Kaya increases stake in Iris Medical Centre

Kaya, an Indian skincare firm, along with a local partner, has bolstered its interest in UAE-based Iris Medical Centre to 85%.

It has acquired 10% further interest for an undisclosed amount.

In a filing, Kaya informed Bombay Stock Exchange: "Kaya Middle East DMCC, a foreign subsidiary of Kaya Ltd along with its local partner, has additionally acquired 10% of beneficial interest in Iris Medical Centre LLC at Abu Dhabi (IRIS) through MoA and Assignment of shares of IRIS on March 24, 2016."

It also added: "Thus, Kaya Middle East DMCC now holds 85% beneficial interest in IRIS".

In 2015, Kaya had stated that it would purchase 75% interest in Iris Medical Centre, a firm that is involved in the offering skincare services and operates one clinic in Abu Dhabi, in a tie-up with a local firm.

Kaya forayed into Middle East in 2004, reported Business Standard.

It has opened its first clinic in Dubai.

Currently, it runs more than 21 skin clinics across UAE, Saudi Arabia, Kuwait and Oman.

In India, it has over 100 clinics as well as more than 100 Kaya Skin Bars spread across 27 cities.