Karo Healthcare

What Karo Healthcare does

Karo Healthcare AB is a Stockholm-headquartered consumer healthcare company that owns and commercializes a portfolio of documented OTC brands across five everyday health categories: dermatology, foot health, digestive health, intimate health, and vitamins and mineral supplements. Its brand portfolio spans at least nine consumer franchises including Lamisil (antifungals), E45 (skin health, acquired from Reckitt in April 2022 for GBP 200 million), Nutravita (vitamins and supplements), Proct (digestive health), Multi-Gyn (intimate health), Flux (oral care), Remescar (skincare), Pevaryl (antifungals), and Paracet (pain relief), with four additional dermocosmetics brands (ACO, Biodermal, Emolium, Iwostin) added in April 2026 through the €332.6 million acquisition of Perrigo's branded Dermacosmetics business.

The company's revenue model is B2C brand monetization through retail and pharmacy distribution channels in more than 90 countries, with Europe and the Nordics as core markets. Karo operates a "scaled entrepreneurship" model in which cross-functional squad teams are organized around individual brands or categories, supported by shared back-office and regulatory infrastructure across 13 countries and approximately 460 colleagues. Go-to-market combines direct sales, omnichannel retail and pharmacy distribution, and selected licensing partnerships, including the November 2025 exclusive license with Moberg Pharma to commercialize MOB-015/Terclara across 19 European markets under the Lamisil brand.

Karo Healthcare is privately held by KKR following a 2025 buyout from EQT that was financed by €1.2 billion in direct lending from Apollo, and the company generates revenue exceeding €500 million on a pre-Perrigo basis. Organic growth is supplemented by 150 new product launches in 2023, and the firm has expanded its dermatology and foot-health pillars through serial brand M&A, with the Perrigo Dermacosmetics transaction adding approximately €120 million of net sales acquired.

Name

Karo Healthcare

Legal name

Karo Healthcare AB

Website

https://karohealthcare.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

251–500 employees

Short description

Karo Healthcare is a Stockholm-headquartered, KKR-owned consumer healthcare company that owns and commercializes OTC brands across dermatology, foot health, digestive health, intimate health, and VMS, distributing products through retail and pharmacy channels in more than 90 countries.

Ownership category

akta.pro rank

Product category

Consumer Healthcare Products

NAICS

Drugs and Druggists' Sundries Merchant Wholesalers (4242), Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

Perfumes, Cosmetics & Other Toilet Preparations (2844), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Hand & Body Care (Lotions, Creams, Body Oils) (CRADANAC)

akta.pro secondary industries

Foot Care (Deodorizing, Anti-chafe, Callus Care) (CRADANAK), Vitamins & Minerals (Single Nutrients) (CRADAGAB)

Keywords

• Consumer healthcare products
• OTC dermatology brands
• Foot health treatments
• Vitamins supplements
• Everyday healthcare portfolio

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Marketing or Sales, Supply Chain, Operations, Technology or R&D

Revenue model

1. Branded Consumer Healthcare Products: Karo Healthcare owns and commercializes a range of documented and trusted brands within key categories of everyday healthcare including dermatology, foot health, digestive health, intimate health, and vitamins & mineral supplements. Revenue is generated through product sales across retail and pharmacy channels.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Karo Healthcare owns and commercializes a portfolio of documented, trusted consumer healthcare brands across categories including foot health (Lamisil), skin health (E45, Remescar), digestive health (Proct), vitamins and mineral supplements (Nutravita), intimate health (Multi-Gyn), oral care (Flux), pain relief (Paracet), and dermocosmetics (ACO, Biodermal, Emolium, Iwostin). The company sells these branded products through retail, pharmacy, and omnichannel channels in more than 90 countries, with Europe and the Nordic region as core markets.

Product overview

Karo Healthcare is a European consumer healthcare company that owns and commercializes a range of documented and trusted brands within key categories of everyday healthcare. The company operates a multi-brand portfolio model with core brands in Digestive Health (Proct), Foot Health (Lamisil), Skin Health (E45), and Vitamins & Mineral Supplements (Nutravita), supplemented by brands in Intimate Health (Multi-Gyn), Oral Care (Flux), Skincare (Remescar), and Pain Relief (Paracet). Following the April 2026 acquisition of Perrigo's Dermacosmetics business, the portfolio expanded to include ACO, Biodermal, Emolium, and Iwostin. The company distributes products in over 90 countries with Europe and the Nordic region as core markets, generating revenue of over €500 million.

