Now Reading: Pristyn Care drops two bets, refocuses on own hospitals
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Pristyn Care drops two bets, refocuses on own hospitals
Pristyn Care is demerging consumer brand BeatXP and scaling back medical-supplies venture MedX as it shifts resources towards its own hospital network, the company has confirmed. The health-tech startup backed by Peak…
Pristyn Care is demerging consumer brand BeatXP and scaling back medical-supplies venture MedX as it shifts resources towards its own hospital network, the company has confirmed. The health-tech startup backed by Peak XV Partners and Tiger Global is repositioning BeatXP as a sports footwear and athleisure brand, retreating from earlier products such as massagers and smartwatches.
Revenue from BeatXP fell to around ₹20-25 crore in FY25 from nearly ₹200 crore in FY24, co-founder Vaibhav Kapoor said. The company will limit further investment in the vertical to $2 million over two years, having previously put in about $10-12 million. MedX, which bought bulk medical consumables, contributed negligible revenue.
Pristyn currently runs nine hospitals, contributing 35% of revenue, and plans to add ten more in 12-18 months. It is finalising a ₹180 crore investment from Spec Finance. The company's consolidated revenue dropped to ₹442 crore in FY25 from ₹600 crore a year earlier, while its loss narrowed to ₹168 crore from ₹381 crore.
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Pristyn Care's restructuring reflects a broader trend among health-tech startups that expanded rapidly during the pandemic and are now retrenching to core operations. The company was valued at $1.4 billion in 2021 but its revenue has fallen sharply, and it has trimmed cash burn to about $1 million a month. Demerging BeatXP and scaling back MedX allow Pristyn to conserve capital for its hospital network, where margins are better understood. The ₹180 crore investment from Spec Finance suggests external backers still see value in the hospital model. The next milestone is the planned addition of ten hospitals over 12-18 months, which will test whether the capital-light partner model can be replaced by owned facilities without dragging down cash flows.
Source: livemint.com
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