The Hindu Business Line : US philanthropy fund invests in AyurVaid

Kochi, June 12 AyurVAID Hospitals, promoted by Kochi-based Kerala First Health Services Pvt Ltd, announced on Thursday equity investment of Rs 4.5 crore by Acumen Fund of the US, a non-profit venture philanthropy fund that invests in social enterprises in South Asia and Africa.

AyurVAID plans to leverage the Acumen investment to expand its footprint and pioneer the development of a low-cost health care delivery system that focuses on preventive and curative care as an alternative to the highly capital intensive and curative system presently used to treat chronic ailments, Mr Rajiv Vasudevan, Founder and Chief Executive Officer of AyurVAID said at a press meet.

Acumen’s initial equity investment will enable AyurVAID to open six more hospitals across the country in the next 12 months. AyurVAID has set itself the goal of 60 per cent of its bed capacity for patients from the middle and lower socio-economic classes, he said

Company facilities

Over the last two years, he said the company has successfully employed a unique medical services model that appropriately integrates classical Kerala Ayurveda medical practice with contemporary medical science to deliver healthcare to patients suffering from chronic ailments, ranging from diabetes to arthritis.

The first 15-bed AyurVAID hospital in Kochi is now two-years-old and the second 60-bed one has been functioning at Aluva, near Kochi, since April 2007.

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