Senior Citizen-Focused Geri Care Health Secures USD 13 Mn Funding from InvAscent With the raised funds, the chennai-based startup aims to expand Geri Care's services across key cities in Southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore.
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Chennai-based Geri Care Health Services, a pioneering senior citizen-focused healthcare provider, has secured INR 110 crore (USD 13 million) in its first institutional funding round led by InvAscent. The investment, made through InvAscent's India Life Sciences Fund IV (ILSF IV), grants the firm a minority stake in Geri Care.
The newly raised funds will be deployed to expand Geri Care's services across key cities in Southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore.
Founded in 2018 by Dr Lakshmipathy Ramesh, Geri Care has established itself as a comprehensive 360-degree healthcare provider for senior citizens. Its network includes multi-specialty hospitals, assisted living centers, home care services, and clinics exclusively catering to the elderly.
Offering a seamless continuum of care, Geri Care's services range from personalised home care and advanced clinical interventions to hospital-based services and assisted living solutions. The company specialises in respite care, rehabilitation care, dementia care, and palliative care.
Dr Ramesh, Founder and 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 to enhance the quality of their life and 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. Their investment and partnership will enable us to expand our services and reach more seniors in need of specialized healthcare."
As part of its growth strategy, Geri Care is developing first-of-its-kind specialty centers of excellence in geriatric oncology, geriatric urology, geriatric cardiology, and ortho-geriatrics within its multi-specialty hospital chain.
Nithya Govind, Managing Director of InvAscent, stated, "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."
Currently serving tens of thousands of elders in South India, particularly in Chennai, Geri Care aims to set new benchmarks in eldercare.
InvAscent, a life sciences private equity firm managing over USD 800 million in assets, brings extensive experience with investments across the healthcare sector, making this partnership a promising step toward enhanced senior care services in India.
