Mumbai/Bengaluru, Feb. 12 -- Multinational pharmaceutical and biotechnology company USV Private Ltd has acquired around 79% stake in nutraceutical firm Wellbeing Nutrition in an all-cash deal, valuing the company at Rs.1,583 crore, the companies said on Thursday.

The deal will help Wellbeing deepen its presence in doctor- and pharmacy-led channels, co-founder Avnish Chhabria told Mint. "We required a pharma partner with deeper access to doctor and pharmacy networks to strengthen retention and repeat consumption, and to gradually make the business more prescription-led," Chhabria said.

The transaction marks the exit of early backers Fireside Ventures and Hindustan Unilever, who collectively hold a 40% stake in the company. USV has purcha...