Apollo Hospitals Enterprise Ltd acquired a 60 per cent stake in an Ayurveda hospital chain called AyurVAID for a consideration of Rs 26.4 crore, stated a press release.
As per the regulatory filing by Apollo group, the investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives.
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,” PTI quoted Apollo Hospitals Enterprise Chairman Prathap C Reddy as saying.
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.
Source: Economic Times