Medcare Hospital LLC acquires 60% stake in Skin III Ltd

Medcare Hospital LLC, a stepdown material subsidiary of Aster DM Healthcare Limited ('the Company') has acquired 60% stake in Skin III Limited.

Skin III Limited is a private company incorporated in Dubai and is a leader in offering IV Drips (Vitamin and Detox) and other Aesthetics Procedures (HydraFacial, laser hair Removal etc).

Skin III is a leader in offering IV Drips (Vitamin and Detox) and other Aesthetics Procedures (HydraFacial, laser hair Removal etc). It has tie ups with leading 5 Star Hotels for IV (Jumeirah Group and Anantara etc.,) and Homecare Business and is a relatively high margin non-insurance business with significant growth potential.

The cost of acquisition is AED 16,651,881.02.

Source : Equity Bulls

Keywords

AsterDMHealthcare MedcareHospital StakeAcquisition SkinIII