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Medcare Hospital acquires 60% stake in Skin III

Medcare Hospital LLC is a step-down subsidiary of Aster DM Healthcare.

September 23, 2022 12:57 IST | India Infoline News Service
Aster DM Healthcare Limited has informed that its step-down material subsidiary Medcare Hospital LLC has acquired 60% stake in Skin III Limited.

As per the filing, 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 company informed in a filing.

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

At around 1:02 PM, Aster DM Healthcare Ltd is currently trading at Rs241.60 per share down by Rs6.15 or 2.48% from its previous closing of Rs247.75 per share on the BSE.

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