Seattle-based Columbia Pacific Management, an investment firm that runs health-care facilities in a half dozen countries, has purchased Serene Senior Care for an undisclosed amount.
Seattle-based Columbia Pacific Management is entering India’s senior housing market after acquiring an Indian company that operates four such communities.
Columbia Pacific Management, an investment firm that runs health-care facilities in a half dozen countries, has purchased Serene Senior Care for an undisclosed amount.
Under the Serene brand, Columbia Pacific will operate and provide services to senior care communities in India in which residents purchase their own retirement villas, apartments or houses, the company said in a news release.
Columbia Pacific also plans to more than quintuple the number of units under Serene Senior Care’s management, from the current 735 residential units to 5,000. The company plans to build new senior housing communities, with the first two planned for Bangalore.
Most Read Business Stories
- Amazon-owned Whole Foods cuts healthcare benefits for part-time employees
- The market's chilled out, but Seattle home prices still too hot for many first-time buyers
- 'I was stupid': Huffman gets 14 days in college scam VIEW
- Amazon workers bring parents to work
- Air Force finds another problem with Boeing's KC-46 tanker
It currently operates 28 hospitals and three clinics across India, China, Malaysia, Vietnam, Indonesia and Kenya. In India, it opened its first hospital in 2005 and currently has 11 hospitals.
The company focuses on countries where there is a rapidly growing population of older people, a burgeoning middle class, and an under-supply of healthcare and senior care facilities.