Yash Birla Group, the diversified Rs 3,000 crore business house in India, on Wednesday announced the acquisition of a majority stake in Kerala Vaidyashala, a Ayurvedic Therapy Centre chain, through a joint venture. No financial details of the transaction has been disclosed.
The Group will hold a 51 per cent majority stake in the new entity, Birla Kerela Vaidyashala, and plans to invest Rs 50 crore over the next three years to expand its presence across the country. This venture is an extension of the Group's foray into the healthcare and wellness industry, announced last year.
Kerala Vaidyashala has its roots in the Calicut district of Kerala from where they branched out to open the first stay spa at Aluva near Kochi. The Kerala Vaidyashala, a brain-child of Kunhirama Kuroop, was further expanded in the late nineties by his grandsons Harshajeet and Vishwajeet by setting up a chain of 30 therapy centres across India.
"Our Group has identified Healthcare, especially Ayurveda, as a major focus area for the future and we are in the process of defining numerous forays into this sector", said Yash Birla, Chairman of the Yash Birla Group. "This acquisition", he added, "is the first in a series of initiatives that we will be launching in this sector." The Yash Birla Group has 20 diversified companies which are into Auto Engineering, Power Solutions, Textiles and Machines Tools, Education, Information Technology, Solar Power,
Birla Kerala Vaidyashala focusses on offering treatments for lifestyle disorders, chronic health disorders which conventional medicines may not be able to treat. As part of its portfolio, it already has a hospital and research centre, Panchakarma training centres and Ayurvedic medicine & equipment manufacturing units. It also has an economy centre at Aurangabad to promote Ayurveda to tier II & III towns.
As part of its immediate plans, Birla Kerela Vaidyashala has earmarked Rs. 50 crores to open 200 centres, owned and franchisee, stay spas and cruise spas and 19 economy centres across Maharashtra. Birla Kerala Vaidyashala will have its spa centres across Kerala, Goa, Mumbai Bangalore, Kolkata and Chennai.
