Torrent Pharma to buy Curatio Healthcare for Rs 2,000 crores
Ahmedabad: Torrent Pharmaceuticals Limited has entered into definitive agreements to acquire 100% of Curatio Healthcare (I) Private Limited (Curatio) for Rs. 2,000 crores. 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.
Curatio's portfolio consists of leading brands such as Tedibar, Atogla, Spoo, B4 Nappi, and Permite. The top ten brands of Curatio account for ~75% of total revenue. With this acquisition, Torrent Pharma will add a Field Force of 600 MRs and a distribution network of 900 stockists.
Sequoia, ChrysCapital and the Promotors of Curatio mentioned, "Over the last fifteen years, Curatio has built a strong portfolio of differentiated products in the derma segment that are very well received by doctors and patients. We believe Torrent is best suited to further catapult the business which we have built."
The transaction is subject to conditions precedent and is expected to close within one month.
Read also:Torrent Pharma appoints Manish Choksi as Independent Director
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