KOCHI: Healthcare major Apollo Hospitals Enterprise Ltd (AHEL) is foraying into ayurvedic treatment segment by acquiring 60 per cent stake in Kerala First Health Services Pvt Ltd (KFHSL) for Rs 26.40 crore.
The primary investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms and for digital health initiatives, AHEL said in an official statement submitted in a regulatory filing.
Incorporated in 2005, KFHSL offers quality ayurveda medical care services under “AyurVAID Hospitals” brand. Currently, it has eight in-patient hospitals, including four hospital-in-hospital units.
Through the acquisition, Apollo Hospitals is aiming to strengthen its holistic and integrated care offering for patients, and to mainstream integrated medicine at scale in India. “The collaboration will ensure that tailored treatment pathways and options are available for patients, who will be treated by a multi-disciplinary clinical team, spanning allopathy and Ayurveda,” the official statement. The statement also quoted Dr Prathap C Reddy, Chairman, Apollo Hospitals, as saying “Our acquisition of a majority stake in leading Ayurveda hospital chain AyurVAID is a natural corollary to our mission to bring healthcare of international standards within the reach of every individual. Today, medicine, wellbeing and holistic health are inter-twined, and there is a need to serve individual and community health needs through the most appropriate combination of treatments and lifestyle interventions, across a period of time. 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.”
Rajiv Vasudevan, Founder, MD & CEO, AyurVAID Hospitals, said “AyurVAID was conceived with the vision to pioneer and lead the transformation of Ayurveda into a mainstream system of medicine. Over the years we have built a strong protocols & clinical-outcomes-driven precision Ayurveda care model, which is scalable and replicable. By joining hands with Apollo Hospitals, the preeminent healthcare provider in India and the region, we have today 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 Rs 15 crore for FY 23, the target of the joint venture is to achieve Rs 100 crore in the next three years.