To address the country’s ageing population, home healthcare services provider HCAH has acquired an undisclosed sum for RPG Group-owned Seniority, which bills itself as India’s largest geriatric-centric digital platform. Seniority is India’s largest e-commerce store that caters to the needs of the elderly.
“We, as a country, are becoming older,” Vivek Srivastava, HCAH Co-Founder and Chief Executive, told businessline, adding that more people in the 60-plus age group are looking to be less dependent on their children, even as they have more money, more needs, and are becoming more savvy with technology, as well.
Over 150 million senior citizens in India are estimated to be over the age of 70. By 2025, 12% of India’s population will be over the age of 60.
HCAH, formerly known as Healthcare at Home, is a health-tech company that operates in the out-of-hospital healthcare segment and has received funding from the Burman family (promoters of Dabur), the founders of Healthcare at Home UK, Singapore-based healthcare fund Quadria Capital, and ABC Impact.
one-stop shop for the elderly
The company aims to become a “one-stop shop for the elderly,” Srivastava said. “Currently, 60 per cent of our customers are elderly to whom we provide rehab, ICU and nursing, caregiver, consultation, lab and equipment services at home, digitally and in our transition care centres. As part of our phygital (physical and digital) strategy, we would open new Seniority stores on a standalone basis as well as in our transition care centres. We will launch new services such as assisted living, elderly day-care and elderly concierge services in the future to further solidify our presence in the elderly market”
Seniority sells directly to customers and has a portfolio of over 20,000 products ranging from medical to lifestyle for senior citizens. The company has two physical locations in Pune and Chennai.
HCAH, which has previously made two acquisitions, expects to end this fiscal year with revenues of 150 crore, with a target of 500 crore by 2026.
