- 06 Oct 2022
- ICICIdirect Research
APOLLO HOSPITALS ACQUIRES AYURVEDA HOSPITAL CHAIN AYURVAID
APOLLOHOSP - 7421 Change: -3.45 (-0.05 %)News:
Apollo Hospitals has acquired a 60% equity stake in Kerala First Health Services for Rs 26.40 crore. The company offers quality systems driven Ayurveda medical care services under the AyurVAID Hospitals brand. The chain has eight centres across India, with turnover of Rs 9.3 crore in FY22. 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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Apollo’s acquisition of AyurVAID is aimed at delivering a unique co-managed care model, offering appropriate integration between modern medicine and Ayurveda. AyurVAID, established in 2005, is the leader in Precision Ayurveda. Beginning with a revenue estimate of over Rs 15 crore for FY 23, the management is aiming to achieve Rs 100 crore in the next three years. We believe this is an attempt by Apollo to tap into India and Ayurveda as a wellness destination due to rising demand for complementary medicine and therapeutic wellness experiences.
Impact:
Positive.