Pristyn Care
Overview
Pristyn Care is an Indian health-tech startup founded in 2018 by Harsimarbir Singh, Dr. Vaibhav Kapoor, and Dr. Garima Sawhney. Based in Gurgaon, India, it specializes in secondary care surgeries, providing a seamless experience across a network of 800 hospitals and 200 clinics, utilizing advanced surgical techniques and technology. Pristyn Care has raised about $177 million, achieving unicorn status in 2021 with a valuation of $1.4 billion. The company focuses on employing technology-driven solutions to enhance patient care, ensuring accessibility and affordability in healthcare.
Recent Developments
Pristyn Care has been actively involved in expanding its operations and refining its business model over the past few years. Key recent developments include:
- December 2024: Pristyn Care reported robust financial growth with a 33% increase in revenue to ₹601 crore for the fiscal year 2023-24. The company is aiming for an IPO within the next three years and is targeting profitability by FY26.
- October 2024: The company introduced a cashless treatment pilot program for non-empanelled hospitals, enhancing access to healthcare services with reduced financial burdens, in collaboration with Aditya Birla Health Insurance.
- August 2024: Pristyn Care launched the Pristyn Care Innovation Lab to promote AI advancements in healthcare, fostering innovation and providing platforms for early-stage AI startups.
- March 2024: As part of strategic restructuring, Pristyn Care laid off about 120 employees, aiming for increased profitability in the upcoming fiscal year.
- 2024: The company planned to raise between $50 million to $100 million to boost its expansion and service offerings.
- Early 2023: Filings indicated turnover nearing ₹500 crore with ongoing efforts to reduce losses and enhance operational efficiency. Despite challenges, Pristyn Care has continued its trajectory toward becoming a more significant player in the healthcare industry.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Gurgaon, India |
| Founders | Harsimarbir Singh, Dr. Vaibhav Kapoor, Dr. Garima Sawhney |
| Revenue | ₹601 Crore (FY24) |
| Key Investors | Peak XV Partners, Tiger Global, Epiq Capital, Sequoia Capital |
| Industry | Healthcare Technology |
| Number of Employees | Approximately 1,700 |
Early History
Pristyn Care was established in 2018 with the goal of transforming the landscape of secondary care surgeries in India. The startup was founded in response to perceived inefficiencies in surgical healthcare, where patients often faced hurdles in accessing quality care. The company utilized an asset-light model similar to OYO, leveraging under-utilized hospital infrastructure to perform surgeries while focusing on patient-centric care and streamlined operational processes. Early on, Pristyn Care secured investments from leading venture capitalists, allowing it to scale operations rapidly.
Company Profile and Achievements
Pristyn Care employs a full-stack business model, which includes setting up its own clinics and leveraging third-party hospital infrastructure. It specializes in minimally invasive procedures across specializations like proctology, urology, ENT, and more.
- Business Model: The company charges for surgical services while ensuring a seamless patient experience through technology and service integration. Pristyn Care also provides logistics, healthcare consultation, and post-operative follow-ups.
- Achievements:
- Achieved unicorn status in late 2021.
- Expanded its network to over 200 clinics and 800 partner hospitals.
- Reported significant revenue growth, achieving a target of reaching ₹1,000 crore in revenue by FY24.
- Introduced innovative programs like cashless treatment pilots and an AI innovation lab to enhance operational capabilities.
- Strategic Focus: Concentrates on high-demand surgeries, optimal utilization of surgical resources, and expansion into new markets, including international footprints.
Current Operations and Market Position
Pristyn Care operates in more than 40 cities, optimizing the use of existing medical infrastructure. Its approach facilitates cost-effective surgeries while ensuring high standards of care. The company is recognized for its innovative use of technology such as telemedicine and electronic health records. In the competitive landscape, Pristyn Care holds a notable position by providing integrated healthcare services beyond traditional hospital setups, effectively bridging gaps in patient care services.
Pristyn Care Near Me
Pristyn Care’s wide geographical presence, including in Tier-2 and Tier-3 cities, ensures its services are accessible to a broad population. The company has clinics and surgical centers in major cities like Delhi, Mumbai, Bangalore, and Hyderabad.
Pristyn Care Business Model
Pristyn Care capitalizes on an asset-light model focusing on day-care procedures. It collaborates with multiple healthcare facilities and expert surgeons to provide surgeries without investing heavily in hospital infrastructure. This model enables it to offer diverse surgical options while maintaining a lean operation structure.
Conclusion
Pristyn Care plays a pivotal role in reshaping India’s surgical healthcare sector. By prioritizing patient-centric services and embracing technology-driven innovations, it has positioned itself as a leading healthcare provider. As Pristyn Care continues its journey toward an IPO, it aims to further enhance its technological capabilities, expand its reach, and solidify its market position, ensuring accessibility and affordability in surgical care across India.