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SIS Invests ₹10.16 Crores in Age Care Labs to leapfrog into B2C Segment and move up the value chain of Facility Management Services

Posted On : 2024-04-16 09:07:38( TIMEZONE : IST )

SIS Invests ₹10.16 Crores in Age Care Labs to leapfrog into B2C Segment and move up the value chain of Facility Management Services

SIS Limited (SIS), a market leader in Security, Facility Management, and Cash Logistics, announces its investment of ₹10.16 crores in Age Care Labs - an elder care platform operating under brands Emoha Elder Care and Epoch Elder Care, acquiring approximately 4.00% shareholding in the platform. This investment would support SIS's plans to penetrate the B2C segment and also add to SIS's portfolio with Hospitals and Resident Welfare Associations (RWAs). SIS provides Facility Management to the largest number of hospitals in India and works with over 125 condominiums in NCR itself & many in other metro cities.

SIS Ventures, an initiative by SIS Limited, focuses on investing in early-stage tech-enabled companies offering synergistic adjacencies, thereby enhancing value for customers and employees. This marks the third investment under the program, following previous investments in Staqu Technologies and Entitled Solutions.

Of the two businesses in the Age Care Labs platform, Emoha is focused on helping sons and daughters of India help their parents age magnificently in the comfort of their own home - a complex problem, disconnected across emergency, health, and engagement. Epoch Elder Care offers asset-light care homes specializing in assisted living and dementia care. Between Emoha and Epoch, the platform provides the full continuum of care for elders across all ages and health conditions. Alongside the founders, it has a strong leadership team with deep domain, technology and operating experience.

Mr. Rituraj Kishore Sinha, Managing Director of SIS Limited, said, "Our investment in Emoha and Epoch represents a strategic move towards advancement into the B2C segment and move up the value chain of our Facility Management Services. This collaboration holds the potential for significant advantages to SIS's Alarm Monitoring & Response Solution and Pest Control businesses, along with additional services, such as cash-to-home delivery and assistance with daily chores, catering to the unique needs of the elderly population."

He further highlighted, "In the long run, given that SIS ranks among the top 10 private employers in India with over 285,000 full-time staff, there is an opportunity to leverage our capabilities to upskill the workforce in basic geriatric services, facilitate lateral entry into elder care services, and create a scope for a trained workforce for potential export to healthcare segments in international markets from India. This extensive training can be facilitated by SIS's pan-India training centres and 400 offices, which can be utilized for last-mile training and support. This partnership will not only benefit SIS staff but also our clients and their families. Furthermore, SIS overseas offices can assist in sales coordination for expatriates with aged parents living in India."

"170 million sons and daughters in India want the best for their parents at all ages, they want more safety, health, convenience and an active engaged life for their parents/ guardians. With 42 million elders in urban India alone, this cohort is expected to grow 3x by 2050, Emoha and Epoch are committed to helping all parents age magnificently through deep geriatric expertise" says Saumyajit Roy, CEO and co-founder, Emoha Elder Care.

"The prevalence of dementia in India has risen to about 7.4% which means, about 8.8 million people above the age of 60 are living with dementia. Above the age of 70, more than 50% people suffer from one or more chronic conditions. The need for specialised care for seniors becomes a top priority as healthcare spending & burden increase hand in hand with longevity." Adds Neha Sinha, CEO and co-founder, Epoch Elder Care.

SIS provides services to over 125 condominiums in NCR. Additionally, One SIS, an integrated property management services platform, manages several prestigious residential complexes in Kolkata and Bangalore, offering club and valet services management. This partnership with the Age Care Labs platform will facilitate the deployment of elderly care services to these markets. SIS group also extends its services to various tourism sites across India, including religious pilgrimage sites. Considering the high influx of elderly visitors to these pilgrimage sites, this partnership can be instrumental in providing essential elder care services.

Age Care Labs platform has previously secured funding from institutional funds such as Singularity Ventures, Rainmatter Capital, and Gruhas, along with several family offices and high-net-worth individuals.

Shares of SIS LIMITED was last trading in BSE at Rs. 448.70 as compared to the previous close of Rs. 452.80. The total number of shares traded during the day was 4521 in over 415 trades.

The stock hit an intraday high of Rs. 452.00 and intraday low of 422.05. The net turnover during the day was Rs. 2005744.00.

Source : Equity Bulls


SIS INE285J01028 Investment AgeCareLabs