AUSTRALIAN Pharmaceutical Industries has completed the first stage of its acquisition of Clearskincare Clinics as per its original commitment (PD 25 Jun).
API has bought an initial 50.1% controlling interest in the clinics and 100% of the skincare products business, with the balance to be completed across 2020 and 2021.
API ceo and md Richard Vincent said the company was already well progressed with integration plans.
"The acquisition is highly compelling and complementary," he said, claiming the deal would add value for customers & shareholders.
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