Mumbai, June 19 (PTI) Leading ayurveda spa operator Kerala Vaidyashala has said it sold its entire stake in Birla Kerala Vaidyashala to its partner, Birla Wellness, as part of a strategy to to exit the day spa segment that it pioneered in the country.
Kerala Vaidyashala, which formed a partnership with Yash Birla group-promoted Birla Wellness in December, 2008, has also decided to invest around Rs 50 crore in health tourism and the stay spa segment while completely exiting the day spa segment, company promoter Harshajeet Kuroop said.
The JV, in which Kerala Vaidyashala had a 49 per cent stake and the Birlas the rest, has been operating 32 day spas in major cities, including 11 in Mumbai. While most of the spas are standalone, it runs one at the Collate Apollo Hospital.