Branded formulations manufacturer, Eris Lifesciences Ltd on Tuesday acquired a 100% stake in Mumbai-based Oaknet Healthcare Private Ltd for a total consideration of Rs 650 crore. Oaknet Healthcare is a dermatology focused formulations company.
Branded formulations manufacturer, Eris Lifesciences Ltd on Tuesday acquired a 100% stake in Mumbai-based Oaknet Healthcare Private Ltd for a total consideration of Rs 650 crore. Oaknet Healthcare is a dermatology focused formulations company. The acquisition will be completed by way of a share purchase agreement because of which Oaknet Healthcare will become a wholly-owned subsidiary of Eris. The acquisition will facilitate the entry of Eris into the dermatology segment by enabling expansion of its portfolio, increased market reach and penetration and improved segment ranking. Oaknet Healthcare has a product line in segments including dermatology, gynaecology, pain management, nutritional, cardiology & Amit Bakshi, CMD, Eris Lifesciences, said
