Geri Care intends to utilise the funds to expand its services across key cities in Southern India, including Bengaluru, Hyderabad, Kochi and Coimbatore
Healthcare and life sciences-focused private equity investor, InvAscent, through India Life Sciences Fund IV (ILSF IV), has invested Rs 1,100 million in Geri Care Health Services, India’s first integrated senior citizen-focused healthcare services provider.
Founded in 2018 by a leading geriatrician, Dr Lakshmipathy Ramesh, Geri Care offers a comprehensive 360-degree continuum care model for senior citizens, with a network of speciality hospitals, assisted living centres, home care, and clinics.
With over 50 years of combined geriatric practice expertise, Geri Care has become a trusted name in eldercare, serving tens of thousands of elders in South India, particularly in Chennai.
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 in Ulsoor, Bengaluru, and Velachery, Chennai, soon.
“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”, said Nithya Govind, MD, InvAscent.
“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. This investment and partnership will enable us to expand our services and reach more seniors in need of specialized healthcare”, said Dr Lakshmipathy Ramesh, Founder and MD, Geri Care.
Veda Corporate Advisors served as the exclusive financial advisor to Geri Care for this transaction.
