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Apollo Hospitals Acquires 60% Stake In Ayurveda Hospital Chain AyurVAID
The investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives, the healthcare major said in a regulatory filing
Topics
Apollo Hospitals | Ayurvedic hospitals
Apollo Hospitals Enterprise Ltd on Wednesday said it has acquired a 60 per cent stake in leading classical Ayurveda hospital chain AyurVAID for a consideration of Rs 26.4 crore.
The investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives, the healthcare major said in a regulatory filing.
Beginning with a revenue estimate of over Rs 15 crore for FY23 for AyurVaid, the target is to achieve Rs 100 crore in the next three years, it added.
"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. This will be a transformational journey, which will lead to the evolution of care models in India and around the world," Apollo Hospitals Enterprise Chairman Prathap C Reddy stated.
The Apollo-AyurVAID partnership will be a beacon of hope not just for Indian citizens, but for medical value travellers from around the world, he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Wed, October 05 2022. 20:18 IST
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