Sequoia India is already an investor within the firm.
If the newest funding spherical goes by means of, the healthcare startup will see its valuation double in six months after
it raised $53 million from traders led by Tiger International valuing it at $550 million in April this yr.
Pristyn Care, cofounded by Harsimarbir Singh together with medical doctors Vaibhav Kapoor and Garima Sawhney, differentiates itself from hospital chains by offering end-to-end providers reminiscent of diagnostics assist, processing of medical health insurance claims, hospital paperwork, cab pick-up and drop for surgical procedure, drugs supply at dwelling and free post-surgery session. It runs greater than 150 clinics with over 700 companion hospitals and homes 200 in-house tremendous speciality surgeons for proctology, urology, gynaecology, vascular, laser, and laparoscopic surgical procedures.
“The Sequoia US crew is investing this time. There shall be one other fund or funds that may additionally get finalised in a few week’s time,” mentioned an individual with data of the corporate’s plans. One other supply within the know mentioned that Tiger International can be writing a big cheque, indicating that it desires to take care of its shareholding within the firm.
Spokespersons for Pristyn Care and Tiger International declined to remark.
A spokesperson for Sequoia US didn’t reply to ET’s request for a remark.
Pristyn operates in additional than 40 cities together with the Nationwide Capital Area, Hyderabad, Bengaluru, Chennai, Kolkata and Mumbai. Moreover surgical procedures, the healthcare platform focuses on physician consultations, hospital admissions and pre-as nicely as post-surgical follow-ups.
After the Covid-19 pandemic and resultant lockdowns hit healthcare companies exhausting, Pristyn took to telemedicine and on-line session and reopened its surgical procedure vertical from June this yr.
In its April information launch saying the funding from Tiger International, the corporate had mentioned it has plans to utilise the funds to increase into new surgical procedure specialties, advancing medical expertise and minimally invasive surgical procedures, and going deeper in geographical unfold and model constructing.
“The most important factor we’re bullish on right this moment is investing in software program,” Singh had mentioned then. “We’re launching EMR (digital medical document) service just for our clinics the place it turns into utterly paperless.” The corporate performed 20,000 surgical procedures in 2020 and plans to quadruple the quantity this yr, it had mentioned in April.
Healthtech firms have seen an unprecedented development in enterprise traction because of the pandemic. Within the latest previous startups like MFine, Go to, ConnectedH, HealthPlix, mHealth have acquired funding from danger traders.