Apollo Hospitals Enterprise Ltd on Thursday announced the execution of definitive agreements to acquire a 60 percent stake in the leading classical Ayurveda hospital chain, AyurVAID, in a combination of primary and secondary capital infusion.
“AyurVAID is a classical Ayurveda medical care provider, differentiated by rigorous, professional and contemporary care pathways, with Precision in Protocols, Documentation, Clinical Outcomes and Safety. These values make it the perfect vehicle for Apollo Hospitals’ effort to strengthen its holistic and integrated care offering for patients, and to mainstream Integrated Medicine at scale in India,” the hospital group stated on Thursday.
The hospital group claims that 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, it stated.
“Apollo Hospitals’ acquisition of the 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 company stated on Thursday.
The company also claimed that 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.
“Our acquisition of a majority stake in the 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, well-being, and holistic health are intertwined, 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,” Dr. Prathap C Reddy, Chairman, Apollo Hospitals, said in a statement.
According to a statement by Apollo Hospitals, the transaction consideration (including primary and secondary investment) is around Rs 26 crores.
“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 crores. for FY 23, the target is to achieve Rs 100 crores in the next 3 years,” the hospital group added.