Corporate Updates

Mayar to open 14 Medispa, invest INR 400 cr in 3 yrs

Diversified business conglomerate Mayar Group said recently it will set up a chain of medical spa centres in the country with an investment of INR400 crore in the next three years and is also looking to have an inorganic growth in West Europe through acquisitions. The company is planning to open 14 such centres through its wholly-owned subsidiary Maya Health resorts limited (MRHL) and has opened its first such centre in the national capital with an investment of around INR 30 crore. The medical spa centre, a+Medispa, will have ayurvedic massage therapy, aesthetic medical skin care and other holistic beauty treatments to provide a complete health care solution to the customers, the company said. MRHL is also going to open the first Spa training and awareness academy in the country to provide training in the segment. “There is a huge opportunity available for trained professionals in the segment and it would be the first such step in the direction to provide quality training in the country,” Mayar Group CEO Naveen Gaur told reporters here. When asked about how the company would arrange funds for the expansions, Gaur said: “It will be met through debt and by equity partnership.” He, however, declined to divulge details. MRHL is also looking for acquisitions in the Far East Asia and in the West Europe for its global expansions. Mayar Group is a INR 3,000 crore business house with interests in publications, forests, agriculture products and hospitality.

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