August 7th, 2019, New Delhi
Rajit Mehta Appointed as MD & CEO of Antara; To Oversee New Business Initiatives at Max India Tara Singh Vachani to Become Executive Chairman of Antara
The Board of Antara Senior Living, India’s premier senior living company, today announced the appointment of Rajit Mehta to the position of Managing Director & CEO of Antara Senior Living. Rajit was the MD & CEO of Max Healthcare till recently. He will also take on a Group level position overseeing Max India’s New Growth Initiatives as well as Max Group’s Human Capital function as an Advisor.
Antara’s Board also approved the ascension of Tara Singh Vachani, the Company’s current executive leader and MD, to the position of Executive Chairman. As MD & CEO of Antara Senior Living, Rajit will spearhead Antara 2.0 – a rejuvenation strategy, which aims to take the organization to a new scale of growth and operations. In this role, he will report to Tara, who has passionately nurtured Antara since it was just a nascent idea, into India’s premier senior living organization today with a mindful culture and a highly talented team.
Rajit’s primary focus will be on Antara’s operations and future growth. Additionally, given his diverse professional experience, Rajit will provide leadership and oversight to new business initiatives and Organizational & Human Capital matters across the Max Group. For his Group responsibilities he will be reporting to Analjit Singh, Founder & Chairman, Max Group and Mohit Talwar, Vice Chairman, Max Group.
P Dwarakanath, a widely respected professional, who has been leading the Group’s Human Capital function since the last 12 years, has expressed his desire to demit office in Dec 2019 and will gradually transition his responsibilities to Rajit.
Rajit will continue on the Boards of Max Life and Max Skill First as a non-executive Director and will be a special invitee to the Max India Board.
This new work portfolio marks yet another reinvention for Rajit, who has worn several hats during his time as a Max Leader. He was a founder member of Max Life and was instrumental in helping the company become an admired, profitable and well-run organization. During his tenure at Max Life, he excelled in several roles from Executive Director, Human Resources to Chief Operating Officer and took on additional responsibilities as the Chief Transformation Officer providing oversight to an aspirational change agenda which resulted in significant revamp of the operating model and enhanced value creation.
Rajit shifted to Max Healthcare five years ago at a time when the organization was on the threshold of a makeover. Since then, he has admirably led MHC’s transformation through a 5C framework comprising Care, Clinical Excellence, Cohesion, Commitment and Compliance. He has progressed Max Healthcare into a highly talented & patient centric organization, with significantly enhanced clinician strength. He also supported and integrated two major acquisitions and seeded several alternate business models. Under his leadership, the Max Healthcare brand has flourished and has delivered healthy growth in revenue and profitability.
Rajit will assume his new office and responsibilities effective immediately.
About Antara Senior Living
Launched in 2013, Antara Senior Living is a 100% subsidiary of Max India. It is pioneering the concept of ‘Age in Place’ for people over 55 years of age, by developing Senior Living communities in India. The first Antara community was launched in April 2017 near Dehradun, Uttarakhand with 190 apartments spread over 14 acres of land. The company has now sold more than 50% of its units in the community. Since inception, Antara has generated collections of Rs. 290 Cr.
About Max Group
The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance, Healthcare and Health Insurance industry. It has recently ventured into high potential sectors – Senior Living and Real Estate. In FY2019, the Group recorded consolidated revenue of Rs. 22,150 Cr. It has a total customer base of 11 million, over 350 offices spread across India and employee strength of more than 27,500 as on 31st March 2019. The Group’s investor base includes marquee global financial institutions such as New York Life, KKR, IFC Washington, Vanguard, Ward Ferry, New York Life, Briarwood Capital, Nomura, Aberdeen, First State Investments, First Voyager, Eastspring, Target Asset Management, Baron, Jupiter and Doric Capital.
About Max India
Max India, the holding company of Max Bupa Health Insurance and Antara Senior Living, is focused on health and allied businesses. Max Bupa Health Insurance is a joint venture with global leader Bupa Finance Plc. (UK), and has a well-entrenched position in its category and are recognized for their outstanding service standards. Max India owns a 100% stake in Antara Senior Living, India’s premiere senior living organization. Max India is listed on both the Bombay Stock Exchange as well as the National Stock Exchange. For more details, visit www.maxindia.com
For information please contact:
Antara Senior Living