InvAscent invests ₹110 crore in Geri Care

Geri Care Health Services, India’s first integrated senior citizen-focused healthcare services provider, has announced a ₹110 crore investment from private equity firm InvAscent through its India Life Sciences Fund IV (ILSF IV). This marks Geri Care’s first institutional fundraise, with InvAscent acquiring a minority stake in the company.

Founded in 2018 by geriatrician Dr Lakshmipathy Ramesh, Geri Care offers a comprehensive continuum care model tailored for senior citizens. The company operates multi-speciality hospitals, assisted living centres, home care, and clinics exclusively for elderly patients. With over 50 years of combined expertise in geriatric practice, Geri Care has built a reputation for eldercare in South India, primarily in Chennai.

The funds will be utilised to expand Geri Care’s services into cities such as Bengaluru, Hyderabad, Kochi, and Coimbatore. The company plans to open new assisted living facilities in Ulsoor, Bengaluru, and Velachery, Chennai, by the end of this quarter. Additionally, Geri Care is establishing speciality centres of excellence focused on Geriatric Oncology, Geriatric Urology, Geriatric Cardiology, and Ortho-Geriatrics through its hospital network.

Dr Lakshmipathy 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, 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 of providing holistic and compassionate care to the elderly. The InvAscent team with their deep understanding of the healthcare space, will be valuable partners in this growth journey. Their investment and partnership will enable us to expand our services and reach more seniors in need of specialised healthcare.”

Nithya Govind, Managing Director of InvAscent, commented, “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.”

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