Geri Care Health Services, India’s first integrated senior citizen-focused healthcare services provider announced that healthcare and life sciences focused private equity investor InvAscent, through its India Life Sciences Fund IV (ILSF IV), has infused INR 110 crore for a minority stake in the company in its first institutional fundraise.
Founded in 2018 by renowned geriatrician, Dr. Lakshmipathy Ramesh, Geri Care offers a comprehensive 360-degree continuum care model for senior citizens, with a network of multi-speciality hospitals, assisted living centres, home care, and clinics, exclusively for senior citizens. As pioneers of integrated geriatric care and leaders in the space with over 50 years of combined geriatric practice expertise, Geri Care is a trusted name in eldercare, serving tens of thousands of elders in South India, particularly in Chennai.
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Geri Care intends to utilise the funds to expand its services across key cities in Southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore. The Company is gearing up to launch its newest assisted living facilities this quarter in Ulsoor in Bengaluru, and Velachery in Chennai. The company is also building first of its kind speciality centres of excellence in Geriatric Oncology, Geriatric Urology, Geriatric Cardiology and Ortho-Geriatrics through its chain of multi-speciality hospitals exclusively for elders.
Dr. Lakshmipathy Ramesh, Founder & Managing Director of Geri Care Health Services said, “At Geri Care, we strive to make best-in-class Geriatric Care accessible to our senior community and their families, and to enhance the quality of their life, promote independence, well-being and dignity. We are excited to partner with InvAscent to further our mission of providing holistic and compassionate care to the elderly. The InvAscent team with their deep understanding of the healthcare space, will be valuable partners in this growth journey. Their investment and partnership will enable us to expand our services and reach more seniors in need of specialised healthcare.”
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Nithya Govind, Managing Director, InvAscent said, “Geri Care is a pioneer in creating an innovative continuum care model, redefining eldercare in India. We are very excited to partner with Dr. Ramesh and the team of Geri Care in their growth journey. Our investment aims to support Geri Care’s expansion plans and enhance its capabilities to address the growing needs of the elderly population in India.”
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Source – prnewswire
