AyurVAID Hospitals in Bengaluru. The new acquisition would enable Apollo Hospitals, the nation’s leading hospital chain, to enter the ayurvedic hospital market formally. The transaction is anticipated to be finalized in two weeks.
Moreover, Apollo Hospitals and the CEO of AyurVAID, Rajiv Vasudevan, are yet to confirm the progress. Earlier, the Apollo Hospitals and the 120-year-old Kottakkal Arya Vaidya Sala had discussed forming a wider collaboration, but the discussions were not successful due to patent and testing problems. AyurVAID became the country’s first Ayurveda hospital to be approved by NABH (National Accreditation Board for Hospitals & Healthcare Providers), the Quality Council of the country.
AyurVAID Hospitals is a network of ayurvedic hospitals that handles contemporary health issues. It runs nine hospitals and clinics in Bangalore, Kochi, Gurugram, and Uttarakhand. This multi-specialty Ayurveda hospital treats a variety of illnesses, including muscle/bone/joint issues, lifestyle and metabolic disorders, skin conditions, mental health problems, as well as digestive and respiratory disorders.
Rajiv Vasudevan, a graduate of the Indian Institute of Management, Calcutta (IIMC) and the National Institute of Technology, Calicut (NITC), established the firm 15 years ago. Prior to establishing the hospital chain, he held the positions of Country Head at Motorola PSG, India & SAARC; CEO at Technopark; CEO at NEST Technologies; and Regional Manager at Godrej & Boyce EBE.
For the quarter ending March 31, 2022, the publicly traded Apollo Hospitals Enterprise Ltd. reported consolidated sales of INR 3,577.15 crore, which is a decrease of 23.85 percent compared to the same period last year. The company’s consolidated profit after taxes decreased 46.3% to INR 90 crore in the January-March quarter. In the same quarter of the 2020-2021 financial year, the company’s net income was INR 168 crore.
