Even Healthcare raises $50m Series B to expand its hospital network
Khosla Ventures led the equity round, with Alpha Wave also investing, as Even plans five more hospitals in Bengaluru.
Even Healthcare has raised $50 million in an all-equity Series B led by Khosla Ventures, with participation from Alpha Wave. The financing values the Indian healthcare company at $300 million and brings its total capital raised to more than $120 million.
Even plans to open five additional hospitals in Bengaluru over the next six months. It leases hospital buildings on long-term agreements and invests in fit-outs and medical equipment, using the new funding to expand a network that already includes two hospitals in the city.
The company pays doctors fixed salaries rather than linking compensation to the volume of tests or procedures; it also offers bonuses based on patient-reported clinical outcomes. The model extends its earlier coordinated-care approach into hospitals it operates itself.
Use of funds
Open five additional hospitals in Bengaluru over six months.