Senior citizen-focused healthcare services provider Geri Care Health Services has raised ₹110 crore in private equity money from healthcare and life sciences-focused PE investor InvAscent in return for a minority stake. This is Geri Care’s first institutional fundraise and it comes through InvAscent’s India Life Sciences Fund IV (ILSF IV).

Founded in 2018 by geriatrician, Dr. Lakshmipathy Ramesh, Chennai-based Geri Care offers continuum care model for senior citizens with a network of multi-speciality hospitals, assisted living centres, home care, and clinics, exclusively for this population segment.

Geri Care intends to utilise the funds to expand its services across key cities in Southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore. The company is also looking to launch its newest assisted living facilities this quarter in Ulsoor in Bengaluru, and Velachery in Chennai. It 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.

“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,” Dr. Lakshmipathy Ramesh, Founder & Managing Director of Geri Care Health Services said.

Nithya Govind, Managing Director, InvAscent said, “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 this transaction.

Published on January 27, 2025