Health-tech firm Pristyn Care eyes IPO in 3 yrs, to expand market presence

Gurgaon-based healthtech firm Pristyn Care aims for profitability within the next six months and eyes an initial public offering (IPO) within three years. 

Harsimarbir Singh, co-founder of Pristyn Care said the company is targeting a 3-4 times increase in revenue in the next three years. “Despite being young, our medical devices business has already raked in $6 million in the past six months alone and we predict that the business can touch upwards of Rs 100 crores this year. We’ve done Rs 900 crores of revenue this year, doubling from the past year. We have also enhanced operational efficiency. Our target is to enter the IPO market with revenues three to four times higher, potentially reaching the Rs 3,000 to Rs 4,000 crore mark,” said Singh.

This notable shift comes despite the recent announcement of the company to reduce its team by 7 per cent in order to streamline operations and decrease fixed costs. The company, known for its elective surgery services, anticipates profitability in its surgery business within the next two quarters. Its direct-to-consumer brand is slated to follow suit within the subsequent three to four quarters.

To this end, Pristyn Care is turning to cost optimisation and targeting growth in key operational areas. By streamlining costs and maximising efficiency, the company aims to enhance its financial performance while expanding its market presence. 

In terms of scaling operations and capturing untapped market opportunities, the company plans to concentrate efforts on its top 10 cities for deeper market penetration into existing cities instead of expanding to new locations. While metros like Delhi and Bangalore are high-priority targets, the company is also looking at Tier-II towns such as Coimbatore, Kochi, Pune and Bhubaneswar.

Pristyn Care operates surgical centres in 30 Indian cities, with their D2C (direct-to-consumer) offerings reaching audiences across 30,000 PIN codes. Key performing cities include Delhi, Bangalore, Hyderabad, Chennai, Pune, Patna, Coimbatore, Bhubaneswar, and Kochi. Initially, the company tested its model in nearly 50 towns to identify areas with high market potential. This evaluation led to a focus on the current 30 cities where it observed significant traction.

One of the strategy priorities for the upcoming year is deepening its presence within these existing markets, particularly in metros like Delhi, Mumbai, and Bangalore. The company is also looking to expand into Tier-II cities such as Coimbatore, Kochi, Pune and Bhubaneswar. Speaking on this, Singh emphasised recognising the limitations of healthcare infrastructure beyond these cities in India. “We prioritise strengthening our presence in these areas rather than expanding into new territories,” he said.

Speaking on the company’s focus on cost optimisation and strategic streamlining, Singh said profitability was prioritised during the annual planning process. “We reviewed all areas of spending, including specialities offered, city presence, marketing channels, operational costs, and staffing. We exited underperforming specialties and cities, focusing on better penetration in major markets with a proven track record. We also optimised marketing spend, leveraging organic growth channels. Finally, we made tough decisions regarding personnel, letting go of around 7 per cent of the workforce who we felt wouldn’t be a good fit for our future growth plans. This strategic streamlining ensures that we have the right people and resources in place to achieve profitability.”

The healthtech company deals in minimally invasive medical and surgical interventions. It has a network of more than 700 partnered hospitals and 100 clinics. The company was started in 2018 and covers proctology, gynaecology, IVF, urology, vascular, otorhinolaryngology, laparoscopy, anaesthetics, and ophthalmology.