Announcing its foray into Bengaluru, Antara Senior Care, a subsidiary of the Max Group, plans to develop 500 senior living homes sprawling 1 million square feet (msf), the company said on October 31.
The company plans to invest Rs 300 crore in assisted care services including Care at Home, Medcare and other services across India over the next three to four years.
It has signed a non-binding term sheet with a real estate developer in a prominent location in Bengaluru. The company did not share further details.
As part of the Assisted Care Services portfolio, it plans to set up three care homes in Bengaluru with a total capacity of about 200 beds with care-at-home services and MedCare equipment.
"By mid-2050s, it is projected that we will have more over-65 years population than under-15 years. At Antara, we recognize that this will mean shifting the trajectory, both in terms of business models and scale-up. This implies more investment in senior care and exploring industry alliances to continue to drive innovation in this sector," Rajit Mehta, MD of Max India and MD and CEO of Antara Senior Living said.
Launched in 2013, Antara is a wholly owned subsidiary of Max India Limited, one of the three listed entities of the Max Group. Currently, the company has a presence in Dehradun and Noida.
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