Geri Care Health Services Expands With Rs 110 Crore Investment

Geri Care Health Services secured Rs 110 crore from InvAscent to expand its senior-focused healthcare services in South India. The investment will enable the launch of new facilities and the development of specialized centers for geriatric medicine, strengthening the company's commitment to elderly care.

Geri Care Health Services has announced securing Rs 110 crore in funding from private equity investor InvAscent. This investment, through InvAscent's India Life Sciences Fund IV, grants them a minority stake in the company, paving the way for significant growth and service expansion.

This funding will be pivotal for Geri Care as it advances plans to broaden its footprint across major South Indian cities including Bengaluru, Hyderabad, Kochi, and Coimbatore. As part of its expansion strategy, the company aims to introduce new assisted living facilities in Bengaluru and Chennai this quarter.

Additionally, Geri Care is enhancing its specialization in geriatric medical care by establishing centers of excellence in fields such as Geriatric Oncology and Cardiology, thereby reinforcing its commitment to exclusively serving the elderly population. The partnership with InvAscent is set to propel the mission of delivering comprehensive care to seniors, according to Founder and Managing Director Lakshmipathy Ramesh.

(With inputs from agencies.)