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Policybazaar owner PB Fintech said on Thursday that its new healthcare venture, PB Healthcare Services, had raised $218 million (about Rs 1,848 crore) in its first major equity funding round.
PB Fintech put in around Rs 539 crore ($62 million). General Catalyst invested $50 million, and the unnamed investor added a similar amount, according to PB Fintech Group CEO Yashish Dahiya.
PB Health plans to use the funds to build 5 to 6 hospitals in the National Capital Region (NCR), each with 200–250 beds, as part of its first phase. “In a year, we might have 25 to 50 hospitals, mainly with 100 beds each,” said Dahiya.
PB Fintech holds a 26% stake in PB Health and has appointed key leaders to help start the new venture.
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Even though PB Fintech is involved for now, Dahiya sees PB Health growing on its own in the future, with PB Fintech just supporting it in the early stages.
“We are primarily an investor in PB Health. While we do have a business interest in supporting this initiative, we have also deployed some key executives from PB Fintech to help shape and drive the venture,” Dahiya said.
Dahiya said PB Health will focus on weight loss, diabetes care, early cancer detection, and heart disease.
When the healthcare forey plan was first announced in September 2024, PB Fintech’s shares fell by nearly 10%. But on Wednesday, they rose 3% to Rs 1,636.40, doing better than the BSE Sensex, which went up just over 0.1%.
The new healthcare venture aims to create a complete platform that connects healthcare and insurance. Its goal is to improve long-term health, avoid unnecessary surgeries, and give patients a smooth, all-in-one experience.
A mobile app is also being developed, which will let users book check-ups, consult doctors, get treatments, and schedule surgeries at PB Health hospitals.
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