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Torrent Pharma set to acquire Curatio Health for ₹2,000 cr

₹2,000 crore, it said in a regulatory filing. As part of the deal, Torrent will pay ₹115 crore in cash and cash equivalent upfront for the 100% stake. Curatio will be valued at ₹1,885 crore.

The transaction is likely to close within one month. Curatios’ team of 600 medical representatives will join Torrent Pharma and it will add a distribution network of 900 stockists. “In the last 15 years, Curatio has built a strong portfolio of differentiated products in the derma segment which are well received by both doctors and patients.

We believe Torrent is best suited to further catapult the business we have built," said Sequoia, ChrysCapital and the promotors, including GK Ramani, of Curatio in a joint statement. In March, VCCircle had first reported that Dr Reddy’s Laboratories Ltd, Torrent Healthcare, JB Chemicals and Warburg Pincus were shortlisted to buy Curatio. Founded in 2005, Curatio is backed by venture capital and private equity firms Sequoia, Anicut and ChrysCapital.

The company has strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands. Besides India, it also has operations in Nepal, Srilanka and the Philippines. Sequoia Capital acquired a 33% stake in Curatio Healthcare in 2014, while ChrysCapital picked up a stake in 2018 from Fulcrum Capital, when it exited partially.

Anicut owns about 1% stake in the company. Curatio’s portfolio consists of brands such as Tedibar, B4 Nappi, Atogla, Spoo, and Permite, with the top 10 brands accounting for 75% of its revenue. The firm expects revenue to increase from ₹224 crore in FY22 to ₹275 crore in FY23.

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