Even Healthcare secures $20 million to expand its managed-care hospitals

With this announcement, Even Healthcare reports operating break-even within six months of its first hospital launch. The fundraise also marks a 2x valuation milestone for the company

Even Healthcare has secured $20 million in new funding, led by existing investors such as Lachy Groom and Alpha Wave, and joined by new investors including Sharrp Ventures. The round brings Even’s total funding to $70 million and more than doubles the company’s valuation in under 12 months.

 

Even Healthcare will use the capital to expand its hospital footprint in Bengaluru and scale its managed-care model. This is designed to optimise patient recovery and outcomes rather than hospital utilisation. The firm said its care teams remain accountable across the full patient journey. This includes early access through 24/7 teleconsultations and coordinated diagnostics to hospitalisation when needed, and structured recovery support at home, helping prevent avoidable complications and admissions.

 

With this announcement, the company also reported that its first hospital reached operating break-even in under six months. This milestone reflects the strength of Even’s managed-care approach, which aligns clinical and financial incentives around continuity of care, early intervention and monitored recovery, enabling better outcomes alongside sustainable unit economics.

 

“Many hospitals take two to three years to reach operating break-even. What matters even more is how we got there: Even’s model is structurally designed to reduce what many hospitals are paid to maximise—unnecessary admissions, long stays and avoidable return visits. This tells us you can build a hospital that keeps people healthier, puts patients first, and still run a strong business,” said Mayank Banerjee, co-founder, Even Healthcare.

 

Lachy Groom, an investor in Even Healthcare, said the firm is demonstrating something rare in healthcare: strong clinical outcomes alongside early unit-level profitability.

 

“Managed care works when incentives are aligned around patient recovery, and Even has shown that this model can scale without compromising quality,” said Groom. “Their ability to reach break-even in under six months while reducing avoidable hospitalisations gives us confidence that this is a business worth doubling down on.”

 

Even Healthcare also disclosed early operating data from a tracked cohort across its hospital and care network, showing no unplanned 30-day readmissions among more than 350 surgeries and no reported post-operative infections. The company said it delivered over 5,000 outpatient visits and avoided more than 200 hospitalisations through monitored at-home recovery, while average hospital stays were at least 40 per cent shorter than in comparable settings for similar case mixes.

 

Over the past year, Even Healthcare said it has demonstrated strong momentum across clinical outcomes and operational execution. In early 2025, the company reported a 50 per cent reduction in post-surgery hospital readmissions and completed its first ESOP (employee stock ownership plan) buyback in March, an uncommon milestone for a healthcare startup at this stage. In May 2025, Even launched its first hospital in Bengaluru, marking its transition to a fully integrated managed-care provider. By September 2025, the company achieved a 92 per cent online revenue retention rate, among the highest in the healthcare sector, reflecting growing member trust and the impact of its outcomes-first model.