Max Group firm to invest Rs 300 crore in assisted living for the elderly

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Published: July 16, 2020 11:35 AM

The Care Homes and Care at Home services will cater to seniors over the age of 55, who need more immersive interventions in their daily lives due to medical or age-related issues, it added.

Max Group, Antara,Care Homes and Care at Home, Assisted Care Services, Tara Singh Vachani, Care at Home services, latest news on max groupThe Care Homes and Care at Home services will cater to seniors over the age of 55, who need more immersive interventions in their daily lives due to medical or age-related issues, it added.

Max Group firm Antara on Wednesday announced its foray into the ‘Assisted Care Services’ space with the launch of two new lines of business – Care Homes and Care at Home. “The company plans to invest over Rs 300 crore in the next 3 to 4 years across these new Assisted Care Services business lines and its existing business line of residences for seniors,” Antara said in a statement.

The Care Homes and Care at Home services will cater to seniors over the age of 55, who need more immersive interventions in their daily lives due to medical or age-related issues, it added.

“For us, Antara 2.0 is a natural progression as it incorporates our learning over the past many years, from the senior living business,” Antara Executive Chairman Tara Singh Vachani said. Vachani further said “over this period, we realized that to cater comprehensively to the senior segment, we will need to graduate to an integrated platform for seniors, offering multiple service lines”.

The problems faced by seniors in the recent time, due to the sudden and prolonged lockdown helped strengthen Antara’s conviction about the immediate and pressing need for professional assisted care, she added. The company opened its first Care Home in Gurugram, in the National Capital Region on Wednesday. This will be followed by another Care Home launch in South Delhi, it added.

“Antara plans to set up a chain of 35-40 such Care Homes in the next three years that will operate with an asset-light model. Of these, around 10 are expected to specialise in Memory Care,” it added.

According to Antara CEO and MD Rajit Mehta “we believe that the lack of specialized and standardized Assisted Care Services represents a significant gap in the healthcare and wellness space for seniors. We are well positioned to excel in this venture”.

Care Homes will include healthcare and monitoring services with round the clock nursing support from medically trained care professionals, daily doctor consults, vital monitoring, medication administration and emergency response protocol, regular physical activity, physiotherapy, and counselling sessions, the statement said.

The Care Homes will also have common facilities such as dining spaces, activity spaces, and lounge areas equipped with senior-specific details in addition to regular engagement activities, Antara said. The second new line of business, Care at Home services will provide medically trained professionals who can offer seniors the care needed inside their own home’s comfort, it added.

The initial set of services under the Care at Home business include critical care, physiotherapy, rehabilitation, nursing and diagnostics among others, the statement said.

Globally, Assisted Care Services is an established and sought-after category, especially in markets such as Japan, Singapore, US, and many parts of Europe. The potential market size of Assisted Living Services in India is estimated at about USD 1 billion, it added.

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