Novena Global Lifecare, a Singaporean medical healthcare and aesthetic firm, has completed a $350 million merger with Chinese modern hair salon brand Xingkeduo.
Novena noted that the merger provides it with access to Xingkeduo’s internet technology and physical network of nearly 100 stores in high foot-traffic prime locations in China’s first- and second-tier cities.
DORR Group, the parent company of Novena, also said that the transaction will reinforce Novena’s presence in the aesthetics beauty and wellness industry in the Asia Pacific.
Furthermore, Xingkeduo has so far secured a total of $18.9 million in over four funding rounds.