Yash Birla group to invest Rs 500-mn for expansion

Mumbai: The Yash Birla group has announced the acquisition of a majority stake in Kerala Vaidyashala, a leading ayurvedic therapy centre chain, through a joint venture.

The group will hold a 51 per cent majority stake in the joint venture called Birla Kerala Vidyashala, a press release issued here on Wednesday stated.

An investment of Rs 50-crore is envisaged over the next three years to expand its presence pan-India, the release said.

“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,'' Yash Birla Group's Chairman, Mr Yash Birla, said.

“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 focussed investment and stategic acquisition s,'' he added.

Kerala Vaidyashala has its roots in the Calicut district of Kerala from where it branched out to open the first stay-spa at Aluva near Kochi and was further expanded in the late-1990s by setting up a chain of 30 therapy centres across India, the release said.