CPC, KITES plan merger to expand footprint in senior living & geriatric care


NEW DELHI: Columbia Pacific Communities (CPC), a number one participant in senior living, and KITES Senior Care, a geriatric care service supplier, are set to merge to expand their footprint throughout the nation to 10,000 items in senior living, and a pair of,000 beds in ‘out of hospital’ geriatric care facilities in 5 years.
KITES Senior Care has a main investor, Dr Ranjan Pai who invested about Rs 60 crore by his household workplace in two earlier funding rounds, and can maintain 35% stake in the merged entity.As a part of the settlement, CPC, a part of the US-based Columbia Pacific Group, will make investments about Rs 65 crore to choose up a 25% stake in the merged entity.
The firm publish merger is valued round Rs 250 crore.
The merger combines CPC’s expertise in senior living with KITES’s medical experience, creating India’s first and largest Continuing Care Retirement Community (CCRC), Dr Ranjan Pai, chairman Manipal Education and Medical Group (MEMG) advised TOI.
The monetary infusion will gas KITES’s growth into six cities throughout southern India, aiming to develop over 1,000 beds in greater than 15 amenities, initially, Rajagopal G Co-Founder and CEO, KITES Senior Care mentioned.
CPC, a part of the US-based Columbia Pacific Group, has a runway to add 1200 residential items to the present 1750 residential items, thereby ensuing in 3000+ items beneath administration in two years.
The growth aligns with the expansion trajectory of the Indian senior care market, concentrating on a mixed market dimension of $30bn protecting senior living and ‘out of hospital’ senior care.
“The coming together of these two platforms in the senior care continuum underlines our commitment to enhancing the quality of life for the elderly. The elder care space is still evolving in our country. Though still at a nascent stage, it has a huge potential”, Dr Pai added.
Rising life expectancy, nuclearisation of households, and better revenue ranges are the expansion drivers in the house.
The Indian senior living market has the potential to develop to round $12 billion by 2030, up from $2 to $3 billion, on the again of an anticipated rise in median age and an ageing inhabitants fuelling a rise in demand for senior housing, in accordance to Colliers, a pacesetter in actual property providers and funding administration.
Nate McLemore, MD, Columbia Pacific Investments mentioned: “We are bringing collectively the most effective of each worlds — KITES’s modern care fashions and our confirmed experience in neighborhood living — to considerably improve the standard of life for our seniors.”

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


Please enter your comment!
Please enter your name here

Share post:



More like this