Apollo Hospitals to acquire 60% stake in AyurVAID Hospitals for Rs 26.3cr
Apollo Hospitals Enterprise has agreed to acquire a stake of 60% in Ayurveda hospital chain Kerala First Health Services (AyurVAID Hospitals) for INR 26.37 crores through a mix of primary and secondary capital infusion.
Founded in 2005, AyurVAID Hospitals currently has eight in-patient hospitals in India, located across Bangalore, Kochi, Almora, and Gurugram.
Treatment stages at AyurVAID Hospitals range from preventive care, acute-on-chronic care, post-emergency care, and promotive care.
Rajiv Vasudevan — AyurVAID Hospitals Founder, MD, and CEO 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.”
Apollo Hospitals said that the stake acquisition in AyurVAID Hospitals is aimed at offering a unique co-managed care model that provides appropriate integration between modern medicine and Ayurveda.
Dr Prathap C Reddy — Apollo Hospitals Chairman said: “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.”