The market-leading provider of medical-aesthetic dermatology treatments in India, Oliva Skin & Hair Clinic, has acquired a controlling investment from Kedaara Capital, a renowned private equity firm. Kedaara seeks to assist and propel Oliva’s expansion towards realizing its objective of becoming India’s most reputable and top chain of medico-aesthetic dermatology practices with its third investment in the single specialty healthcare sector. InvAscent, an early investor who made a 2014 investment in the business, will also be able to exit through the sale.
“Dr. Prashant Soma founded Oliva in 2009, and since then, it has become one of the biggest and most rapidly expanding companies in the Indian dermatological market. With the assistance of many rounds of funding from the InvAscent-advised India Life Sciences Fund II, Oliva expanded from a Hyderabad-based company with 4 facilities to a network of 23 centers spread across 7 Indian cities. Oliva provides a wide range of treatments and goods for the skin and hair. With over 90 dermatologists on staff, Oliva takes a clinician-focused approach and only allows doctors to provide consultations. The business declared it in a statement.
The company went on to say, “Over time, Oliva has also built a high-quality and sought-after training program where dermatologists and technicians are trained on its best-in-class treatment protocols and SOPs, thereby ensuring consistent and superior clinical outcomes across its facilities.
The co-founder and CEO of Oliva Skin & Hair Clinic, Dr. Prashant Soma, stated, “With rising disposable incomes, increased use of non-invasive technology for treatments, and increased acceptance of aesthetic dermatology procedures across demographics, the demand for aesthetic dermatology procedures has steadily increased on a global scale. Similar increases in demand have been observed in India, where rising disposable incomes have made goods more accessible and increased usage of social media has emphasized the “need to seem good”.”
“Furthermore, organized chains are predicted to surpass independent clinics structurally, and companies like Oliva, which offer the proper combination of medical and aesthetic procedures, have a chance to unify the market through value-added tuck-in acquisitions. We appreciate the InvAscent team’s invaluable advice and assistance, which allowed us to establish ourselves as a dominant force in this market,” he added.
“Kedaara will assist Oliva in achieving its goal of becoming the most reputable brand for top-notch medical and aesthetic dermatological services in India by using its operational knowledge and healthcare experience. A scaled dermatological business built on patient centricity and clinical excellence is something we also look forward to forming in partnership with dermatologists who share our values and share similar cultural perspectives,” says Ashutosh Sardesai, director at Kedaara Capital.
The senior managing director of InvAscent, T P Devarajan, said, “When Oliva was primarily a chain with a concentration in Hyderabad, we worked with Dr. Prashant. Oliva has since handled the difficulties of scaling successfully. Oliva has served many consumers along the way with top-notch derma services. We send Dr. Prashant and his team our best wishes as they travel the nation to scale Oliva. Oliva has made the appropriate partner selection in Kedaara to aid in its expansion.” Acuity provided legal assistance to Oliva Skin & Hair Clinic; Avendus served as the transaction’s sole financial advisor; and Panini served as the promoter’s advisor. Kedaara Capital’s legal guidance was provided by Veritas Legal, and InvAscent’s was provided by Quillon Partners.
