PB Health, a healthcare enterprise backed by its parent company Policybazaar, PB Fintech, intends to establish a network of 150 hospitals across more than 50 cities within the next five to six years. This was announced by Group Chairman and CEO Yashish Dahiya during a phone interview with Business Standard. The plan involves creating infrastructure with a total capacity ranging from 15,000 to 20,000 beds.
The company aims to expand beyond the National Capital Region (NCR) and enter the markets of second and third-tier cities. Currently, the company operates two hospitals in Gurugram and Noida, and it plans to increase this number to four by March 2027.
Development and Asset Acquisition Strategy
Dahiya noted that the company's initial strategy was focused on building and owning its own hospitals. However, the expansion plans include both greenfield construction of new facilities and brownfield acquisitions of existing ones.
After completing the first ten hospitals, the company's focus will shift from new construction to Operations & Maintenance (O&M). The company also has the option to acquire existing hospitals, land parcels, buildings, and equipment, as well as modernize premises or replace outdated equipment when necessary.
PB Health also plans to raise approximately 10,000 crore rupees to finance its expansion, with the financing structure remaining flexible, and the company is considering increasing the proportion of debt.
Dahiya specified that about 2,000 crore rupees of target capital has already been raised through seed funding, and another approximately 4,000 crore rupees is expected to be raised in the current fiscal year. Furthermore, a subsequent funding round is in an advanced stage.
The company expects to achieve revenues of around 500 crore rupees by the end of the 2026-27 fiscal year (FY27) and aims to reach the break-even point by March.
Currently, PB Fintech holds approximately 25-26 percent of PB Health, with the remaining stake belonging to institutional investors. Although no timeline has been set, the company may consider an Initial Public Offering (IPO) in five to six years.
The expansion strategy is closely linked to the customer base of the insurance company Policybazaar. Since about 17 percent of customers are located in the NCR, this region served as the starting point for the PB Health hospital network. The company intends to leverage its relationships with health insurance providers outside its own customer base.
Dahiya added that they will utilize the entire national health insurance market and act as a reliable partner for all participating institutions.
For existing facilities, the company has already hired doctors from major hospitals and medical networks. Additionally, the enterprise plans to integrate technology and preventive medicine into its operational model. Doctors will use voice documentation, and AI tools will convert conversations into structured information for physicians; however, he emphasized that the technology will serve as an auxiliary tool, not a replacement for clinical decision-making.
As part of the strategy to reduce hospitalizations and manage chronic diseases, PB Health acquired the preventive medicine platform Fitterfly. The goal is to identify at-risk patients, including those with diabetes or heart conditions, and intervene before they require inpatient treatment.