Pristyn Care is a healthcare firm that provides an online booking platform for appointments with medical experts. This startup announced a 32.7 percent increase in its operating revenue to Rs 601 crore in FY24. The firm uses advanced technologies on its online platform for online consultation services. The startup also allows patients to connect with healthcare experts for consultation regarding medical treatment. The income from the sale of medical services and healthcare products is the company’s primary source of revenue.
The startup also earns its income from medical devices and non-operating activities which stood at Rs 31 crore. The income from healthcare services was around Rs 332 crore in FY24, accounting for 55.24 percent of the overall revenue. This income increased the total revenue to Rs 632 crore in this financial year. The online app-based platform follows a hybrid model while setting up its own clinics and using third-party hospital infra for surgeries. The mobile application allows users to track surgery details and appointments.
Pristyn Care has raised around $181 million across multiple funding rounds since its inception, including $100 million secured during its series E funding round from Tiger Global Management, Epiq Capital Advisors, and other investors. After this funding round the company’s post-money valuation crossed 1.38 billion USD, achieving unicorn status. The company’s investors include Peak XV partners, Tiger Global Management, Hummingbird Ventures, and Epiq Capital. The online platform uses advanced technologies to provide a seamless user experience.
The company claims to offer its services in over 40 cities while treating patients in its 350 partner hospitals and managing 100 clinics. This healthcare platform enables patients to get medical advice from experts. The cost of procurement of medical devices increased to Rs 264 core in FY24. This cost accounted for 26 percent of the total expenses. The advertisement cost decreased by 21 percent to Rs 183 crore in FY24. The legal, travel, surgery, doctor fees, and other expenses increased the total cost by 15.6 percent to Rs 1,014 crore in the same duration.
The Gurugram-based startup is focused on improving its platform while offering innovative healthcare solutions and positioning itself well in the healthcare market. The employee benefit decreased by 3.5 percent to Rs 192 crore in FY24. However, the company reduced its workforce by 7 percent to remain profitable for its initial public offering. The EBITDA margin stood at -54.59 percent while the ROCE was around -114.15 percent in the same period. The company faces competition with other online healthcare platforms such as First Cure and Mykare Health.
Conclusion :
Pristyn Care announced a 32.7 percent increase in its revenue from operations to Rs 601 crore in FY24. This healthcare firm offers an online platform for booking medical appointments. The sale of medical and healthcare-related services is the company’s major source of revenue. The healthcare platform reported around a 0.5 percent decrease in its loss to Rs 381 crore in FY24. The firm’s total expenditure increased by 15.6 percent and crossed Rs 1,014 crore in the same duration. Pristyn Care competes with other healthcare companies like First Cure.
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