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Mumbai, Feb. 1 The Yash Birla group has acquired a majority stake in ayurvedic therapy centre chain Kerala Vaidyashala through a joint venture.

The Rs 3,000-crore group will hold 51 per cent stake in the new entity — called Birla Kerala Vaidyashala — and plans to invest Rs 50 crore in 200 new centres across major cities in 3 years.

“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,” Mr Yash Birla, Chairman of the Yash Birla Group, said.

Initially, it plans to open spa centres across Kerala, Goa, Mumbai, Bangalore, Kolkata and Chennai.

Kerala Vaidyashala, which has its roots in the Kozhikode district of Kerala, has set up a chain of 30 therapy centres across India. It specialises in offering treatments for lifestyle disorders, chronic health disorders, ayurvedic rejuvenation packages and day spa procedures, and also has a fully functional hospital and research centre.

“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 Mr Birla.

More Stories on : Mergers & Acquisitions | Alternative Medicines | Maharashtra

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