The company is laying the groundwork for an initial public offering within the next three years. Credit: mapo_japan / Shutterstock.

Healthcare company Pristyn Care is currently in preliminary talks to secure funding between $50m to $100m, as reported by Livemint, citing sources.

The round is expected to be finalised in the first half of this year, with the capital being earmarked for the company’s expansion efforts.

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Moreover, within the next three years, the company is laying the groundwork for an initial public offering (IPO), having already been involved with bankers and initiated conversations with global investors, among others.

Founded in 2018 by Harsimarbir Singh, Dr Garima Sawhney and Dr Vaibhav Kapoor, Pristyn Care has established a presence in India’s healthcare sector.

Across 30 cities, it operates a network of more than 200 clinics and 700 hospitals, supported by more than 400 in-house super-speciality surgeons.

The company’s expansion has not been without its challenges, as it underwent a restructuring process in March, which led to the layoff of 120 employees, Inc42 reported.

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This followed a larger round of layoffs in 2023, affecting 300-350 staff members.

Pristyn Care’s international footprint began to take shape in 2022 with the launch of operations in Bangladesh, marking its first venture outside of India.

To date, the company has successfully raised $177m across several funding rounds.

The company achieved unicorn status in 2021 after raising $96m in a Series E round, which valued it at $1.4bn.

The round saw participation from investors, including Tiger Global, Peak XV Partners, Epiq Capital, Winter Capital, and Hummingbird Ventures.

For the financial year ending in March 2024, Pristyn Care reported an operating revenue of Rs6.01bn, a significant increase from the Rs4.53bn reported the previous year.