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Eldercare Services Provider Geri Care Secures Rs 110 Cr from InvAscent

Geri Care Health Services, a healthcare provider for senior citizens, has raised Rs 110 crore in its first institutional funding round from InvAscent, a private equity firm.

By Jitendra Das
New Update
Eldercare Services Provider Geri Care Secures Rs 110 Cr from InvAscent

Geri Care Health Services, a healthcare provider for senior citizens, has raised Rs 110 crore in its first institutional funding round from InvAscent, a private equity firm that invests in healthcare and life sciences. 

The investment, made through InvAscent's India Life Sciences Fund IV (ILSF IV), gives the firm a minority stake in the company.

Veda Corporate Advisors served as the exclusive financial advisor to Geri Care for this deal.

The startup will use the funds to expand into major cities in Southern India, such as Bengaluru, Hyderabad, Kochi and Coimbatore. This quarter, the company plans to open new assisted living facilities in Ulsoor, Bengaluru and Velachery, Chennai.

Geri Care is also developing unique specialty centers in geriatric oncology, geriatric urology, geriatric cardiology and ortho-geriatrics within its network of multi-specialty hospitals for senior citizens.

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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 specialised healthcare."

“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, Managing Director of InvAscent. 

About Geri Care 

Chennai-based Geri Care was founded in 2018 by geriatrician Dr Lakshmipathy Ramesh, it offers a complete care model for senior citizens, including multi-specialty hospitals, assisted living centers, home care services and clinics.

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