PB Fintech’s healthcare arm completes first hospital deal, targets 50 more – CNBC TV18

PB Fintech goals to launch its healthcare enterprise with 4 to 5 hospitals over the following yr. The first acquisition was accomplished on April 30 and is anticipated so as to add 200 beds.

As soon as the preliminary hospitals are operational, the main focus will shift to the following section of enlargement, focusing on an extra 25 to 50 hospitals, in keeping with Chairman and Group CEO Yashish Dahiya.

PB Healthcare Providers, a subsidiary of PB Fintech that goals to create a streamlined, insurance coverage-linked healthcare community in India, has raised $218 million (₹1,848 crore) in its first main fairness funding spherical.

The spherical was led by US-primarily based enterprise capital agency Basic Catalyst, with participation from different traders and PB Fintech itself.

PB Fintech will retain a 26% stake in PB Healthcare Providers

, whereas Basic Catalyst is anticipated to carry round 20% following the most recent funding spherical

Neeraj Arora, Managing Director at Basic Catalyst, highlighted the shift in strategy PB Healthcare intends to deliver. He mentioned that whereas healthcare in India has historically been reactive, the purpose of partnering with PB Healthcare is to ship inexpensive and proactive healthcare and insurance coverage companies to the center class.

Dahiya additionally identified that the enterprise continues to be tech-heavy at this stage. “I’ve more tech sources than hospital sources as we speak,” he mentioned, explaining that the imaginative and prescient is to supply a single app expertise for households—from buying insurance coverage to say settlement—eliminating the traditional billing or declare course of by integrating every thing into one platform.

PB Fintech’s present market capitalisation is ₹75,283 crore. The inventory is presently buying and selling at ₹1,634.90 as of 9:29 am on the NSE and has gained 31% over the past yr.

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