Morgan Stanley fund eyes geriatric care firm Athulya

NEW DELHI : A Morgan Stanley fund is main the race to put money into Chennai-based geriatric care firm Athulya Assisted Living Pvt. Ltd, two individuals conscious of the talks mentioned.

North Haven India Infrastructure Fund, managed by Morgan Stanley Investment Management Inc., might make investments 100 crore ($12 million) in Athulya for 20-25% stake, the individuals cited above mentioned on the situation of anonymity. This is the primary time the startup is elevating institutional funding. The firm, which operates below the Athulya Senior Care model, gives assisted dwelling and residential healthcare providers in geriatrics section.

In September 2021, The Hindu reported that the corporate is in talks with enterprise capital companies to lift $10 million. The capital was to be deployed primarily for creating services and for increasing providers within the southern states.

Email queries despatched to Athulya and the Morgan Stanley fund remained unanswered until press time. The firm was based in July 2014 as Healthabove60, providing solely house healthcare providers. It was renamed Athulya Assisted Living after including senior dwelling rental mannequin in 2017.

The startup claims it is likely one of the largest assisted dwelling services in India with 500 beds. It gives providers resembling assisted dwelling in senior dwelling communities and senior dwelling rental mannequin, in addition to geriatric house healthcare providers amongst others. It has 4 services in Chennai and one in Bengaluru, which is the biggest with round 150 beds.

The startup claims to have served over 15,000 seniors since inception, providing nursing care, physician visits, physiotherapy, rehabilitation, blood pattern assortment, ICU setup at house, and bringing the whole gamut of healthcare providers to the doorstep.

North Haven India Infrastructure Fund, which focuses on asset-light infrastructure property, invests in sectors resembling vitality, utilities, mobility, logistics, social infrastructure and healthcare. Some of the fund’s earlier bets embody pallet pooling firm Leap India, waste administration and recycling startup Recykal, and iBus Network and Infrastructure.

Last month, VCCircle reported that the investor, together with Denmark’s Investment Fund for Developing Countries (IFU), have emerged as front-runners to put money into natural meals exporter Suminter India Organics Pvt. Ltd.

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