Clearskincare Clinics will become a franchised network like larger rival Laser Clinics, after the provider of hair removal and botox injections flagged a $127.4 million acquisition by Australian Pharmaceutical Industries (API).

The purchase of Clearskincare's 44 clinics across Australia and New Zealand is another major consolidation of the market for aesthetic skin care, which last year saw private equity giant KKR pay over $600 million for Laser Clinics' 70-plus locations, while in February Advent Partners took a majority stake in 12-location SILK Laser Clinics.