 "Elon Musk")
Oliva Skin & Hair Clinic, which is a medico-aesthetic dermatology services player, has said it has sold majority stake to Kedaara Capital for a consideration of USD 65 million (around Rs 530 crore).
With its third investment in the single speciality healthcare segment, Kedaara aims to fuel Oliva's growth towards becoming a leading medico-aesthetic dermatology chain, a statement said.
The transaction also provides an exit to InvAscent, which invested in the company in 2014, it said, without disclosing the details such how much was invested and for what stake. Nor the company disclosed what is the stake that Kedaara has picked up.
Founded by Prashant Soma in 2009, Oliva has been supported by multiple rounds of funding from InvAscent-advised India Life Sciences Fund II.
Oliva grew from a four-centre Hyderabad-based operation to a network of 23 centres across Bengaluru, Chennai, Pune, Kolkata, Kochi and Vizag now and offers a range of skin and hair treatments and products.
Kedaara is a private equity firm pursuing control and minority investment opportunities and advises/manages over USD 3.6 billion through investments in several businesses across consumer, financial services, pharma/healthcare, technology/ business services and industrials.
