Matrix Partners Picks Up Stake in Kolkata Based Aesthetic and Cosmetic Studio, EnhanceTeam YS
Enhance Aesthetic and Cosmetic Studio Private Limited is a provider of cosmetology care in Kolkata, Delhi and Mumbai. Services provided by Enhance are hair transplant, weight loss surgeries and other enhancements in breast, face and others. Matrix Partners India announced today that it has picked up a significant minority stake in Enhance as the sole investor in the first institutional round of equity funding for the Company.
Enhance started operations in Kolkata and now has expanded to four centres including Delhi and Mumbai. Enhance is led by Dr. Manoj Khanna, a pioneer in hair transplant and weight loss surgeries and the trusted cosmetic surgeon of many celebrities in India as well. “Enhance began with a dream of providing end to end cosmetic surgery care. Surgical outcomes have been our focus from day one and we will continue to stand by it. Our goal is to build the first holistic cosmetology services brand in India and the partnership with Matrix will enable us to move faster given their strong background in healthcare services” said Dr. Manoj Khanna, Founder of Enhance.
Immediate expansion plans for Enhance include expanding its footprint across metros with more centres of surgical excellence. In the next five years, Enhance plans to be a pan-India network while retaining its focus on outcomes and quality patient care. Enhance is in the process of ramping up teams on both the clinical (Cosmetic and Derma Surgeons) and management fronts and also announced the appointment of Mr. Sanjeev Mahajan as CEO of Enhance. He was most recently the CEO of Spice Hotspot.
Commenting on the investment, Avnish Bajaj, Co–founder & Managing Director, Matrix India. said, “Dr. Manoj Khanna has done pioneering work in bringing world class cosmetic care to India and has the vision to build a well renowned institution. We believe that the cosmetic surgery and dermatology sector is at an inflection point driven by growing customer demand, standardization of processes and supply of quality medical infrastructure and are privileged to be associated with Enhance. We have an important franchise in specialty healthcare services and it is a delight to announce the 4th investment in this sector.”