Pristyn Care IPO

Summary*

Pristyn Care, a healthtech unicorn founded in 2018, operates a healthcare delivery marketplace for elective surgeries in India. The company recently announced a restructuring initiative that includes laying off 120 employees, primarily in entry-level and support functions, as it aims for profitability and a potential initial public offering (IPO) in the coming years.

The Gurgaon-based startup has streamlined its operations by exiting six underperforming cities and discontinuing three redundant categories to focus on 20 larger, more profitable offerings. Pristyn Care's consolidated total income grew to ₹494 crore in FY23 from ₹339 crore in the previous fiscal year. The company is targeting revenue of around ₹900 crore for the current fiscal year while aiming to reduce its EBITDA loss by 50%.

As part of its restructuring efforts, Pristyn Care is providing severance packages and extended medical insurance coverage for affected employees and their families. The company has raised $177 million across multiple funding rounds to date and currently operates a network of over 200 clinics and 700 hospitals across 30 cities in India.

Reports suggest that Pristyn Care is eyeing profitability in FY25 before potentially going public in 2027. However, the company has not officially confirmed these timelines. The healthtech sector in India has seen growing investor interest, and Pristyn Care's moves towards operational efficiency and profitability could position it favorably for a future IPO, subject to market conditions and regulatory approvals.

How to invest in Pristyn Care

While Pristyn Care's IPO prospects remain uncertain, investors eager to gain exposure to innovative healthcare companies don't have to wait. At Linqto, we offer members access to interests in pre-IPO private companies, including potential leaders in the healthcare and technology sectors. Our platform allows you to diversify your portfolio with lower minimum investments in emerging industry leaders, potentially benefiting from their growth before they go public.

Sources

*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.