The financial details of the transaction were not disclosed.
The transaction will provide an exit to InvAscent, which invested in the company in 2014, along with providing support to Oliva’s organic and inorganic growth plans of becoming India’s leading dermatology chain.
This will be Kedaara’s third single speciality healthcare investment.
Founded by Dr. Prashant Soma in 2009, Oliva grew from a four centre Hyderabad-based operation to a network of 23 centers across seven cities in India.
Oliva offers a diverse suite of skin and hair treatments and products. Oliva has a roster of over 90 dermatologists and follows a clinician focused approach with consultations done only by dermatologists.
The company was supported by multiple rounds of funding from InvAscent-advised India Life Sciences Fund II.“Globally, aesthetic dermatology treatments have seen a steady rise in demand with increasing disposable incomes,” said Dr Prashant Soma, co-founder and CEO of Oliva.
“India has seen a similar increase in demand driven by rising disposable incomes .. structurally, organized chains are expected to gain share from standalone clinics, and there is an opportunity for players such as Oliva,” Soma added.
“Oliva has created a scalable, replicable model with a strong focus on delivering superior outcomes especially for complex treatments requiring clinical intervention. We are excited to take Oliva forward in the journey to
bring high quality, safe and effective advanced skin and hair treatments accessible to all,” said Nishant Sharma, founder, CIO & managing partner of Kedaara Capital.
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.
