Gurugram-based healthcare platform Pristyn Care has raised $12 Mn in Series B from Sequoia Capital India, Hummingbird Ventures, Greenoaks Capital and AngelList to expand its healthcare operations and technology.
Earlier in June this year, Pristyn Care raised $4 Mn in Series A round from Sequoia Capital India. The company used the capital to improve its medical capabilities, invest in technology and expand its team of medical professionals.
The healthcare startup has managed to set up an ecosystem of over 70 clinics and 250 partner hospitals across 14 Indian cities, which include Tier 2 cities like Bhopal, Chandigarh and Patna. Moreover, Pristyn also has more than 70 in-house super-specialty surgeons with expertise in various branches — general surgery, ENT, urology, gynaecology, vascular and cosmetics.
“With our asset-light and technology-enabled approach, we are able to bring down the cost of advance surgeries by almost 30-40%, compared to larger corporate hospitals’’, said Pristyn’s cofounder Harsimarbir Singh, in a press statement.
Founded in 2018 by Harsimarbir Singh, Dr. Vaibhav Kapoor and Dr. Garima Sawhney, Pristyn offers affordable advanced surgical care to patients through innovative surgical techniques and recovery measures. The platform has performed over 10,000 surgeries till date. According to the company’s previous statement in June this year, the platform had conducted 2K surgeries.
“In the past year of our partnership, Pristyn has delivered a great patient experience while growing the business aggressively with strong economics. The company has expanded its offerings both geographically and across specializations,” said Sequoia Capital India’s principal, Ashish Agrawal.
Pristyn is working towards building a strong ecosystem to deliver surgical care. Besides surgeries, the platform focuses on doctor’s consultation, hospital admission, pre-and-post-surgical follow-ups, insurance claim processing and reimbursements.
According to an IBEF report of March 2019, the Indian healthcare market is expected to reach $372 Bn by 2022. The report also adds that India’s competitive advantage lies in its large pool of well-trained medical professionals. Moreover, the cost of surgery in India is about one-tenth of that in the US or Western Europe, making Indian healthcare more popular.
Besides Pristyn Care, other names in this domain include Zoctr, Portea Medical and Care24 among others. Last year, Portea Medical raised $3.6 Mn from Alteria Capital, and Zoctr raised funding from NB Ventures and investors from Udaipur Angel Network. According to Datalabs by Inc42, the total investment in healthtech startups increased by 45.06% in 2018.