Highlights
Geri Care Health Services Secures ₹110 Crore in Funding
Geri Care Health Services, a provider dedicated to senior citizen healthcare, has successfully raised ₹110 crore ($13 million) in a funding round led by InvAscent, leveraging its India Life Sciences Fund IV (ILSF IV) for a minority equity stake in the company during its inaugural institutional funding round.
The newly acquired capital will be directed towards expanding services across major cities in Southern India, specifically in Bengaluru, Hyderabad, Kochi, and Coimbatore, as detailed in a press release issued by Geri Care.
About Geri Care Health Services
Established in 2018 by Lakshmipathy Ramesh, Geri Care provides a holistic 360-degree continuum of care focused on senior citizens. Its network includes:
- Multi-specialty hospitals
- Assisted living centres
- Home care services
- Clinics dedicated solely to senior citizens
Geri Care offers a wide array of services, including:
- Personalised home care
- Advanced clinical interventions
- Hospital-based services
- Assisted living services for:
- Respite care
- Rehabilitation care
- Dementia care
- Palliative care
This seamless approach ensures comprehensive 360-degree care for the elderly population.
Innovative Geriatric Specialties
The Chennai-based company plans to introduce specialty centres of excellence in various fields, notably:
- Geriatric oncology
- Geriatric urology
- Geriatric cardiology
- Ortho-geriatrics
This initiative will be part of its network of multi-specialty hospitals specifically designed for the elderly.
Impact and Reach
According to Geri Care, the organisation currently serves tens of thousands of elderly individuals in South India, with a significant presence in Chennai.
About InvAscent
InvAscent is a private equity firm focusing on life sciences, managing assets under management (AUM) exceeding $800 million. The firm has investments in more than 35 companies across various sectors, including:
- Pharmaceuticals
- Healthcare delivery
- Medical devices
- Animal health
- Nutraceuticals
- Healthtech