Pristyn Care's owned-hospital bet: 8 hospitals by June 2025, 50 planned before FY28 IPO

Pristyn Care's bet was that elective surgery in India could be sold like a service — predictable, minimally invasive, digitally booked and cashless — without owning hospitals. Founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney, the platform matched patients with surgeons across 50+ partner cities and claims over 2 million patients and 1.5 lakh surgeries. Revenue grew from ₹452.89 Cr (FY23) to ₹600.52 Cr (FY24), but losses stayed near ₹381 Cr, and in March 2024 it cut 120 jobs while targeting profitability.

In February 2025 Pristyn changed the model. It opened its first owned super-speciality hospital in New Delhi and declared the transformation from an asset-light startup to one that owns and operates its own hospitals, with plans for 50 hospitals across 25 cities in three years, about 3,500 additional healthcare staff and more than 750 collaborating surgeons. The bet was that owning the physical facility — not just coordinating partners — would let the company control clinical quality, patient experience and economics.

Early results supported the pivot: the first Delhi hospital reportedly hit double-digit margins within eight weeks, and in June 2025 Pristyn inaugurated three hospitals at once in Gurgaon, Hyderabad and Kochi, lifting its owned network to eight hospitals across 200,000 sq ft, with 400 beds, 20+ modular operating theatres and 50+ ICU beds. Each facility runs on a shared digital backbone of electronic medical records, real-time protocol alerts, one-tap cashless insurance approvals, 45-minute automated labs and express discharge.

By August 2026 the company operated nine owned hospitals contributing roughly 35% of total revenue, planned 19–20 facilities within 12–18 months, and was restructuring the rest of the business around them — demerging its consumer wearables brand BeatXP and scaling back the MedX medical-supplies unit. It was also finalizing a ₹180 Cr investment from GIFT City-based Spec Finance, with an IPO targeted around FY28. FY25 consolidated revenue was reported at about ₹442 Cr with losses narrowed to ₹168 Cr from ₹381 Cr the prior year.