Differentiator

Problem solved

Functional benefit

Brands

• Proct: Digestive health products
• Lamisil
• E45
• Nutravita
• Remescar
• Pevaryl
• Flux
• Multi-Gyn
• Paracet

Products and services

• E45 Skin health brand offering moisturizers, creams, and emollients for dry skin conditions including eczema, dermatitis, and psoriasis. Sold to consumers through retail and pharmacy channels in the UK, South Africa, and Spain.
• Lamisil

Quantifiable outcome

• Revenue of €500+ million
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Perrigo Company plccoreOEM/ Whitelabel/ Licensing Partner · 30 April 2026Karo Healthcare completed acquisition of Perrigo's branded Dermacosmetics business for up to €332.6 million. The divested brands include ACO, Biodermal, Emolium, and Iwostin, which generated approximately €120 million in net sales in 2025. Deal consisted of €305.6 million upfront cash plus up to €27.0 million in contingent payments tied to net sales milestones.
• Moberg PharmacoreStrategic or Co-development Partner · 5 November 2025Exclusive licensing agreement for MOB-015 (Terclara), a new topical treatment for nail fungus. Karo Healthcare received rights to commercialize the product across 19 European markets including all major EU countries and the UK. The product will be marketed under the Lamisil brand, leveraging Karo's distribution network and established market presence in foot health.
• ReckittcoreOEM/ Whitelabel/ Licensing PartnerKaro Healthcare completed acquisition of the E45 brand from Reckitt for GBP 200 million in April 2022. The E45 dermatology brand focuses on skin health markets in the UK, South Africa, and Spain. This acquisition expanded Karo's presence in skin health and shifted the brand from offline to omnichannel sales.
• Operation SmileminorOthersKaro Healthcare has supported Operation Smile since 2018. Operation Smile performs about 15,000 surgeries per year for children with cleft lip or palate. For Karo, this represents a smart choice for everyday healthcare as part of their corporate social responsibility.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Stada Arzneimittel: European consumer healthcare and generics platform with a comparable portfolio of OTC and consumer health brands. Like Karo, Stada owns heritage brands across multiple therapeutic areas and pursues an M&A-led growth strategy with broad European distribution. Closest direct comparable on business model.
• Prestige Consumer Healthcare: US-listed OTC consumer healthcare brand portfolio company. Acquires, markets, and distributes OTC brands across North America. Highly comparable business model: brand acquisition, portfolio commercialization, and category expansion through OTC healthcare brands.
• Perrigo Company plc: Major global OTC consumer healthcare company and Karo's recent counterparty (sold Dermacosmetics business to Karo for €332.6M). Operates a similar multi-brand consumer healthcare platform across Europe, with overlapping categories including dermatology and skin health.
• Almirall: European dermatology-focused pharmaceutical company headquartered in Spain. Operates in skin health with both Rx and OTC products, directly overlapping with Karo's E45, Emolium, Biodermal, and ACO portfolio. Strong European commercial footprint comparable to Karo's.
• Omega Pharma: European OTC consumer healthcare brand platform (acquired by Perrigo in 2015). Operates a similar portfolio of heritage OTC consumer health brands across European pharmacy channels, with strong private-label capabilities comparable to Karo's brand acquisition model.

Broad incumbents

• Church & Dwight: Large US-listed consumer products company with a substantial consumer healthcare portfolio (Batiste, Waterpik, Trojan, First Response). Broader than Karo but operates a similar brand-acquisition and category-management playbook in personal care and OTC.
• Bayer Consumer Health: Global incumbent with a major consumer health division (Aspirin, Claritin, Bepanthen). Operates in overlapping OTC categories including dermatology (Bepanthen) and women's health. Larger and broader but competes in similar self-care aisles across Europe.
• Teva Pharmaceutical Industries: Global generics leader with a significant consumer healthcare/OTC division in Europe. Competes in similar OTC categories and pharmacy channels as Karo, though consumer health is one segment within a broader pharma business.
• Viatris: Global healthcare company formed via Mylan-Upjohn merger with a meaningful consumer healthcare/OTC business (e.g., Cold-Eeze, Dulcolax). Broad incumbent with European footprint, though consumer health is one segment alongside generics and specialty.

Emerging players

• Galderma: Pure-play dermatology company (formerly Nestlé Skin Health, owned by EQT). Directly comparable in dermatology focus and EQT-backed pedigree, though more skewed toward Rx/med-aesthetic. Overlaps with Karo's skin health brands.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/karo-pharma-ab

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Karo Healthcare