Kedaara Capital acquires majority stake in Oliva Skin & Hair Clinic

Private equity firm Kedaara Capital said it has acquired a majority stake in Hyderabad-based Oliva Skin & Hair Clinic, which provides medico-aesthetic dermatology services.

With this, Kedaara said it aims to support and fuel Oliva’s growth towards realizing its vision of becoming India’s most respected and leading medico-aesthetic dermatology chain. The transaction will also provide an exit to InvAscent, which invested in the company in 2014, the firm said.

Founded in 2009 by Dr Prashant Soma, Oliva claims to have established itself as one of the largest and fastest-growing players in the Indian dermatology space. The company offers a diverse suite of skin & hair treatments and products. It also claims to have a roster of 90+ dermatologists and follows a clinician-focused approach with consultations done only by dermatologists.

Dr Prashant Soma, Co-founder & CEO of Oliva Skin & Hair Clinic, said, “Globally, aesthetic dermatology treatments have seen a steady rise in demand with increasing disposable incomes, rise in prominence of non-invasive technology for treatments, and acceptance of aesthetic dermatology treatments across demographics. India has seen a similar increase in demand driven by rising disposable incomes leading to improved affordability and rising use of social media accentuating the “necessity to look good”.

Nishant Sharma, Founder, CIO & Managing Partner of Kedaara Capital, said, “Oliva has created a scalable, replicable model with a strong focus on delivering superior outcomes especially for complex treatments requiring clinical intervention. Moreover, its highly experienced and well-trained clinical team has become a hallmark of excellence in the medical fraternity."

Ashutosh Sardesai, Director at Kedaara Capital, said, “Kedaara, with its operational expertise and experience in healthcare, will support Oliva in the next step of its growth journey and in realising its vision of becoming the most trusted brand for world-class medico-aesthetic dermatology services in India. We also look forward to partnering with like-minded and culturally aligned dermatologists to form a scaled dermatology business with patient centricity and clinical excellence as its bed rock.”

Avendus acted as the exclusive financial advisor for the transaction, Acuity was the legal counsel to Oliva Skin & Hair Clinic, and Panini acted as an advisor to the promoter. Veritas Legal acted as legal counsel to Kedaara Capital and Quillon Partners acted as legal counsel to InvAscent.

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