Apollo Hospitals has announced the execution of definitive agreements to acquire a 60 per cent stake in Ayurveda hospital chain AyurVAID in a combination of primary and secondary capital infusion. The transaction consideration including primary and secondary investment is around Rs 26 crore.
The primary investment, the company said, will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives. Beginning with a revenue estimate of over Rs 15 crore for FY23, the target is to achieve Rs 100 cores in the next three years.
Established in 2005, AyurVAID was the first National Accreditation Board for Hospitals & Healthcare Providers (NABH) accredited Ayurveda hospital in India. It was also the first National Quality Award winner in the Ayurveda sector. At present, the hospital has eight in-patient hospitals, including four hospital-in-Hospital units.
Treatment stages range from Preventive Care, Acute-on-Chronic Care, Post-Emergency Care, and Promotive Care. AyurVAID pioneered cashless Ayurveda treatments through leading insurance companies and institutional tie-ups. Apollo Hospitals’ acquisition of stake in AyurVAID is aimed at delivering a unique Co-Managed Care Model, offering appropriate integration between modern medicine and Ayurveda.
“There is immense scope to deliver evidence-based integrated medicine, combining allopathic and traditional models, to improve outcomes and quality of life for our patients. This will be a transformational journey, which will lead to the evolution of care models in India and around the world,” Dr Prathap C Reddy, Chairman, Apollo Hospitals, said.
In addition to the strong belief in the system among Indian patients, Ayurveda has a growing influence on holistic healthcare and wellness tourism. The Global Ayurvedic Market has been growing at an average annual rate of 16.2 per cent since 2015, reflecting the rising demand for complementary medicine and therapeutic wellness experiences.
The emergence of Ayurveda centres with international certifications of quality practice is fuelling the growth of medical and wellness tourism in the country with special focus on treatment of serious non-communicable diseases across medical specialties and for rehabilitation. Ayurveda has established India as a genuinely world-class medical and wellness destination.
“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 Reddy.
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