Apollo ventures into Ayurveda Hospitals, acquires 60pc stake in AyurVAID
Chennai: With an aim of providing integrated medical care, India's leader in multi-speciality chain of hospitals, Apollo Hospitals has announced the execution of definitive agreements to acquire a 60% stake in leading classical Ayurveda hospital chain, AyurVAID, in a combination of primary and secondary capital infusion.
AyurVAID, established in 2005 currently has 8 In-Patient hospitals, including 4 Hospital-in-Hospital units. Of these 5 are NABH accredited and 1 is JCI accredited. Treatment stages range from Preventive Care, Acute-on-Chronic Care, Post-Emergency Care, and Promotive Care. AyurVAID pioneered cashless Ayurveda treatments through leading insurance companies and institutional tie-ups. It was the first NABH accredited Ayurveda hospital, the first National Quality Award winner from the Ayurveda sector.
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 teams will carry forward the shared belief of Evidence-Based Practice. The transaction consideration (including primary and secondary investment) is ~ Rs 26 crs. The primary 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 crs. for FY 23, the target is to achieve Rs 100 crs. in the next 3 years.
Apollo Hospitals' acquisition of stake in AyurVAID is aimed at delivering a unique Co-Managed Care Model, offering appropriate integration between modern medicine and Ayurveda. It is a recognition of the wisdom and efficacy of ancient Indian medicine, and its appropriateness, to provide a holistic model of healing for the individual, focused on functional health and enhancing quality of life.
The partnership will also strive to build path-breaking research in Integrative Medicine through clear, differentiated research methodology to establish credible evidence for Ayurveda's safety and efficacy.
Commenting on the development, Dr Prathap C Reddy, Chairman, Apollo Hospitals, 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. 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. The Apollo-AyurVAID partnership will be a beacon of hope not just for Indian citizens, but for medical value travellers from around the world. We welcome the AyurVAID team to the Apollo Hospitals family. "
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. Standalone Ayurveda hospitals and clinics combined with our pioneering hospital-in-hospital model shall make accessible precision Ayurveda across India and, progressively, across the world. The Apollo-AyurVAID partnership shall synergistically deliver on the promise of a new era of appropriately integrative, digitally enabled, patient-centric care across the patient's life cycle. AyurVAID is delighted to become a member of the Apollo Hospitals family."
