Apollo Hospitals Enterprise Ltd has acquired 60% stake in AyurVAID, an Ayurveda hospital chain, for a consideration of Rs. 26.4 crore, stated a press release. The investment will be used to upgrade the existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives, as per the regulatory filing by the healthcare giant, Apollo Group.
The target is to achieve Rs 100 crore in the next three years, beginning with a revenue estimate of over Rs 15 crore for FY23 for AyurVaid.
Apollo Hospitals Enterprise Chairman Prathap C Reddy has said that there is immense scope to deliver evidence-based integrated medicine, combining allopathic and traditional models, to improve outcomes and quality of life for the patients. He further added that the move will be a transformational journey, leading to the evolution of care models in India and around the world.
Apollo Hospitals Enterprise Limited is an Indian multinational healthcare group headquartered in Chennai. In addition to hospital chain, the company also operates pharmacies, primary care and diagnostic centres, and telehealth clinics through its subsidiaries. Meanwhile, the Bengaluru-based AyurVAID Hospitals is a chain of ayurveda hospitals that treats modern health problems. It has operations in nine hospitals and clinics across Kochi, Gurugram, Uttarakhand and Bangalore.
The multi-specialty Ayurveda hospital offers treatments for a range of diseases including muscle/ bone/ joint disorders, lifestyle and metabolic disorders, skin conditions, mental health, gastrointestinal and respiratory disorders.
The Apollo-AyurVAID partnership will be a beacon of hope not just for Indian citizens, but for medical value travellers from around the world, said the Apollo Hospitals Enterprise Chairman, Prathap C Reddy.