Pristyn Care opens 3 hospitals in NCR, targets 50 by FY28 public listing

Healthtech firm Pristyn Care moves from asset-light model to hospital ownership, aiming for 50 hospitals, Rs 2,000 crore revenue and 20% Ebitda by FY28 IPO

Healthtech startup Pristyn Care on Tuesday announced the launch of three new hospitals in the national capital region (NCR) — two in New Delhi and one in Gurugram — to boost profitability and improve patient outcomes, as it moves towards a plan to go public by 2027-28 (FY28).

 

In a pivot from its earlier asset-light business model of partnering with existing hospitals to conduct surgeries and handling patient acquisition, technology and coordination, the healthtech unicorn is planning to add around 50 facilities in the next three years.

 

On the reasons behind the pivot, according to Pristyn Care cofounder Harsimarbir Singh, is that while the company has had its own patient base and demand in the past five years, it now aims to own and operate hospitals.

 

“On an average, the company conducts 80,000 to 90,000 surgeries annually with its own doctors and equipment, and just rents out operation theatres in partner hospitals,” he said.

 

The company is looking at expanding its owned-hospital footprint to key metros like Mumbai, Bengaluru, Hyderabad, Pune, Chennai, Ahmedabad, Patna, Chandigarh, and Coimbatore.

 

Singh added that Pristyn was aiming to open around 17 more hospitals by next March. “These would be 50- to 60-bed hospitals primarily catering to secondary care, which includes planned surgeries such as kidney and gall bladder stone removal and hernia,” he added. 

 

“The growing network will stay focused on advanced surgical care in general surgery, orthopaedics, ophthalmology, urology, gynaecology, and plastic surgery,” the company said.

 

Not disclosing the timelines, Singh said the company had got a strong inbound interest on the funding front. However, the company is aiming at going public by FY28. “Our public goal is to open 50 hospitals in the next three years, get to over ₹2,000 crore in revenue, and 20 per cent in earnings before interest, tax, depreciation and amortisation (Ebitda) before getting into public markets,” Singh added.