TBM Staff - Mumbai
Online travel aggregator EaseMyTrip has acquired a 30% stake in Rollins International and a 49% stake in Pflege Home Healthcare, marking its entry into the medical tourism market. The acquisitions, valued at INR 60 crore and INR 30 crore respectively, were approved by the company’s board and will be settled through an equity swap.
According to the filings from the National Stock Exchange, EaseMyTrip will issue its shares to pay the INR 90 crore total consideration. The company sees the acquisition as a strategic move into medical tourism, aiming to expand its travel services by integrating wellness and healthcare into its offerings.
Pflege Home Healthcare, based in the UAE, facilitates international medical treatments through partnerships with top medical institutions and luxury hotels. Rollins International, a subsidiary of Singapore’s RHA Holding, focuses on wellness products, gluten-free foods, health supplements, and therapies.
EaseMyTrip, led by Nishant Pitti, recently approved the manufacturing of electric buses and continues to grow through acquisitions. Despite expanding its portfolio, the company saw a 6.8% decrease in revenue to INR 152.6 crore in Q1 FY24, while profits dropped 13% to INR 33.92 crore.
