Healthcare Triangle has signed a non-binding Letter of Intent to acquire a 51% equity stake in CosmoAesthetics Pty, operating under the brand CosmoInnovations, a Melbourne, Australia-based innovator in MedTech, BeautyTech, and consumer-health products. The proposed total consideration is $23.5 million, structured through cash, equity, and performance-linked milestones over three years.
The transaction marks a pivotal evolution in Healthcare Triangle’s corporate strategy, transitioning the company from a pure-play healthcare IT services provider into a product-led healthcare innovation platform. CosmoInnovations brings a portfolio of more than 25 proprietary technologies spanning skincare, photobiomodulation, respiratory wellness, oral health, pain management, transdermal delivery, and home-based consumer care, backed by 27 granted international patents and 61 pending applications.
According to CosmoInnovations’ management, the business is targeting more than $50 million in cumulative revenue over the first three years post-acquisition, accelerating to an annualized run-rate of approximately $33 million by year three. CosmoInnovations is an alumni company of Johnson & Johnson Innovation – JLABS, having completed a four-year residency at JLABS Shanghai. As part of the transaction, Healthcare Triangle will initiate independent intellectual property and financial due diligence to verify CosmoInnovations’ patent portfolio.
KEY QUOTES:
“This acquisition represents the next phase of Healthcare Triangle’s growth. We are bringing enterprise healthcare technology, artificial intelligence, proprietary intellectual property and connected consumer products together within one integrated platform.”
David Ayanoglou, Chief Financial Officer, Healthcare Triangle
“Joining Healthcare Triangle would provide access to the artificial-intelligence capabilities, healthcare infrastructure, international network and capital-markets platform to help accelerate commercialization of our portfolio.”
Dr. Mathew Jafarzadeh, Founder and Director, CosmoInnovations
