Sequoia-backed healthcare platform Pristyn Care raises $12 million Series B

Gurugram headquartered multispeciality clinic chain for elective surgeries, Pristyn Care, has raised $12 million in a Series B round from Hummingbird Ventures, Greenoaks Capital, AngelList and returning investor Sequoia Capital India. 

The company will utilise the capital for expansion.

Owned and operated by GHV Advanced Care, the year-old company had previously raised $4 million from Sequoia in June in its Series A round. 

Pristyn Care claims to offer hassle-free surgical experience from doctor’s consultation, hospital admission, pre-and-post surgical follow-ups, insurance claim processing and reimbursements. The chain has a presence across 14 cities with a network of over 70 clinics and 250 partner hospitals according to a statement. 

The platform says it offers advanced surgical procedures at a fraction of the cost of corporate hospitals.

“We have invested in building strong operational capability to extend advanced surgical care not only to patients in metros but also to smaller cities such as Bhopal, Chandigarh and Patna. With our asset light and technology enabled approach, we are able to bring down the cost of advance surgeries by almost 30-40%, compared to larger corporate hospitals,”  said Harsimarbir Singh, co-founder of Pristyn Care in the statement.

Singh, a former Mobikwik executive founded the company in July 2018 with Dr Vaibhav Kapoor and Dr Garima Sawhney. The platform, which offers general surgeries, ENT, urology, gynaecology, vascular and cosmetic surgeries, claims to have handled over 10,000 surgeries so far.

“In the past year of our partnership, Pristyn has delivered a great patient experience while growing the business aggressively with strong economics. Healthcare delivery in India is a large yet fragmented market where Pristyn is operating with a scalable model with good economics,” said Ashish Agrawal, principal at Sequoia.

Speciality healthcare services platforms that work on an asset-light model have seen interest from early-stage investors. In November, healthcare platform BeYouPlus raised $3.5 million led by IvyCap Ventures. 

Health tech platform Meddo, which helps in the discovery of doctor-run clinics and standardisation of services, had raised $3 million in September from a group of investors including SRI Capital.