Apollo AyurVAID announces foray into the Ayurveda product segment

Mumbai, Jul 9 (PTI) Ayurveda hospital network Apollo AyurVAID on Wednesday announced its foray into the Ayurveda product segment with a capital outlay of Rs 15 crore, which will help the company cross Rs 500 crore revenue in the next five years.

This foray into the new vertical not only complements the inpatient-outpatient care model but also opens scalable revenue opportunities and reinforces the vision of mainstreaming evidence-based Ayurveda services and products by making it accessible globally, Apollo AyurVAID founder, MD and CEO Rajiv Vasudevan said in a statement.

"We anticipate this portfolio will be a key growth driver, with a revenue aspiration of Rs 500 crores in the next 5 years," Vasudevan said.

The Ayurveda products division is being developed as a business unit of Apollo AyurVAID, which is a National Accreditation Board for Hospitals and Healthcare Providers (NABH)-accredited precision Ayurveda hospital network.

While classical formulations will be available through prescription, the OTC (over the counter) and medical foods lines will be available through a wide network of retail and digital platforms.

"As we enter the Ayurveda products space, our broader vision is to take the Apollo AyurVAID brand across the length and breadth of India. In the current fiscal we plan to expand our hospital network in an asset-light manner by adding 9 new points of presence, scaling our bed capacity to 350, and aiming to treat over 50,000 patients.

"With a CAGR of 75 per cent over the last 2-3 years, we are on track to surpass the annualised Rs 100 crore revenue mark by mid next year," Vasudevan added.

India's Ayurveda products market is around Rs 60,000 crore, which is growing at over 16 per cent annually, the company added. PTI SM MR MR