 "Eris Lifesciences")
Branded formulations major Eris Lifesciences Limited on Wednesday announced its foray into dermatology by acquiring 100 per cent stake in Mumbai-based domestic formulations company Oaknet Healthcare Pvt Ltd for Rs 650 crore.
The acquisition will be completed by way of a share purchase agreement as a result of which Oaknet will become a
wholly-owned subsidiary of Eris. The deal will be financed by Rs 300 crore of internal accruals and Rs 350 crore of borrowings.
With a revenue base of Rs 195 crore in FY22, Oaknet brings a portfolio of leading brands in dermatology and women’s health to the Eris stable.
The acquisition of
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