INDIA – Healthcare provider Pristyn Care has acquired doctor consultation platform Lybrate to foray into primary care and strengthen its delivery service, the Tiger Global-backed startup said June 7.
After this acquisition, both companies would work towards combining their business operations in the coming days, the Gurugram-based unicorn said in a statement.
The acquisition places Pristyn Care amongst the largest healthcare provider networks in India.
Additionally, it would accelerate the expansion plans of the healthcare provider as it goes beyond its existing network of over 800 fully-operative secondary surgery care centres and enters primary care via digital and online consultation services
“Given the increasing demand for online health services, Lybrate makes a compelling strategic fit to give access to primary care to our patients via online consultation services,” Pristyn Care co-founder Harsimarbir Singh said.
“We truly believe there is a significant appetite for innovation and growth in healthcare, and similar acquisitions will help consolidate, scale and grow healthcare delivery assets.”
Lybrate’s 150 employees would be absorbed into Pristyn Care, the company said. Tiger Global is a common investor in both startups.
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.
The startup says its surgeons use the latest advanced medical technology such as laser, laparoscopy, microdebriders, and Lasik to treat over 50 diseases across more than 200 clinics in 42 cities.
Pristyn raised US$96 million in a Series E round co-led by Sequoia Capital and Tiger Global in December 2021 to enter India’s unicorn club.
The company also counts Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital among its investors.
Lybrate is an online doctor consultation platform that helps patients connect to more than 300,000 certified doctors from across the country through their mobile phone, or laptops via chat, video, and audio call.
Apart from Tiger Global, it also counts Ratan Tata, and Nexus Venture Partners among its investors.
“Pristyn Care’s attributes resonate strongly with Lybrate, and given the nature of its business strongly complementing our offerings, it should allow building upon the strengths of each other,” Lybrate founder Saurabh Arora said.
With Pristyn Care’s focus on secondary healthcare and Lybrate’s robust network of large numbers of primary care doctors, the two could achieve tremendous synergies, he said.
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