Geri Care Raises Rs 110 cr from InvAscent for Senior Care Expansion

Mumbai, Jan 27 (PTI) Integrated senior citizen-focused healthcare provider Geri Care Health Services on Monday said it has raised Rs 110 crore funds from private equity investor InvAscent.

The funds were infused through InvAscent's India Life Sciences Fund IV (ILSF IV) for a minority stake in the company.

Geri Care intends to utilise the funds to expand its services across key cities in South India - Bengaluru, Hyderabad, Kochi, and Coimbatore, the company said in a statement.

The company is gearing up to launch its newest assisted living facilities this quarter in Ulsoor in Bengaluru, and Velachery in Chennai.

Geri Care is also building speciality centres of excellence in Geriatric Oncology, Geriatric Urology, Geriatric Cardiology and Ortho-Geriatrics through its chain of multi-speciality hospitals exclusively for elders.

"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 Health Services Founder and Managing Director Lakshmipathy Ramesh said.