Birla Pacific Medspa Ltd Company Summary

Birla Pacific Medspa Ltd Summary

Birla Pacific Medspa Ltd operates med spa centres under the brand name EVOLVE. The company med spa centres are located in Mumbai at Walkeshwar, Andheri, Bandra, Worli and Borivali. Also, they have their franchisee centres located at Chennai and Thane.Birla Pacific Medspa Ltd was incorporated on July 15, 2008 as a private limited company with the name Birla Pacific Medspa Pvt Ltd. The company was incorporated pursuant to a joint venture agreement between Birla Wellness & Healthcare Pvt. Ltd., Pacific Healthcare Holdings Limited and Dr. Abhijit Desai.The company was established to carry on in India and abroad the business of beauty and healthcare treatments, health and fitness resorts, dieticians, yoga ashrams, saloons, hair and skin treatments, Sanatorium centers, and to manufacture soaps consumables, oils, medicines, body sprays and scents, creams, powders, natural and artificial skin and hair conditioners. However, presently the company is not carrying on the business of manufacturing soaps, oils etc.During the year 2008-09, the company acquired the business undertaking of PacHealth Medical Services Pvt Ltd on slump sale basis through a business transfer agreement and supplemental agreement for a total consideration of Rs 410 lakh. The company commenced med spa operations at Prabhadevi in Mumbai under the brand name Evolve.In February 2, 2009, the company opened centre at Walkeshwar, Mumbai. Also, they opened franchisee centre at Thane in Maharashtra. In April 7, 2009, they opened centre at Bandra, Mumbai and in May 2009, they started franchisee centre at Chennai in Tamil Nadu. In January 13, 2010, the company opened centre at Andheri in Mumbai. In March 2010, the companys Prabhadevi centre was merged with Bandra centre thus expanded the scope of services at Bandra centre. In June 25, 2010, Pacific Healthcare Holdings Ltd reduced their shareholding below 25% in the JV and the JV agreement was automatically terminated. In July 14, 2010, the company was converted into a public limited company and the name was changed to Birla Pacific Medpsa Ltd. Also, Evolve MedSpa won the Best Med Spa of The Year 2010 Award by Vogue, the up market fashion and lifestyle magazine in India.In August 2010, the company started i-lipo first time at Evolve. In October 2010, they opened centre at Atria Mall, Worli, Mumbai. In December 21, 2010, BPML had signed a Limited Liability Partnership Agreement with 7 Gynecologists from Mumbai to form a Birla IVF LLP.The company decided to discontinue the practice of opening Franchisee Centres. Hence, the two Franchisee centres operating at Thane and Chennai will continue to operate till the date of conclusion of their agreement, (i.e.) January 31, 2014 and June 1, 2012 respectively. The company plans to establish 55 outlets of Evolve Medspa across various cities and places.