The -based Integrated senior care provider Athulya Senior Care is in advanced discussions with private equity investors to raise about $30 million by the end of FY27 to accelerate the expansion of its assisted living and geriatric healthcare business, its founders said.
The proposed fund raise will support the company’s plan to expand its assisted living capacity from 1,500 beds to 3,500 beds over the next four to five years and establish a network of dedicated geriatric hospitals across South India, Karthik Narayan, Founder and Managing Director, Athulya Senior Care, told businessline on the sidelines of the inauguration of Athulya Geriatric Care Hospital by Tamil Nadu Governor Rajendra Vishwanath Arlekar in Chennai on Sunday.
“We expect to close the fund raise by FY27,” Narayan said. The fresh capital will build on the ₹130 crore the company has already raised, including ₹100 crore from Morgan Stanley and the remainder from angel investors. Narayan said the company is looking to induct new investors as it scales up operations, while an initial public offering could be considered in about four years.
Founded a decade ago, Athulya began as a home healthcare provider before expanding into assisted living. It now operates 12 assisted living centres with around 1,500 beds across Chennai, Bengaluru, Hyderabad, Coimbatore and Kochi, making it India’s largest assisted living provider by bed capacity.
The company has served over 45,000 residents, providing rooms on a rental basis, said G Srinivasan, Founder and CEO, Atulya Senior Care.
To strengthen its integrated elder-care model, the company on Sunday inaugurated its first exclusive Athulya Geriatric Care Hospital in Chennai.
The hospital completes what the company describes as a 360-degree elder-care ecosystem, integrating home healthcare, assisted living and specialised hospital care under one platform, he said.
“We have built the senior care ecosystem over the last ten years. Earlier, whenever our residents required acute medical care, we had to depend on partner hospitals. With our own geriatric hospital, we have now closed the final loop in the continuum of care,” Srinivasan said.
Unlike multi-speciality hospitals where geriatrics is one among several departments, Athulya’s new facility is exclusively dedicated to senior citizens aged 55 years and above.
The hospital offers outpatient and inpatient services, emergency care, dialysis, chemotherapy, rehabilitation and minor procedures, with care delivered by doctors and healthcare professionals trained specifically in geriatric medicine, he said.
The hospital houses over 20 doctors across over 10 specialties, including dedicated centres for geriatric intensive care, orthopaedics and rehabilitation, neurology, urology, psychiatry and general surgery. The integrated model focuses on chronic disease management, multi-morbidity, rehabilitation and long-term recovery for elderly patients, said Srinivasan.
According to the Narayan, India’s ageing population presents a significant opportunity. The country currently has only about 20,000 senior care beds against an estimated requirement of 4 lakh beds, a gap expected to widen sharply over the coming years. Tamil Nadu alone has around 10 million people aged above 55 years, underscoring the need for specialised geriatric infrastructure, he said.
Looking ahead, Athulya plans to establish 10 geriatric hospitals with around 500 hospital beds across South India while simultaneously expanding its assisted living business. It is also evaluating expansion into Pune and Ahmedabad and has already made its international debut with a 100-bed assisted living facility in Mauritius, he said.