Investment in technology, tie-ups with insurance & financial institutions and picking up stakes in related wide distribution channel companies will be key growth drivers
MUMBAI, July 6: Madhavbaug, a brand of NSE listed Vaidya Sane Ayurved Laboratories Ltd, a specialist in treating and reversing critical cardiac-related ailments, is all set to enter the next phase of growth through both organic and inorganic routes.
Addressing the shareholders at the 23rd Annual General Meeting of the company and the first after listing of its shares on NSE in February 2022, Dr Rohit Sane, Founder, Managing Director and CEO of Madhavbaug, explained in detail the company’s strategy to promote Ayurveda among the masses through aggressive use of technology and collaboration with insurance companies and financial institutions to fund patients treatment expenses. The aim is to increase the reach of Ayurveda to every nook and corner of India and make Ayurveda treatment affordable to many people in India.
Madhavbaug has already inked an agreement with India’s leading insurer SBI General Insurance Company Ltd, to provide policyholders direct cashless treatment facility at Madhavbaug’s hospitals. Additionally, the company is in various stages of negotiation with other insurers to extend similar cashless treatment facilities for their patrons.
“We are working towards getting empanelled with various insurance companies to provide access to Madhavbaug’s comprehensive set of Ayurvedic treatments and wellness therapies to its policyholders and other stakeholders. We are also trying to tie up with corporates to provide our state-of-the-art healthcare services to their employees. To make our treatment universal and affordable to even the poorest needful section of society, we collaborate with various financial institutions to fund the treatment cost.
Under this plan, patients will have the flexibility to repay the principal amount through EMI. In contrast, Madhavbaug will bear the interest component,” said Dr Rohit Sane.
By the end of 2025, Madhavbaug has envisaged enrolling 2 Lakhs patients per annum and increasing the total number of health care centres to 600 compared to 80-90k patients per annum with 270 care centres currently.
In FY 22, Madhavbaug reported a 785 per cent growth in its profit after tax (PAT) at Rs 3.46 crore compared to Rs 39.2 lakhs in FY21. During the same period, the company’s gross revenue increased from Rs 52.37 to Rs 75.04 crore.
Dr Sane also highlighted inorganic growth as part of the company’s key strategy for the future. “Madhavbaug has identified current market scenarios, and business requirement necessitates inorganic growth for the company. Acquisitions of stake in companies with widespread distribution channels; call centres, food and medicine manufacturers etc., can be considered key to such growth,” he added.
Ayurveda is witnessing a resurgence in India as people are approaching ancient healthcare science as a way of life as opposed to the earlier notion of Ayurveda as an alternative area of medicine.
About us: With more than a decade of experience in preventive cardiology, Madhavbaug has a strong track record of patients who have obtained relief from life-threatening diseases with Madhavbaug’s treatments. Founded in 2006 with a vision to reduce mortality and morbidity due to heart disease and lifestyle disorders, Madhavbaug has established a strong foothold in non-invasive cardiac care with 274 clinics and two hospitals.
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Vijay Singh
