EaseMyTrip Sets Sight On Medical Tourism With Rs 90-Crore Acquisitions
EaseMyTrip will acquire 49% stake in the Dubai-based Pflege Home Healthcare, and 30% stake in Rollins International, an allergen-free food products seller.
Easy Trip Planners Ltd., the owner of online travel agency EaseMyTrip, on Tuesday said it will acquire 49% stake in Pflege Home Healthcare Center LLC and 30% stake in Rollins International Pvt.
The proposed acquisition will allow the company to mark its expansion in the rapidly growing medical tourism sector, a release said.
The stake in Pflege Home, which is a Dubai-based home healthcare services provider, will be acquired for Rs 30 crore. This will include a purchase of shares worth Rs 20 crore from the selling shareholders, and subscription of new shares worth Rs 10 crore on an equity share swap basis, EaseMyTrip said.
The stake in Rollins International will be acquired for Rs 60 crore via equity share swap, it said. The acquisition assumes significance as Rollins International is a key seller of gluten-free, lactose-free, and allergen-free food products in the Indian market, the release said.
"EaseMyTrip’s portfolio has grown manifold with the inclusion of Rollins International and Pflege Home Healthcare. It is a pivotal progression for us towards revolutionising medical tourism. With the growing demand for accessible, quality healthcare services, this acquisition was necessary to meet the evolving needs of travellers seeking wellness and medical solutions," the company's Chief Executive Officer Nishant Pittie said.
Pflege Home Co-Founder Parveen Jakhar said the collaboration with EaseMyTrip allows the company to extend the accessibility of its premium healthcare services. "By integrating our medical tourism and home healthcare expertise with their global travel platform, we aim to provide a seamless experience for individuals seeking medical treatment or wellness services abroad."
Currently, the medical tourism industry is valued at $7.69 billion and is expected to reach $14.31 billion by 2029, the release said. By combining travel and healthcare services, EaseMyTrip will create a unique value proposition for both domestic and international clients, it said.
Shares of EaseMyTrip edged lower after the board nod for the proposed acquisitions was announced. The scrip was trading 0.7% lower at Rs 41.9 per share on the NSE at 2:24 p.m., whereas the benchmark Nifty 50 was up 0.17%.
