Hexane, ethyl acetate and methanol extracts of leaves were analyzed for anti-oxidant and free radical scavenging abilities, of which ethyl acetate extract showed maximum activity. In addition, ethyl acetate extract also displayed high amounts of phenolic and flavonoid contents. 5-LOX, COX-1 and COX-2, enzymes involved in inflammatory processes, were also inhibited by the ethyl acetate extract. Lipopolysaccharide induced expression of pro-inflammatory genes (TNF-α, COX-2 and IL-1β) was inhibited in a dose dependent manner in human keratinocyte cell line (HaCaT cells) treated with the ethyl acetate extract. Further, the ethyl acetate extract induced the proliferation of HaCaT cells at lower concentrations with no alteration of morphology. Scratch wound healing model confirmed the wound healing capabilities of the ethyl acetate extract. This study highlights the potential of the ethyl acetate extract of H. colorata leaves as an anti-inflammatory and wound healing agent.