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PB Healthcare Services, formerly a wholly-owned subsidiary of PB Fintech Limited, has raised $218 million as part of the first tranche of its seed round, led by General Catalyst. PB Fintech Limited also participated in the round, along with other external investors.
PB Fintech has invested $62 million, General Catalyst put in $50 million, and the remaining $106 million came from institutional investors and individuals.
The investment will be used to establish PB Health’s initial hospital network in the Delhi NCR region and to accelerate product development and technological innovation, the company said in a press release.
PB Health is creating a healthcare platform that combines care and insurance. It runs its own hospitals and uses technology, data, and a focus on prevention to improve health outcomes, avoid surgeries, and provide patients with a full-stack experience.
PB Healthcare plans to build a 1,000-bed hospital network in Delhi NCR and expand gradually. By removing pre-authorizations and simplifying claims, it aims to build trust between patients, insurers, and healthcare providers.
Over the next 12 months, it aims to have 4–5 operational hospitals with 600–800 beds.
As per the latest regulatory filings, PB Fintech’s stake in PB Healthcare Services dropped from 100% to 32.14% following the participation of external investors in the seed round.
In a recent interview with CNBC TV18, Yashish Dahiya, Chairman and Group CEO of PB Fintech, said he had proposed that PB Fintech retain an 11% stake in PB Healthcare, but the board saw potential and opted for a 26% stake.
The development comes ahead of PB Fintech’s Q4 FY25 results. In Q3, the company’s revenue increased to Rs 1,292 crore, compared to Rs 871 crore during Q3 FY24. During the period, its profit surged 94.6% to Rs 72 crore.
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