INDIA – Pristyn Care, a health-tech startup specialising in secondary-care surgeries that reached unicorn status in 2021, has announced its plans to launch into new markets outside India.
In a press release, Pristyn Care said that it is expanding into in-vitro fertilization (IVF), ophthalmology, urology, and hair transplant divisions.
“Starting with the South Asian markets, the unicorn is currently identifying the gaps and system requirements in health care similar to India, where the company can step in,” the startup disclosed.
The digital health unicorn plans to expand its existing network of over 800 fully-operative secondary surgery care centres and enter into primary care via digital and online consultation services.
Started by Singh, Dr. Vaibhav Kapoor, and Dr. Garima Sawhney in August 2018, Pristyn Care performs advanced secondary care surgeries with the help of its network of more than 800 hospitals and more than 400 in-house super-specialty surgeons.
“We are cautiously optimistic to hit the US$120,823,300 (Rs 1,000 crore) revenue mark in the coming financial year. We have doubled our revenue as compared to last year with better margins and stronger unit economics,” stated Dr. Vaibhav Kapoor, Co-founder at Pristyn Care.
He explained that the company is running multiple pilots concurrently as part of its market penetration strategy.
“We are identifying the existing technology gap, the need for advanced treatments, and what is required in target markets, which will define the progress made over the next couple of months,” noted Dr. Kapoor.
He pointed out that the Pristyn Care teams are looking for countries with similar healthcare infrastructure in South Asia, noting that they have identified the apparent gaps in the healthcare system.
Pristyn Care teams observed that small hospitals were underutilised due to a lack of patient trust. The common gaps in care included poor quality health care, low compliance to vital safety protocols, and poor staffing.
“Small hospitals might not have access to the latest and most advanced equipment and technology which might be there in a corporate hospital,” observed Dr. Kapoor.
To address gaps in care, Pristyn Care has partnered with over 450 hospitals across India to carry out surgeries including Moolchand Hospital, MedHarbour Hospital, Mayom Hospital, Apollo Hospitals, and Manipal Hospital to name a few.
Pristyn Care acquired the doctor consultation platform Lybrate to foray into primary care and strengthen its delivery service, giving it a competitive edge in providing online consultation services.
The acquisition places Pristyn Care amongst the largest healthcare provider networks in India in line with its commitment to delivering profitable businesses powered by advanced medical treatments for secondary care to patients.
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