Chennai-based consumer healthcare products maker Curatio Healthcare (I) Pvt Ltd, which has recently completed a Series B funding round from Sequoia Capital, is now eyeing acquisitions to expand beyond its core area of dermatology.
Curatio would be using the fresh capital to accelerate its growth in Indian and the global markets.
VCCircle had first reported last November that Sequoia Capital is picking around 33 per cent stake in Curatio by investing close to Rs 100 crore. This deal involved a secondary component too where some existing shareholders sold their stake; so a part of this money went to the selling shareholders, including existing investor Fulcrum Venture India.
Abhay Pandey, managing director of Sequoia Capital India Advisors, will be joining the board as part of the investment.
Speaking on the strategy for growth, GK Ramani, managing director of Curatio Healthcare, said, “The focus will be on overseas expansion, strategic acquisitions and licensing opportunities.”
The firm also plans to increase its presence in product segments where it is not operating currently and will be looking at entering the nephrology and urology space.
“We want to enter other segments through acquisitions. We will be looking at acquiring other brands which are present in this space to broaden our base,” said Ramani.
Set up in 2005, Curatio manufactures prescription-based dermatology products that are sold in India, Sri Lanka and Nepal. It had a topline of Rs 62 crore last year and is aiming at clocking revenue of Rs 80 crore in the current financial year.
Meanwhile, the firm has named P V Sankar Dass as its chief operating officer (COO).
Dass, who comes with specialisation in sales, marketing, brand management, alliances and acquisitions, was previously working as vice president at drugmaker Dr Reddy's Laboratories Ltd.
He was involved with the strategy cell of the firm’s branded generics business and subsequently was region head for Latin America, Middle East and Asian markets (outside India). In his last role before quitting the company in November 2013, Dass was responsible for strategic marketing.
As per his LinkedIn profile, Dass had founded his own consulting outfit Stravidaz Consulting Pvt Ltd and joined Curatio as COO in November last year.
“He has rich experience in the pharma industry and is known for marketing abilities. Having him on board will strengthen our company,” said Ramani.
Interestingly, some of the five co-founders of Curatio had links with Dr Reddy's in their previous jobs.
(Edited by Joby Puthuparampil Johnson)