The Hindu Business Line : Dr Batra’s homeopathy clinics set to go global

Mumbai, May 26 Over 10 years ago, when Dr Mukesh Batra tried to set up his homeopathy clinics in an overseas market, it was uncharted territory that could have even landed him in prison, he quips.

But that experience long past, the homeopathy retail chain Dr Batra’s Positive Health Clinic Private Ltd is now set to see a burst of overseas activity this year – including setting up clinics in Muscat, scouting for land in London and testing the water in the US, the Chairman and Managing Director, Dr Batra told Business Line. In Muscat, Dr Batra’s clinics have entered into a joint venture with Llama Clinic, which runs hospitals in the region, he said. Two homeopathic clinics will be operational in Muscat, end of May, and four more are scheduled in six months, he added.

On invitation from London First, a group that facilitates doing business with the city, Dr Batra is scouting for land for clinics there, he said. The chain has been in and out of London in the past with a partner, but this time Dr Batra’s will go it alone, he added.

On the regulatory front, Dr Batra’s will be able to advertise its services, though not its products in the London and US markets, he clarified.

Diluting equity

The year will also see Dr Batra’s taking a call on diluting equity to raise funds to fuel further growth. Venture capital firms have shown interest in the company, he said, indicating that a decision would be taken this year. It may also explore getting a strategic partner into the company, he added.

A process of restructuring is on, he said, where a holding company may be floated for the overseas expansion. The company is testing the waters in the US. Also on the radar are West Asian countries, Bangkok and Hong Kong, he said. For starters, the products will be sourced and exported from India, he added.

Global market

The global alternative therapy or ‘complementary medicine’ market is estimated at Rs 85,000 crore, he said, encompassing the entire gamut from Chinese medicine to Ayurveda, Reiki and so on, and growing at 25 per cent. The fear of side-effects caused by chemical medicines is one of the major drivers of consumers to these therapies, he admitted.

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