SILK Laser Clinics to Be Acquired by Wesfarmers’ API

Adelaide-born SILK Laser Clinics is set to be acquired by Wesfarmers’ subsidiary Australian Pharmaceutical Industries Limited (API) for a reported $169 million.

The non-binding, indicative and conditional proposal by API would secure SILK shareholders with $3.15 per share, at a premium of 30.2 percent.

API, who already counts Clear Skincare Clinics as a supplier, also has a sizable reach over the Australian pharmaceutical space, encompassing Priceline, Pharmacist Advice and Soul Pattinson Chemist. 

According to API’s website, the company’s services include wholesale product delivery, retail services, marketing programs and business advisory services.

“SILK has grown from a single store in South Australia, to listing on the ASX a few short years ago, growing the network to more than 140 stores. We believe that this is the next phase of growth for our company and most importantly, our shareholders and franchise partners,” shared SILK Laser Clinics Founder and Managing Director, Martin Perelman.

Read about SILK Laser Clinics’ partnership with BTL Aesthetic EMSCULPT here.

On the acquisition, Martin said: “A business of this size, means that we will have the ability to continue to grow our systems, processes and our brand. All in all, we know there will be significant benefits and enhancements in the way that we do things.”

SILK Laser Clinics was founded in 2009 and currently operates out of 142 clinics. The provider of non-surgical offerings specialises in laser, skin and body treatments, as well as cosmetic injectables. The business also stocks a namesake skincare, and is the exclusive clinic partner of Aesthetics RX.

According to Business News Australia, SILK Laser Australia also owns brands Australian Skin Clinics (ASC), The Cosmetic Clinic (TCC), Unique Laser and Eden Laser Clinics.

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