InvAscent invests Rs 110 crore in Geri Care to pick up minority stake

Private equity investor InvAscent, through its India Life Sciences Fund IV (ILSF IV), has invested Rs 110 crore for a minority stake in Geri Care Health Services, an integrated senior citizen-focused healthcare services provider.

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Founded in 2018 by renowned geriatrician, Dr Lakshmipathy Ramesh, Geri Care offers a 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.

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.

“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,” said Dr Lakshmipathy Ramesh, Founder and Managing Director of Geri Care Health Services.

The InvAscent team has a deep understanding of the healthcare space which will make it valuable partners in this growth journey.

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