Pristyn Care, the Gurugram-based surgery-focused healthcare chain, has raised $4 million (~₹33.8 crore) in fresh capital to support its expanding network of owned hospitals. The funding is part of a larger round in the works, according to internal company documents and sources cited.
Regulatory filings reviewed confirm that the company’s board approved the allotment of 34,280 Series E1 compulsorily convertible preference shares (CCPS) at an issue price of ₹10,038.16 apiece to raise the amount. The investment has been backed by existing investors Peak XV Partners and Hummingbird Ventures.
The transaction values Pristyn Care at the same level as its previous round, indicating a flat valuation. To accommodate upcoming fundraises, the company has also increased its authorised capital, signalling its intention to further scale operations.
Hospital Footprint and Expansion Plans
Over the past four months, Pristyn Care has launched eight new hospitals, expanding its owned infrastructure to approximately 200,000 sq. ft. with around 450 beds. The company aims to double its capacity by December 2025, with over 10 additional hospitals in the pipeline.
This strategic shift from asset-light models to owned facilities marks a significant evolution in Pristyn’s business model, aimed at improving service delivery, margin control, and long-term sustainability.
Preparing for a Larger Capital Raise
While the $4 Mn raise is a small part of a broader effort, the company is reportedly in talks to secure up to $100 million from a mix of new and existing backers. To date, Pristyn Care has raised approximately $180 million from investors including Tiger Global, Peak XV Partners, Hummingbird Ventures, and Epiq Capital, as per startup data platform TheKredible.
Financial Snapshot
For the fiscal year ending March 2024, Pristyn Care recorded operating revenue of ₹600 crore, reflecting a 30% year-on-year growth. However, losses remained flat at ₹381 crore, underscoring the capital-intensive nature of its hospital expansion strategy.
As Pristyn Care doubles down on building its physical infrastructure and deepens investor engagement, the next few quarters are expected to be pivotal in shaping its future growth trajectory and potential pathway to profitability.
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