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Morgan Stanley fund looks to own a stake in Athulya with Rs.100 cr investment

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A Morgan Stanley fund is looking to acquire a 20-25% stake in  Athulya Assisted Living Pvt. Ltd., a geriatric care company. North Haven India Infrastructure Fund is expected to invest Rs.100 crore ($12 million) in the company.

A Morgan Stanley fund is leading the charge to invest in Athulya Assisted Living Pvt. Ltd., a senior care provider located in Chennai.

Morgan Stanley Investment Management Inc.’s North Haven India Infrastructure Fund may invest 100 crore ($12 million) in Athulya for a 20-25% stake. This is the startup’s first round of institutional investment.

The organisation, which operates under the Athulya Senior Care name, provides geriatric assisted living and home healthcare services.

In September 2021 that the company is in negotiations with venture capital companies to fund $10 million. The funding was to be used mostly for facility development and service expansion in the southern states.

Athulya began as Healthabove60 in July 2014, delivering solely home healthcare services. After incorporating a senior living rental concept in 2017, it was called Athulya Assisted Living.

With 500 beds, the business promises to be one of India’s largest assisted living institutions.

It provides services such as assisted living in senior living communities and a senior living rental model, as well as geriatric home healthcare.

It includes four facilities in Chennai and one in Bengaluru, the largest of which has about 150 beds.

Since its launch, the firm claims to have served over 15,000 seniors, providing nursing care, doctor visits, physiotherapy, rehabilitation, blood sample collection, ICU setup at home, and bringing the full range of healthcare services to their doorstep. North Haven India Infrastructure Fund invests in asset-light infrastructure assets such as energy, utilities, mobility, logistics, social infrastructure, and healthcare.

Previous investments by the fund include pallet pooling company Leap India, trash management and recycling business Recykal, and iBus Network and Infrastructure. The investor, together with Denmark’s Investment Fund for Developing Countries (IFU), emerged as front-runners to invest in organic food exporter Suminter India Organics Pvt. Ltd. last month, according to media reports.

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