In a combination of primary and secondary capital infusions, Apollo Hospitals has completed definitive agreements to acquire a 60 percent stake in Ayurveda hospital chain AyurVAID.
There is a total consideration of around Rs 26 crore for the transaction, which includes primary and secondary investments.
As part of the investment, the company plans to upgrade existing centers, set up new centers, strengthen enterprise platforms, and launch digital health initiatives. In the next three years, the target is to achieve Rs 100 cores with a revenue estimate of over Rs 15 crore for FY23.
In 2005, AyurVAID became the first Ayurveda hospital in India to be accredited by the National Accreditation Board for Hospitals & Healthcare Providers (NABH). In addition, it was the first Ayurvedic company to receive a National Quality Award. Hospital-in-Hospital units consist of four of the hospital’s eight inpatient hospitals.
Acute-on-chronic care, post-emergency care, and promoter care are the stages of treatment. Through leading insurance companies and institutional partnerships, AyurVAID pioneered cashless Ayurveda treatments. With its acquisition of AyurVAID, Apollo Hospitals aims to provide a unique Co-Managed Care Model that integrates modern medicine and ayurveda.
In order to improve outcomes and quality of life for our patients, we can deliver evidence-based integrated medicine, combining allopathic and traditional models. In India and around the world, this will be a transformational journey that will lead to the evolution of care models,” said Apollo Hospitals Chairman Dr Prathap C Reddy.
“This Apollo-AyurVAID partnership will be a beacon of hope not only for Indian citizens, but for medical value travelers from around the world,” said Reddy.