Ahmedabad, Sep 27: Torrent Pharmaceuticals Limited (Torrent Pharma) has acquired Curatio Health Care, which has several popular products in cosmetic dermatology segment. Torrent has entered into definitive agreements to acquire 100% of Curatio Healthcare Private Limited (Curatio) for Rs 2,000 Cr. The consideration includes Rs. 115 crores (on the date of signing) of cash and cash equivalents in the acquired business indicating an Enterprise Value of Rs 1,885 Cr
A press release issued on Tuesday informed that, Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India. Curatio’s portfolio consists of leading brands such as Tedibar, Atogla, Spoo, B4 Nappi, and Permite, which are ranked amongst top 5 brands in their covered market. Top ten brands of Curatio account for 75 percent of company’s total revenue. With this acquisition, Torrent Pharma will add a field force of 600 MRs and a distribution network of 900 stockists.
Commenting on the acquisition, Aman Mehta, Director of Torrent Pharma said, “We are delighted to enter into this deal with Curatio. The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit. Curatio has built a commendable set of high market share brands in cosmetic and pediatric dermatology that we look forward to adding to our product offerings.”