Serene Senior Care, one of the leading senior housing operators in India, is being purchased by Seattle-based Columbia Pacific, owner of Columbia Asia Hospital Group, one of the largest and fastest-growing healthcare providers in Asia. With this, Columbia Pacific will undergo a significant expansion of its India senior housing portfolio over the next five years.
Columbia Pacific, a family of private asset and investment management companies, also owns and operates hospitals and senior care facilities across Asia, including the Columbia Asia hospital company in India and Southeast Asia.
Serene Senior Care currently operates 735 residential units in four senior housing communities in South India, with a presence in Chennai, Puducherry and Coimbatore. Serene plans to expand to1,700 units under Columbia Pacific by fall 2017.
The company operates and provides services to India senior care communities in which residents purchase their own retirement villas, apartments or houses. Serene’s services include meals, preventive health care, wellness classes, maintenance and security.
P. Vishwanathan, Managing Director, Serene Senior Care, said, "Serene is already known for its high quality, affordable service to India’s seniors and elegant design of its communities. With the decades of experience and expertise of Columbia Pacific, we are well positioned to provide India’s senior population with communities built to the highest international standards."
Serene, under Columbia Pacific ownership, has aggressive expansion plans in India, which is projected to be the world’s most populous country by the next decade, with a fast-growing senior population and an emergent middle class.
Mathew Powell, Development Director for Columbia Pacific's international healthcare arm, Columbia Pacific Management, said, "Columbia Pacific has been operating hospitals in India since 2005, and we are one of the most experienced operators of senior housing both in the U.S. and China. We’re thrilled to meet the tremendous demand and care for India’s senior population with communities designed for the growing middle class."
