With the funding, Athulya intends to expand its services across south India to reach over 2500 beds and serve over 50,000 seniors in the next two years
Athulya has raised Rs 77 crore (US$ 9.3MM) funding from North Haven India Infrastructure Partners, a fund managed by Morgan Stanley India Infrastructure, for its forthcoming expansion.
Founded in 2016, Athulya offers assisted living, transition care and home healthcare to address the needs of dependent seniors over the age of 60, and will soon launch palliative care services.
With the funding, Athulya intends to expand its services across south India to reach over 2500 beds and serve over 50,000 seniors in the next two years. Athulya seeks to create a “continuum of care” by offering services ranging from short-term to long-term care at “your home or our home”
Speaking on the new investment, Dr Karthik Narayan, Founder & Managing Director, Athulya Senior Care said: “This strategic partnership with Morgan Stanley is a crucial step for Athulya towards raising the bar on high-quality, accessible care for the elderly. This investment will support our expansion and help us establish new facilities in multiple cities.”
Srinivasan G, Founder & CEO, Athulya Senior Care said, “India’s need for assisted living, rehabilitation and palliative care solutions is unquestionable. Right from inception, Athulya has been working on an asset-light model to deliver compassionate care. This investment will help Athulya to focus on talent acquisition, infrastructure development and skill training, thereby creating direct and indirect employment opportunities for around 2000 people across the country.”
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