Medical tourism foray will drive non-air business: EaseMyTrip – Brand Wagon News

EaseMyTrip expects its recent entry into the medical tourism sector to significantly boost its diversification efforts in the non-air business space. “We are focused on expanding our non-air business segment and sustaining profitable growth. The medical tourism industry is growing at a rapid pace, and this was the right time to make our move and establish a presence in this flourishing sector,” said Nishant Pitti, CEO and co-founder of EaseMyTrip, told FE.

The travel tech unicorn recently acquired a 30% stake in Rollins International and a 49% stake in Pflege Home Healthcare.

Over the past few years, EaseMyTrip has been intensifying its focus on growing its non-air business vertical. In Q4FY24, hotel bookings on its platform surged by nearly 39%, while other non-air segments—including holiday packages, activities, and train bookings—witnessed a 53% increase. “We are constantly seeking opportunities that align with our future growth plans,” Pitti noted.

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In line with its diversification strategy, EaseMyTrip has made several acquisitions in recent years, including Guideline Travels Holidays, Dook Travels and Tripshope Travel Technologies. In January 2024, the company also entered the insurance sector with the launch of EaseMyTrip Insurance Broker, aiming to address the synergy between online ticket bookings and online insurance purchases.

Regarding the startup’s vision for its medical tourism portfolio, Pitti said it is progressive and aligned with future growth plans. “We will continue exploring relevant business opportunities that align with our vision,” he added. According to IBEF, India’s medical tourism market is valued at $7.69 billion and is projected to reach $14.31 billion by 2029. “We are keen to be a part of this booming market and extend our efforts to make medical tourism accessible to both domestic and international travelers ,” Pitti said.

With its latest acquisitions, the healthcare segment will become an integral part of EaseMyTrip’s non-air service portfolio. The company has invested a total of `90 crore in these acquisitions—`30 crore in Pflege Home Healthcare and Rs 60 crore in Rollins International—through an equity swap by issuing EaseMyTrip’s shares. Dubai-based Pflege will enable EaseMyTrip to offer a range of home-based medical services, such as doctor consultations, nursing care, physiotherapy, and critical medical equipment for medical tourists. Rollins International, operating in cities like New Delhi, Mumbai, Bengaluru and Hyderabad, will provide expertise in allergen-free food products, health supplements, and modern wellness therapies.

Pitti said that EaseMyTrip has been profitable since its inception and is now looking to associate with or acquire companies with a similar growth trajectory. “They should have the drive to grow and the potential to launch their IPO within the next 4-5 years,” he explained. In Q3FY24, EaseMyTrip reported an operating revenue of `164 crore, a marginal increase from `160.7 crore in the previous quarter.

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