Torrent Pharma Acquires Curatio Healthcare In A Rs 2,000 Cr Deal

Torrent Pharma has announced its intent to acquire Curatio Healthcare for Rs 2,000 crores. 

The two companies have entered into definitive agreements to acquire 100 per cent of Curatio Healthcare for Rs 2,000 crores, which includes Rs 115 crores of cash and cash equivalents in the acquired business indicating an Enterprise Value of Rs 1,885 crores.  

The acquisition will strengthen Torrent Pharma’s presence in the fast-growing dermatology segment.  

Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India. Curatio’s portfolio consists of leading brands such as Tedibar, Atogla, Spoo, B4 Nappi, and Permite, which are ranked amongst top five brands in their covered market. Top ten brands of Curatio account for about 75 per cent of total revenue. 

In a statement, Aman Mehta, Director at Torrent Pharma said, “We are delighted to enter into this deal with Curatio. The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit. Curatio has built a commendable set of high market share brands in cosmetic and pediatric dermatology that we look forward to adding to our product offerings.”   

With this acquisition, Torrent Pharma will add a Field Force of 600 MRs and a distribution network of 900 stockists.  

In FY21-22, Curatio reported revenue collection of Rs 224 crores. With YTD August sales up 25 per cent, Curatio is expected to cross Rs 275 crores revenue in FY23. Dermatology accounts for 82 per cent of Curatio’s revenue. Within dermatology, cosmetic dermatology is a leading contributor. 

Over the last decade, cosmetic dermatology as a therapy has delivered an 18 per cent CAGR which is 1.6x of the IPM CAGR. With this deal, Torrent Pharma will enter the league of top 10 players in the dermatology segment and will be the leader in the cosmetic dermatology space.