Mumbai/IBNS: Torrent Pharma on Tuesday informed that it has entered into definitive agreements to acquire Curatio Healthcare (I) Private Ltd. (Curatio) for Rs 2,000 crore.
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 crores, the company said in a filing with BSE.
Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India.
This consists of brands like Tedibar, Atogla, Spoo, B4 Nappi, and Permite, which are ranked amongst the top five brands in the specified market.
With this acquisition, Torrent Pharma will add a Field Force of 600 Medical Representives and a distribution network of 900 stockists.
Commenting on the acquisition, Director at Torrent Pharma Aman Mehta, said, “The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit."
The transaction is subject to conditions precedent and is expected to close within one month, an official source informed.
(With UNI Inputs)