Bucharest, December 30, 2025 – Morphosis Capital Fund II, a growth capital fund focused on developing high-growth SMEs, supported by Romania Recovery Equity Fund and InvestEU Fund, announces its fourth investment through the launch of Echo Elderly Care, a platform designed to develop a national network of high-quality elderly care services in Romania. The development of Echo Elderly Care will follow an ambitious consolidation and greenfield investment strategy, starting with the integration of two existing facilities, the AsertivO Elderly Center in Otopeni and Maria Theresia Seniorenresidenz in Sibiu, which form the initial core of the platform.
“Our ambition with Echo Elderly Care is to build a trusted national platform and a strong operational model in a sector where demand is rising faster than supply. Romania’s demographic dynamics, combined with significant emigration, are increasing the need for professional long-term elderly care, while the sector remains underdeveloped. Our priority is to set a consistent standard of care and operations from day one, so families can expect the same quality and professionalism across every location. We see substantial room for organic expansion and further consolidation and we are committed to scaling responsibly, with harmonized practices across all locations,” stated Gabriela Dumitru, Partner at Morphosis Capital.
Echo Elderly Care follows Morphosis Capital’s strategy of building scalable platforms by combining targeted acquisitions with greenfield development. This approach builds on the proven experience of Morphosis Capital in successfully scaling platforms in private education and B2B services through consolidation, as well as in healthcare & wellness and retail through the disciplined nationwide rollout of new operational units.
The Group aims to develop a network of 10 elderly care centers in Romania’s main cities, with AsertivO and Maria Theresia serving as the foundation. As the network expands, total capacity is expected to exceed 2,000 residents, significantly contributing to reducing Romania’s care gap for the elderly. Echo Elderly Care’s development will focus on care excellence, supported by standardized medical protocols, professionalized operations and a strong management team, with a strong focus on quality and consistency of services across locations.
“With the first acquisitions, the AsertivO Elderly Center in Otopeni and Maria Theresia Seniorenresidenz in Sibiu, we are taking the first steps toward building a platform that aims to become the largest and most well-structured network of elderly care centers in Romania. We are launching Echo Elderly Care with a clear and rigorous plan: to develop an organization capable of earning and maintaining long-term trust through demanding medical standards, well-structured operations and a culture deeply oriented toward residents and their families. The Echo Elderly Care platform is designed to deliver integrated solutions for all pathologies and levels of dependency – from advanced socialization, vitality and prevention programs for independent elderly individuals, to complex medical care for residents with high clinical needs. My professional background is closely linked to building and scaling medical services nationwide, particularly in complex medical specialties and this experience will enable us to develop some of the most advanced elderly living programs in Romania. Together with Morphosis Capital and the founders of AsertivO, we are making a long-term investment in a strong team and a robust operating model, designed to consistently deliver quality, safety and continuity as the network expands nationwide,” stated Iulian Pleșcan, Group CEO and co-investor in Echo Elderly Care.
The Echo Elderly Care platform is supported by a management team composed of professionals with extensive experience in healthcare and elderly care, specifically assembled to support the sustainable development of the network. Morphosis Capital will actively support the next phase of growth, focusing on harmonizing operational processes across existing centers, strengthening the operating model and developing the capabilities required for nationwide expansion.
“We started AsertivO with the conviction that elderly care in Romania can and should be delivered at a much higher standard, with professionalism, empathy and medical rigor. Joining forces with Morphosis Capital and becoming part of Echo Elderly Care gives us the resources and the structure to scale that standard beyond a single location. It’s an important step for our team and for the families who are looking for consistent, reliable care they can trust,” stated Andra Marinescu, Founder of AsertivO, Group COO and co-investor in Echo Elderly Care.
The transaction was facilitated by Mihaela Mandru Legal Office, acting as legal advisor to Morphosis Capital. Mazars performed the financial and tax due diligence process, while EY conducted the ESG and ethics due diligence.
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About Echo Elderly Care
Echo Elderly Care is a national platform for elderly care and active aging services, created to develop a high-quality network of care centers across Romania through strategic acquisitions and greenfield investments. The platform delivers integrated solutions covering all levels of dependency and a wide range of medical needs, from socialization, prevention and vitality programs for independent elderly individuals to complex medical care services. Its objective is to set consistent quality standards and to support the responsible development of elderly living services nationwide. Echo Elderly Care aims to actively contribute to reducing Romania’s gap of specialized elderly care services while setting unified quality benchmarks nationwide.
About Morphosis Capital
Morphosis Capital Partners BV is a private equity firm established by four entrepreneurs, Simona Gemeneanu, Gabriela Dumitru, Dragos Petre, and Andrei Gemeneanu. The fund aims to contribute to developing and transforming Romanian and Central European SMEs. The European Investment Fund (EIF), the leading financing platform for European SMEs, co-financed through the Regional Operational Programme, the NextGenerationEU with the financial backing of the Government of Romania under the Romania Recovery Equity Fund and the InvestEU Fund of the European Union, is the anchor investor in Morphosis Capital. International and local institutional investors and entrepreneurs, as well as the founders themselves, are co-investors in the fund. Morphosis Capital invests in high-growth Romanian and CEE companies from sectors such as healthcare, technology, niche manufacturing, consumer products and retail, and B2B services, which have a strong potential for international expansion and an EBITDA between 1 and 5 million euros. Morphosis Capital’s portfolio includes Medima Health, EMI, Cronos Med, Stay Fit Gym, Romania Education Alliance, Supermarket La Cocos, EnduroSat and Echo Elderly Care. In 2023, the fund completed its first full exit by selling its minority stake in Dr. Leahu Dental Clinics to Regina Maria, followed by full exit from DocProcess to AGENA3000 in 2025. www.morphosiscapital.com
This operation is funded by the European Union – NextGenerationEU with the financial backing of the Government of Romania under the Romania Recovery Equity Fund
This operation benefits from support from the European Union under the InvestEU Fund
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