Max Group company Antara commits over 300 Crore for Senior Care in India, launches chain of Care Homes and Care at Home Services
- Antara today announced its foray into the ‘Assisted Care Services’ space with the launch of 2 new lines of business – Care Homes and Care at Home
- Antara plans to invest over Rs. 300 Crore in the next 3-4 years across Residences for Seniors, Care Homes and Care at Home
New Delhi, 15th July 2020
Antara, a part of the $3 bln Max Group, today 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 new category launch comes against the backdrop of the Covid-19 pandemic and its direct impact on the lives of seniors. Antara 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.
The current launch is a part of Antara’s strategic shift towards becoming an integrated service provider for all senior care needs. Antara’s entry into the new category will allow it to cater comprehensively to the evolving requirements and aspirations of seniors through a blend of Lifecare and Lifestyle offerings, delivering a complete and seamless experience. Antara opened its first Care Home in Gurugram today. This will be followed shortly by another Care Home launch in South Delhi.
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. 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.
Antara’s 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 Care Homes will provide long-term care to seniors who need constant medical and nursing supervision. They will also help in managing other aspects of the seniors’ daily lives. The short-term care services will be geared to provide a comfortable and sanitised environment for the recuperation of seniors, who have gone through an intense medical episode or require short term assisted stay for other purposes.
The Care Homes will also have common facilities such as dining spaces, activity spaces, and lounge areas well-equipped with senior-specific details in addition to regular engagement activities. Residents will be served nutritionally assisted meals in a homely environment. They will have access to specially designed care plans for the duration of their stay under the consultation of in-house and external doctors.
Antara’s second new line of business, Care at Home services will provide well-equipped, medically trained professionals who can offer seniors the care needed inside their own home’s comfort. The initial set of services under the Care at Home business include critical care, physiotherapy, rehabilitation, nursing, GDA, and diagnostics.
Antara will also provide Med Care Products such as respiratory aids, wheelchairs, walking sticks, and other consumables to help address the diverse needs of seniors and ensure quality stay for its residents.
Commenting on the launch, Tara Singh Vachani, Executive Chairman, Antara said, “For us, Antara 2.0 is a natural progression as it incorporates our learning over the past many years, from the senior living business. Over this period we realized that to cater comprehensibly 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 our conviction about the immediate and pressing need for professional assisted care. Therefore, we decided to accelerate our plans to launch ‘Assisted Care Services’ which can provide standardized and quality senior care with Max Group’s integral value of Sevabhav.”
Elaborating on the evolving senior care segment, Rajit Mehta, CEO and MD, Antara said, “We believe that the lack of specialized and standardized Assisted Care Services represents a significant gap in the healthcare and wellness space for seniors. Such models have proven successful in many other countries. With Max Group’s experience in healthcare and hospitality, we are well positioned to excel in this venture. The customer needs a trustworthy provider for such service offerings and the Max brand will stand us in good stead. We realize that this business will need a certain scale to be able to maintain high service standards and to be profitable. Hence, we plan to scale up to over 40 Care Homes in the future.”
“The Care at Home segment has recently witnessed entry of organized players. However, none of these have a specific focus on the needs of the senior population. We plan to fill this void through our Care at Home services.”, he added.
Globally, Assisted Care Services is an established and sought-after category, especially in markets such as Japan, Singapore, the US, and many parts of Europe. India is still at a nascent stage but the demand for Assisted Care Services is expected to pick up due to the increase in mass affluent elder population, quite a few of whom are seeking specialized services and solutions to their changing needs. The Covid-19 outbreak has accelerated the demand for dependable and professional services and solutions for seniors. The potential market size of Assisted Living Services in India is estimated at about $1 billion.
The senior population in India is growing fast with over 20 million elders who stay alone, and the number is slated to rise in the next two decades. The Indian consensus suggests the share of elders as a percentage of the total population in the country will have increased from around 7.5% in 2001 to almost 12.5% by 2026 and surpass 19.5% by 2050. Of the current 120 million senior population, 40 million have vision-related problems, 3.7 million have diabetes and 1.7 million have cardiovascular ailments.
Antara is currently present in the senior living space with residences for seniors operational in Dehradun and recently launched in Noida.
Launched in 2013, Antara is a wholly owned subsidiary of Max India Limited. It is an integrated service provider for all senior care needs. It operates two main lines of businesses – Residence for Seniors and Assisted Care Services.
Antara’s first residential community in Dehradun consists of around 180 apartments spread across 14 acres of land. In 2020, Antara launched a new senior living facility in Noida, Sector-150. With 340 apartments in its first phase of development, it will cater to the social, recreational, educational, wellness, and health-related needs of seniors and will be ready for possession by 2024.
Antara’s Assisted Care Services include ‘Care Homes’ and ‘Care at Home’. They 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. Starting with the first facility in Gurugram, Antara’s Care Homes, will provide long-term care to seniors who need constant medical and nursing supervision and short-term care services for the recuperation of seniors. Antara plans to set up a chain of 35-40 Care Homes in the next three years. Its Care at Home services will provide well-equipped, medically trained professionals who can offer seniors care inside their own home’s comfort.
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