Pristyn Care Raises $53 Mn In Series D Funding, Valued At $550 Mn The raised capital will be invested in expanding new surgery specialties with better patient care practices, advancing medical technology and minimally invasive surgeries, and going deeper in geographical spread and brand building
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Healthcare startup Pristyn Care specializing in surgeries announced on Tuesday that it has raised $53 million in a Series D round of funding led by the US investment fund Tiger Global Management.
Post this funding, Pristyn Care's valuation rose to over $550 million, more than doubling from the $250 million it had been valued at six months ago. In the funding round, Tiger Global is joined by Pristyn Care's existing investors Sequoia Capital, Hummingbird Ventures, and Epiq Capital.
The raised fund will enable Pristyn Care to continue providing best-in-class support and services for its fast–growing surgery patients. In addition, the brand will scale up investment to advance its offering in medical technology and offer all kinds of minimally invasive procedures while expanding the India footprint.
"We welcome Tiger Global in our new investment round. This trust alongside participation from existing investors Sequoia Capital, Hummingbird Ventures and Epiq Capital, firms the vision of Pristyn Care. Our laser-sharp focus on scaling our surgery offerings and providing seamless patient experience in India has enabled us to have helped treat more than half a million patients in the past 2.5 years. With this new capital, we plan to expand our surgery offerings in more cities and towns and attract international patients seeking treatment in India, treat new disease lines, and invest in brand building. We run over 100 clinics and operate in over 400 hospitals to impart patient-first care for our surgery patients," said Harsimarbir Singh, co-founder, Pristyn Care.
Since its inception in 2018, Pristyn Care has expanded its team to include more than 300 expert surgeons with experience of over 300,000 surgeries between them. It currently performs surgeries for over 50 diseases using advanced medical technology. It currently operates in over 30 cities and towns of India.
"By using technology to deliver differentiated experiences and outcomes, Pristyn Care has built the leading consumer-centric surgery provider in India. The market opportunity is huge, and we couldn't be more excited to partner with Harsimarbir (Harsh) and his team," remarked Scott Shleifer, partner, Tiger Global Management.
Under its patient-first approach for all its surgery patients, Pristyn Care provides end-to-end patient-first support services such as diagnostics support, complete health-insurance claim processing, hospital admission paperwork from the comfort of home, cab pick-up and drop for surgery, medicine delivery at home, and free post-surgery consultation, the company shared.
"With this round, we will invest in newer medical technologies to provide world-class treatment and experience to our surgery patients. We will also increase treatments for newer disease lines and get more people to access to top-quality medical care across the nation. Our more than 300 Super Specialist Surgeons come with a wealth of experience having operated on the most complex cases. Right from metro to smaller towns we are committed to hiring only the best Doctors to come to join Pristyn Care," added Dr. Vaibhav Kapoor, co-founder, Pristyn Care.
In a short span of two and half years, the company has raised $28 million with investments from its valuable investors such as Sequoia Capital, Hummingbird, GreenOaks, Epiq Capital, and Angel List.
