To cater to the increasing ageing population in the country, home healthcare services provider HCAH has acquired RPG Group-owned Seniority, touted to be India’s largest geriatric-centric digital platform, for an undisclosed sum.

“We, as a country, are becoming older,” Vivek Srivastava, HCAH Co-Founder and Chief Executive, told businessline, adding that more people in the 60-plus age group are looking to be less dependent on their children, even as they have more money, more needs, and are becoming more savvy with technology, as well.

India is estimated to have over 150 million senior citizens aged 70 on average. By 2025, 12 per cent of the population in India will be over 60 years.

Health-tech company HCAH, earlier known as Healthcare at home, operates in the out-of-hospital healthcare segment and has raised investments from the Burman family (promoters of Dabur), founders of Healthcare at Home UK, Singapore-based healthcare fund Quadria Capital, and ABC Impact.

The company aims to become a “one-stop shop for the elderly,” Srivastava said. “Currently, 60 per cent of our customers are elderly to whom we provide rehab, ICU and nursing, caregiver, consultation, lab and equipment services at home, digitally and in our transition care centres. As part of our phygital (physical and digital) strategy, we would open new Seniority stores on a standalone basis as well as in our transition care centres. We will launch new services such as assisted living, elderly day-care and elderly concierge services in the future to further solidify our presence in the elderly market”

Seniority offers a portfolio of over 20,000 products ranging from medical to lifestyle for senior citizens and sells directly to customers, as well. The company has two offline stores in Pune and Chennai.

HCAH, which has made two other acquisitions in the past, expects to end this financial year with revenues of ₹150 crore, and targets ₹500 crore by 2026.

Related Topics
comment COMMENT NOW