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Pristyn Care lays off around 120 employees as it targets profitability and IPO

EntrackrEntrackr · 1y ago
Pristyn Care lays off around 120 employees as it targets profitability and IPO
Medial

Surgery-focused hospital chain Pristyn Care has reduced its workforce by 7% as the firm eyes profitability and initial public offering in the next few years. Pristyn Care said that it is discontinuing three redundant categories and the move will impact less than 7% of the 1,700 employees, with the majority in entry-level and support functions. It has also decided to exit six cities that were not adding adequate value to the business. “These changes are essential to align with the company’s strategic vision of efficiency, performance excellence, and long-term sustainability,” said the company in a press release. The firm will also provide comprehensive support to affected employees which includes full notice periods and severance packages, accelerated vesting of Employee Stock Ownership Plans (ESOPs) for the next three months and extended medical insurance coverage for employees and their families for the next six months. This is the second instance of layoffs at the Gurugram-based company in the past 12 months. In March 2023, it let go of around 45 employees because of their poor performance. Meanwhile, Pristyn Care has announced its ambitious goal to achieve profitability by FY25. The organisation has revealed plans for an IPO by 2027. Pristyn Care managed to grow its operating scale by 44.7% and cross Rs 450 crore mark in the fiscal year ending March 2023 or FY23. Its losses grew 38.27% to Rs 383 crore during the last fiscal year. As per the company, it has managed to reduce its marketing costs by 50% in the past year with an additional 20% reduction in the last quarter. The firm targets to reach Rs 900 crore in revenue by 2024, which is 100% growth year-on-year and the company is also on track to reduce EBITDA Losses by 50% YoY. Pristyn Care raised around $85 million from Peak XV Partners, Tiger Global and others to enter the unicorn club in December 2021. The firm also acquired Ratan Tata and Tiger Global-backed company Lybrate in June 2022.

We Empower Tier II, III Hospitals With Resource Optimisation & Standardisation Across 30+ Cities: Pristyn Care’s Dr Vaibhav Kapoor

Inc42Inc42 · 1y ago
We Empower Tier II, III Hospitals With Resource Optimisation & Standardisation Across 30+ Cities: Pristyn Care’s Dr Vaibhav Kapoor
Medial

Pristyn Care is a healthtech startup that aims to standardize surgeries and treatments in small and midsized hospitals, enabling them to provide the same quality of care as corporate hospital chains. By partnering with hospitals and clinics in various cities, Pristyn Care optimizes resources and ensures affordable patient care. The startup addresses the issue of low patient footfall and occupancy rates in smaller healthcare facilities in Tier II and III cities by connecting them with specialist doctors and providing access to high-end equipment. Pristyn Care also offers training programs for healthcare professionals to improve care quality and implements technology infrastructure for scalability and patient privacy.

Pristyn Care opens its first super-speciality hospital in South Delhi

EntrackrEntrackr · 5m ago
Pristyn Care opens its first super-speciality hospital in South Delhi
Medial

Pristyn Care opens its first super-speciality hospital in South Delhi Surgery-focused healthcare institution Pristyn Care has opened its first super-specialty hospital in South Delhi. With this, the Gurugram-based firm is expanding its infrastructure and deepening its commitment to advanced patient care. According to the company, the new hospital has four modular operating theaters with advanced technology, including a Level 3 NICU for newborn care. With the expansion, Pristyn Care is equipped to handle cosmetology and dermatology, offering a high-end setup for procedures such as anti-aging treatments, fat loss therapies, and CoolSculpting, along with a comprehensive range of laser treatments. In the last five years, Pristyn Care has conducted 300,000 surgeries. It now handles over 3 million patient interactions yearly, with 100,000 surgery registrations each month. Pristyn Care aims to establish 50 hospitals across 25 cities within the next three years, with plans to open 15 new hospitals in the coming year. The expansion will focus on key cities such as Delhi NCR, Bangalore, Hyderabad, Mumbai, Pune, Chennai, Patna, Coimbatore, Bhubaneswar, Chandigarh, Ahmedabad, and Kochi. Additionally, three new hospitals are set to be launched within the next four months. To support the growth, Pristyn Care aims to employ more than 3,500 healthcare professionals and 750 surgeons in the facilities. For the fiscal year ending in March 2024 (FY24), Pristyn Care’s operating revenue grew by 32.7% to Rs 601 crore from Rs 453 crore in FY23. In FY25, the company claims to have reduced its EBITDA burn by 60% year-over-year. In December 2021, the company secured $96 million from Peak XV Partners and Tiger Global to attain unicorn status.

Pristyn Care scales to 8 hospitals in 4 months

EntrackrEntrackr · 1m ago
Pristyn Care scales to 8 hospitals in 4 months
Medial

Pristyn Care has ramped up its hospital expansion strategy with the launch of three new digitally integrated hospitals in Gurgaon, Hyderabad, and Kochi, bringing its total number of owned facilities to eight, just four months after opening its first. This move also marks the startup’s entry into South India. Pristyn Care now operates a clinical footprint of 200,000 sq ft, comprising 400 beds, more than 20 modular operating theatres, over 50 ICU beds, and a team of over 550 medical professionals. The latest launch follows the company’s earlier announcement in February 2025, when it unveiled its first five hospitals within a span of just 75 days. That rapid rollout, focused around Delhi-NCR, was a significant pivot from Pristyn’s earlier asset-light model of partnering with hospitals to offering in-house surgical care. Now, with the addition of 90,000 sq ft across three cities, Pristyn is doubling down on its promise of accessible, seamless healthcare. Each new facility is being integrated with the company’s proprietary digital platform, which includes real-time clinical alerts, EMRs, express discharge tooling, and one-tap insurance approvals. “We are not starting from scratch; the technology is built and live. Our next task is to stitch it into each new hospital so patients experience shorter waits, clearer communication, and truly joined-up care," said Dr. Vaibhav Kapoor, Co-founder of Pristyn Care. Pristyn Care’s new hospitals bring tailored services to each city, Gurgaon boosts neonatal and women’s health; Hyderabad offers 24x7 trauma care and tech-led joint replacements; and Kochi adds emergency care with a riverside rehab wing for Kerala patients. Notably, Pristyn Care’s first hospital in Delhi hit double-digit profitability within eight weeks. With the strong performance metrics, the company is now targeting 50 hospitals by FY28, with upcoming launches in Mumbai, Bengaluru, and Pune.

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