Hospital News

AyurVAID to set up hospitals in tier II cities, metros

Kerala-based AyurVAID hospitals will be setting up six hospitals in the coming year in tier II cities and metros, with an equity investment of INR 4.5 crore, provided by a non-profit venture fund Acumen, US. Within the next 12 months, the hospitals would come up at six new locations, including Bangalore, Chennai, Mumbai and Hyderabad, Rajeev Vasudevan, founder and CEO of AyurVAID hospitals told reporters here. AyurVAID, promoted by Kochi-based Kerala First Health Services Ltd, has employed an unique medical services model that appropriately integrates classical Kerala Ayurveda medical practice with contemporary medical science, he said. Vasudevan said AyurVAID plans to focus chronic illness as studies have shown that 68 per cent of deaths in the country will be due to chronic diseases. AyurVAID has set a goal of 60 per cent of its bed capacity for patients from the middle and low income groups. The treatment costs for the BPL families would be very low, he said. The group was also focusing on training programmes where senior ayurveda doctors can coach and mentor junior doctors. AyurVAID hospitals is empaneled as a network hospital by 12 of India’s leading medical insurance service providers and most leading Third Party Administrators facilitating cashless Ayurveda medical management insurance policy holders. Biju Mohandas, Acumen Fund’s India business head, said the US-based global social venture capital fund had invested about 16 million USD in India for health, water, energy and housing. The fund had set up high quality maternity hospitals on JV basis with the Hindustan Latex in Andhra Pradesh.

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