Geri Care Health Services, India’s first integrated geriatric care provider dedicated to senior citizens, announced on Monday that InvAscent, a private equity firm specializing in healthcare and life sciences, has invested ₹110 crore through its India Life Sciences Fund IV (ILSF IV) for a minority stake. This investment marks Geri Care’s first institutional funding round.
Founded in 2018 by renowned geriatrician Dr. Lakshmipathy Ramesh, Geri Care delivers a holistic 360-degree care model tailored for senior citizens. Its offerings include multi-speciality hospitals, assisted living centres, home care services, and exclusive senior citizen clinics. With over 50 years of combined expertise in geriatric care, Geri Care has established itself as a trusted leader in eldercare, serving tens of thousands of seniors across South India, especially in Chennai.
Geri Care plans to use the funds to broaden its services across major cities in southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore. This quarter, the company aims to open new assisted living facilities in Ulsoor, Bengaluru, and Velachery, Chennai. Additionally, it is developing specialized centres of excellence in geriatric oncology, urology, cardiology, and ortho-geriatrics as part of its network of multi-speciality hospitals dedicated exclusively to elderly care.
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 needing specialized healthcare.”
Nithya Govind, managing director of InvAscent, said, “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 acted as the sole financial advisor to Geri Care for this transaction.