Pristyn Care, a prominent healthcare provider in India specializing in secondary care surgeries, has released its audited financials for FY 2023-24, revealing impressive performance metrics. The company recorded a consolidated revenue of ₹632 crore, representing a 28% year-on-year growth, and made strides in operational efficiency with significant cost reductions.
Key Financial Highlights
- Revenue Growth: ₹632 crore in consolidated revenue, a 28% increase compared to FY 2022-23.
- EBITDA Burn Reduction: A substantial 42% reduction in the EBITDA burn for its core Secondary Care surgeries segment.
- Organic Patient Traffic: Organic patient traffic surged from under 40% to nearly 60%, enabling a 60% reduction in marketing expenses.
Strategic Outlook for FY 2024-25
Pristyn Care is poised for continued growth in the upcoming fiscal year, projecting a 35% revenue increase and an additional 60%+ reduction in EBITDA burn. These measures align with the company’s ambitious plan to achieve profitability by FY 2026 and gear up for an IPO by FY 2028.
Driving Forces Behind Growth
Pristyn Care’s performance is bolstered by:
- Investment in Advanced Medical Technology: Enhancing the quality and market share of high-value surgeries.
- Streamlined Insurance Processes: Improved partnerships with insurers have simplified pre- and post-authorization, enhancing patient satisfaction.
- Operational Efficiency: Focused initiatives to optimize patient traffic and reduce dependency on high-cost marketing channels.
Leadership Insights
Commenting on the results, Harsimarbir Singh, Co-founder of Pristyn Care, stated:
“Our strong financial performance in FY 24 reflects the trust our patients place in us and the relentless dedication of our team. As we focus on achieving profitability by FY 26 and preparing for an IPO by FY 28, we are committed to transforming healthcare delivery in India through innovation, efficiency, and patient-centric care.”
Expanding Footprint and Patient-Centric Approach
Pristyn Care currently operates in over 30 cities with a network of 100 clinics and partners with 200 hospitals. The company continues to redefine secondary care surgeries in India, providing minimally invasive procedures across a wide range of specialties, including proctology, urology, ENT, and gynecology.
Future Outlook
With its patient-centric model, focus on cutting-edge medical technology, and streamlined operations, Pristyn Care is on a path to redefine secondary healthcare delivery in India. Its ambitious goals for profitability and future IPO underline its commitment to sustainable growth and innovation in healthcare.
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