Out-of-hospital care provider HCAH said it has acquired the online store Seniority from RPG Group.
Seniority is India’s largest e-commerce store catering to the needs of elderly people.
HCAH didn’t disclose the details of the acquisition.
Sources told ET that Seniority is valued at Rs 100 crore.
HCAH plans to integrate its existing healthcare services into the company and develop a geriatric-focused vertical to provide end-to-end senior care services for their holistic well-being and requirements.
Seniority offers a curated portfolio of over 20,000 products ranging from medical to lifestyle for senior citizens and sells direct to customers.
The company also operates two offline stores in Pune and Chennai.
“Currently, 60% 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 centers,” said Vivek Srivastava, co-founder and CEO of HCAH.
“By acquiring Seniority, our intent is to cater to all the needs and provide a One Stop Shop to our rapidly growing elderly population. We believe that the growth in the elderly markets is a secular trend that will continue for the next many decades,” Srivastava added.
Srivastava said besides growing the digital business, HCAH would also open new stores of Seniority on a standalone basis as well as in transition care centers.
“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,” Srivastava said.
The Delhi-NCR-based HCAH formerly known as Health care at HOME has raised investments from Burman Family (Promoters of Dabur), Founders of Healthcare at Home UK, Quadria Capital, Singapore-based healthcare fund and ABC Impact.
The company has presence in 70 cities across the country providing rehabilitation and recovery, elderly care services and chronic disease management services.
Currently, there are more than 150 million senior citizens in India with an average age of close to 70 years. By 2025, 12% of the population in India will be aged 60+ and the geriatric population is projected to reach 280 million by 2050 which will boost demand in this sector.
