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Apollo Hospitals Enterprise (AHEL) has announced the execution of definitive agreements to acquire a 60 per cent stake in AyurVAID, a leading classical Ayurveda hospital chain.
The acquisition will be through a combination of primary and secondary capital infusion totalling ₹26 crore, the healthcare major said in a press release.
Established in 2005, AyurVAID has touched more than 3 lakh lives so far, and is a pioneer in precision ayurveda. It was the first NABH accredited Ayurveda hospital, the first National Quality Award winner from the Ayurveda sector, and currently has eight in-patient hospitals, including four hospital-in-hospital units.
Prathap C Reddy, Chairman, Apollo Hospitals, said, “Today, medicine, wellbeing and holistic health are intertwined, and there is a need to serve individual and community health needs through the most appropriate combination of treatments and lifestyle interventions. We believe 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.”
Apollo Hospitals said the primary investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives.
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Rajiv Vasudevan, Founder, MD & CEO, AyurVAID Hospitals said: “By joining hands with Apollo Hospitals, the pre-eminent healthcare provider in India and the region, we have taken a decisive step forward. A new generation of discerning healthcare consumers seeks the best of both worlds - Allopathy and Ayurveda.”
Beginning with a revenue estimate of over ₹15 crore for FY23, AyurVAID is aiming at ₹100 crore in the next three years.
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