crore). With its third investment in the single specialty healthcare segment, Kedara aims to fuel Oliva’s growth towards becoming a leading medico-aesthetic dermatology chain, it said in a statement.
The transaction also provides an exit for InvAcent, which had invested in the company in 2014, it said, without disclosing details of how much was invested and for what stake. Nor did the company disclose the stake Kedara has bought.
Founded in 2009 by Prashant Soma, Oliva is backed by multiple rounds of funding from the Investanvest-Advised India Life Sciences Fund II. Oliva has grown from a four-centre Hyderabad-based operation to a network of 23 centers in Bengaluru, Chennai, Pune, Kolkata, Kochi and Vizag and offers a range of skin and hair treatments and products.
Kedara is a private equity firm pursuing control and minority investment opportunities and has raised over USD 3.6 billion through investments in multiple businesses across consumer, financial services, pharma/health care, technology/professional services and industries. Consults/Manages.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)