7 months ago
Even Healthcare Secures $20M Funding, Achieves Break-Even
Even Healthcare, a company that runs hospitals, just got $20 million from investors to help them grow.
They also made a big deal because their first hospital started making enough money to cover its costs in less than six months, which is really fast compared to other hospitals.
They do things differently by focusing on keeping people healthy and out of the hospital as much as possible.
Their investors are happy because the company is making money while also helping patients get better faster.
They shared some good news too, like having no patients come back to the hospital unexpectedly after surgery and helping over 200 people recover at home instead of staying in the hospital.
Even Healthcare raised $20 million in funding to expand its managed-care hospital network in Bengaluru.
The company's first hospital achieved operating break-even in less than six months, significantly faster than the industry average.
The funding round was led by existing investors Lachy Groom and Alpha Wave, with participation from new investor Sharrp Ventures.
Even Healthcare's total funding has reached $70 million, with its valuation more than doubling over the past year.
The company reported zero unplanned 30-day readmissions across more than 350 surgeries and no post-operative infections in its tracked cohort.
- Who
- Even Healthcare, a Bengaluru-based healthcare startup
- What
- Secured $20 million in funding and achieved operating break-even in less than six months
- Where
- Bengaluru, India
- When
- Funding announced on Monday, break-even achieved in under six months
- Why
- To expand its managed-care hospital network and strengthen its model focused on patient recovery and outcomes
Key facts
- Funding Amount
- $20 million
- Total Funding
- $70 million
- Break-Even Time
- Less than six months
- Industry Average Break-Even
- 2 to 3 years
- Investors
- Lachy Groom, Alpha Wave, Sharrp Ventures
- Hospital Location
- Bengaluru
- Unplanned 30-Day Readmissions
- 0 across 350+ surgeries
- Post-Operative Infections
- 0 in tracked cohort
- Avoided Hospitalisations
- 200+ through at-home recovery
- Average Hospital Stay Reduction
- 40% shorter than comparable settings
Quotes
Mayank Banerjee
Co-founder of Even Healthcare
“We care about patient experience a lot more than we care about revenue growth. If you concentrate on patient experience, more people will come, more people will become members, and revenue growth will take care of itself.”
CNBC TV 18
“It is across all four areas—to build out our hospitals, invest in preventive care and our clinical team, as well as the tech layer that enables everything to work.”
CNBC TV 18
