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Thu 07, May 2009

Dr Batra’s, Nu/Hart form Joint Venture for hair care solution

In a new development, Homeopathic healthcare corporate Dr Batra’s and US-based Nu/Hart Hair Transplant Clinics have formed a strategic alliance. The 51:49 joint venture is aimed at owning, building and driving the hair restoration market in India.

Speaking about the new alliance, Dr Mukesh Batra, founder and CMD, Dr. Batra’s, said, “We are pleased to join hands with Nu/Hart to bring the latest in hair transplantation solutions to India. With this new union, Dr Batra’s aims at being a one stop solutions provider, specialising in hair related matters. It is a matter of pride that we shall be foraying into the speciality markets beyond homeopathy for the first time.”

Sharing her views about this new venture, Kathy Smith, president, Nu/Hart International said, “I am confident that this joint venture will result in the development of multiple hair transplant centers throughout India.”

The first state-of-the-art flagship clinic is already operational at Nariman Point, Mumbai. Moving forward, around 10 flagship clinics are expected to come up over the next three years and a tentative budget of Rs 200 million has been set aside for a pan-India expansion.

According to the market research conducted, India represents a key market for hair restoration solutions as the Indian market for the beauty and allied service industry is USD 6.3 billion with an annual growth rate of 13 per cent. It is estimated that 36 per cent of the population invest in hair care.