HealthTech

Startups are pivoting from disrupting hospitals to running them

Anuj Suvarna

May 13, 2025 | 10 Min Read

Far from the digital disruption they once promised, startups like Pristyn Care, Even, and PB Healthcare are leaning into the brick-and-mortar business of hospitals—where profits, trust, and control still live.

Key Takeaways

The likes of Pristyn, PB Fintech, and Even are launching new-age hospitals with integrated tech, aiming to control the full stack of care and regain investor confidence

The hospital sector offers what digital health never could—dependable profits, trusted distribution, and alignment with private equity metrics like bed utilisation and capex efficiency

PE firms are already deeply embedded in Indian hospitals, having backed everything from regional chains to dialysis networks

But the risks are steep—shortage of clinical talent, public market scepticism, and high compliance burdens mean startups must embrace operational rigour

In February, PeakXV- and Tiger Global-backed Pristyn Care did a complete 180. The Gurugram-headquartered unicorn, which began as an asset-light platform connecting patients to surgical centres, launched five super-speciality hospitals across the Delhi-National Capital Region (Delhi-NCR).

All within a span of just 75 days.

Pristyn’s new facilities came equipped with modular operating theatres, tech-enabled intake and discharge protocols, and Neonatal Intensive Care Units (NICU). Pristyn appears to be betting the house on hospitals—it wants to launch 50 across 25 cities within the next three years.

Pristyn isn’t the only startup entering the brick-and-mortar world of hospitals. Doctor consultation platform Even Healthcare and PolicyBazaar parent PB Fintech, through its newly-incorporated subsidiary PB Healthcare, are venturing into the space as well. The former is taking a narrower approach, with its first hospital in Bengaluru set to focus on high-frequency procedures and secondary care. Last year, Even raised $30 million from Alpha Wave, Khosla Ventures, Lachy Groom, and Founders Fund to support the venture.

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