Yash Birla Group has declared the possession of a majority stake in Kerala Vaidyashala, a leading Ayurvedic Therapy Centre chain, through a joint venture.
The Group will hold a 51% majority stake in the new entity, Birla Kerela Vaidyashala. The Birla Group also plans to invest Rs 50 crore over the next three years to expand its presence across the country. The company had announced last year that this venture is an extension of the Groups foray into the healthcare and wellness industry.
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.
According to the Chairman of the Yash Birla Group, Mr. Yash Birla, "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."
Moreover, he added, "This acquisition is the first in a series of initiatives that we will be launching in this sector. Our aim is to create a commanding and leading presence in the Ayurvedic and herbal Healthcare segment through focused investment and strategic acquisitions."
Birla Kerala Vaidyashala specializes in offering treatments for lifestyle disorders, chronic health disorders which conventional medicines may not be able to treat. It also offers ayurvedic rejuvenation packages and day spa procedures.
As part of its portfolio, it already has a fully functional 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. Birla Kerela Vaidyashala is a fully integrated Ayurvedic Healthcare company. It also offers comprehensive medical Ayurvedic solutions.
As part of its immediate plans, Birla Kerela Vaidyashala has earmarked Rs. 50 crores to open 200 centres, owned and franchisee, high end luxury stay spas and cruise spas and 19 economy centres across Maharashtra.
Birla Kerala Vaidyashala will establish its spa centres across Kerala, Goa, Mumbai Bangalore, Kolkata and Chennai. In Mumbai it has recently opened a new centre in Juhu, and will be shortly opening centres in Prabhadevi and Napeansea Road.
The Franchise Model is adopted to encourage entrepreneurship as well as to penetrate rapidly into the burgeoning mini-metros and Class 1 Towns.
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