Ayurveda wellness clinics is turning fashionable for investors. Yash Birla Group, a part of the Birla clan, has acquired a majority stake in Kerala Vaidyashala, leading ayurvedic therapy centre chain, through a joint venture.
Financial details of the transaction have not yet been disclosed. Yash Birla group will hold a 51% stake in the joint venture called Birla Kerala Vidyashala. The joint venture is in line with the group's plans to enter the healthcare and wellness industry. This is the first acquisition in the series of initiatives that the group plans to launch in this sector.
The Rs 3,000 crore diversified group will invest Rs 50 crore over the next three years to expand its presence across India. Birla Kerala Vaidyashala plans to open 200 centres across Maharashtra. These would include owned as well as franchisee centres.
Birla Kerala Vaidyashala will also have its spa centres across Kerala, Goa, Mumbai Bangalore, Kolkata and Chennai. The joint venture will focus on providing treatment for lifestyle disorders and chronic disorders that may not get treated with the conventional medicines. Birla Kerala Vidyashala already has a hospital and research centre, Panchakarma training centres and Ayurvedic medicine & equipment manufacturing units as part of its portfolio.
Kerala Vidyashala started in the Calicut (Kozhikode) district of Kerala. It opened its first stay spa at Aluva near Kochi. It further expended across India around the late nineties as it set up a chain of 30 therapy centers across India.
It was founded by Kunhirama Kuroop and was expanded by his grandsons Harshajeet and Vishwajeet. While Harshajeet Kuroop will continue as the Managing Director of the new entity, Yash Birla will be the chairman of Birla Kerala Vaidyashala.