Geri Care Health Services, a senior citizen-focused healthcare provider, has successfully raised Rs 110 crore ($13 million) in its first institutional funding round, led by InvAscent through its India Life Sciences Fund IV (ILSF IV). This investment marks a significant milestone for the company, providing it with the capital to accelerate its expansion plans across key cities in Southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore.
Founded in 2018 by Lakshmipathy Ramesh, Geri Care offers a comprehensive 360-degree continuum of care tailored for senior citizens. The company operates a network of multi-specialty hospitals, assisted living centers, home care services, and clinics exclusively for the elderly. Their approach to elderly care spans from personalized home assistance to advanced clinical interventions, with hospital-based services covering areas like respite care, rehabilitation, dementia, and palliative care.
One of the unique aspects of Geri Care is its focus on specialized services for senior citizens, such as geriatric oncology, geriatric urology, geriatric cardiology, and ortho-geriatrics. Through its chain of multi-specialty hospitals, the company is set to introduce centers of excellence dedicated to these geriatric specialties, offering much-needed care for aging populations.
Based in Chennai, Geri Care has already made significant inroads in serving tens of thousands of elders, particularly in South India. With the new funding, the company aims to further extend its reach and improve the quality of life for elderly individuals in the region.
InvAscent, the private equity firm leading this funding round, has a robust portfolio of investments in the life sciences sector, including pharma, healthcare delivery, medical devices, and healthtech. Managing an AUM of over $800 million, InvAscent’s backing of Geri Care underscores the growing demand for specialized healthcare services for the elderly, as the senior population continues to rise across India.
The funds will enable Geri Care to broaden its network of specialized services, enhance its infrastructure, and continue innovating in the field of geriatric care. This strategic investment not only bolsters the company’s ability to serve the elderly but also reinforces the importance of elder-centric healthcare solutions in today’s rapidly aging society.
