EaseMyTrip's approves acquisition of 30% stake in Rollins International for INR 60 Cr and 49% stake in Pflege Home Healthcare for INR 30 Cr
The investments, to be made through equity share swaps, mark EaseMyTrip's entry into the medical tourism sector
This move aligns with EaseMyTrip's strategy to diversify its offerings and tap into India's medical tourism market, projected to reach $50.67 Bn by 2034
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As part of its efforts to offer holistic travel solutions by integrating wellness and healthcare services into its service portfolio as medical tourism, online travel aggregator EaseMyTrip’s parent entity Easy Trip Planners said that its board has approved acquisition of two companies worth INR 90 Cr.
EaseMyTrip will pick up a 30% stake in Rollins International Private Limited for INR 60 Cr ($7.15 Mn) and a 49% stake in Pflege Home Healthcare Center LLC for INR 30 Cr ($ 3.5 Mn).
For Rollins International, the company said it will pay the subscription amount by equity share swap, which means it will issue its own fully paid-up equity shares on a preferential basis.
For Pflege Home Healthcare Center, the company said it has purchased certain shares from the selling shareholders for INR 20 Cr and has subscribed to new shares for an aggregate subscription of INR 10 Cr on an equity share swap basis.
Nishant Pitti, CEO and cofounder of EaseMyTrip, said, “EaseMyTrip’s portfolio has grown manifold with the inclusion of Rollins International and Pflege Home Healthcare.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.”
Founded in 2008, by three siblings Nishanth, Rikant and Prashanth Pitti, the company went public in March 2021. Since then, it has been actively expanding its range of travel-related services to cater to evolving customer needs.
In 2024, the company further diversified its offerings from its marquee of acquisitions in 2023. It announced plans to enter the hospitality sector by setting up a five-star hotel in Ayodhya with an investment of INR 100 Cr in February 2024. This was followed by the incorporation of Easy Green Mobility, to manufacture electric buses, with plans to invest INR 200 Cr over 2-3 years.
It has also been active in the digital space. In March it expanded its B2B capabilities by investing INR 33 Cr to acquire a 4.94% stake in E-Trav Tech Limited, a move aimed at enhancing its offerings for corporate clients.
Further, this month, the company joined the government backed Open Network for Digital Commerce (ONDC) and launched ScanMyTrip, a marketplace for travel services on the network.
EaseMyTrip reported a 31% year-on-year increase in its net profit to INR 33.9 Cr in Q1 FY25, up from INR 25.9 Cr in Q1 FY24. The company’s operating revenue increased 23% to INR 152.6 Cr during the quarter under review, up from INR 124 Cr in the year-ago quarter.
The move into medical tourism comes as the sector experiences significant growth. According to Future Market Insights, the Indian medical tourism market is currently valued at $10.36 Bn in 2024 and is projected to reach $50.67 Bn by 2034, growing at a CAGR of 17.20% from 2024 to 2034.
EaseMyTrip’s foray into medical tourism is part of a larger strategy to offer comprehensive travel solutions. The proposed investments in Rollins International and Pflege Home Healthcare are subject to customary conditions, shareholder approval, and regulatory clearances.
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