Nawaloka ventures into elder care service

The Nawaloka group has signed a Memorandum of Understanding (MoU) with Harmony and Fusion International (Pvt.) Ltd to operate an elder care service as a joint venture with an investment of Rs.130.38 million.
The new company was incorporated as Nawaloka Guardian International (Pvt.) Ltd and the Nawaloka group fully-owned subsidiary New Nawaloka Medical Centre (Pvt.) Ltd will own 60 percent of the shares in the new establishment, worth Rs.78.23 million.
Already, blue-chip conglomerate Aitken Spence group also informed of its intention to enter into the elder care services sector.