Online travel agency continues diversification
In a regulatory filing earlier this week, the company said that it had talen a 30 pc stake in Rollins International
As part of its expansion plans into a diverse array of fields since its listing on stock exchanges in 2021, Online Travel Agency EaseMyTrip has acquired stakes in two healthcare companies, setting foot into medical tourism industry.
The recent announcement by Online Travel Agency EaseMyTrip about its acquisitions in two healthcare-related companies marks a significant diversification as it forays into the domain of medical and wellness tourism.
In a regulatory filing earlier this week, the company said that it had taken a 30 pc stake in Rollins International, a subsidiary of the Singapore-based RHA Holdings for INR 600 million and a 49 pc stake in Pflege Home Healthcare for INR 300 million.
Rollins International has a diversified portfolio in wellness, healthcare and consumer products. The company also operates several wellness centres across major cities in India, including New Delhi, Mumbai, Bengaluru and more.
Pflege Home Healthcare is a Dubai-based company offering comprehensive care services across a wide range of segments, from doctor visits, registered nursing care at home and physiotherapy to home-based medical equipment like ventilators and oxygen.
EaseMyTrip says that through its stake in Pflege, it aims to create opportunities for those looking for accessible healthcare, in Dubai. While the patient-centric approach of Rollins International will be integrated into EaseMyTrip’s offerings for customers seeking medical treatments abroad.
The company says that its board approved the twin deal worth INR 900 million to venture into the medical tourism industry and that the acquisitions have come at a time when medical tourism industry is experiencing an accelerated growth in India and globally.
Recent deals of EaseMyTrip
EaseMyTrip has been aggressively venturing into new avenues and diversifying its income streams since its listing on stock exchanges in March 2021. In January 2024, EaseMyTrip ventured into the insurance sector by setting up a subsidiary, EaseMyTrip Insurance Broker.
In February, it invested INR 1 billion to set up a luxury five-star hotel in Ayodhya with Jeewani Hospitality, setting foot in the hospitality business.
The company has also entered the electric bus manufacturing sector through its new subsidiary Easy Green Mobility, partnering with another subsidiary, YoloBus, which EaseMyTrip acquired in 2021 and which runs a fleet of buses for inter-city travel in India, serving as it’s operating arm.
The travel platform has also been expanding in the digital space. EaseMyTrip joined the government backed Open Network for Digital Commerce (ONDC) and launched an online marketspace, namely, ScanMyTrip, for travel services on the network.
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