Columbia Pacific acquires Serene Senior Care

US-based Columbia Pacific has acquired Serene Senior Care, which operates senior living housing projects in South India, for an undisclosed amount.

Columbia Pacific operates 11 multispeciality hospitals in India through its arm Columbia Asia, while Serene Senior Care currently operates 735 residential units in four senior housing communities in Chennai, Puducherry and Coimbatore.

"Serene Senior Care 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," Columbia Pacific said in a statement.

Columbia Pacific plans to expand its India senior housing portfolio over the next five years. To begin with, the first two senior housing communities that Columbia Pacific will build are planned in Bangalore.
 

Columbia Pacific plans to have 1,700 units under management this year and 5,000 units within five years.

Serene Senior Care operates and provides services to India senior care communities in which residents purchase their own retirement villas, apartments or houses. The services include meals, preventive health care, wellness classes, maintenance and security.

Columbia Pacific, comprising 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 is already known for its high quality, affordable service to India's seniors. 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," said P Viswanathan, Managing Director of Serene Senior Care.

"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 US and China," Columbia Pacific Management Development Director Matthew Powell said.