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PB Healthcare raises $218-M from General Catalyst, Faering Capital, Bay Capital, others

Economic Times  

Gurugram-based PB Healthcare, the healthcare business incubated by insurance aggregator Policybazaar’s parent PB Fintech, has raised USD 218 million, led by General Catalyst, in its first institutional funding. Participants in the funding round included private equity major Faering Capital, India-focussed equity investor Bay Capital, US-based Think Investments, growth-stage venture fund Avataar Venture Partners, Select Group, and some angel investors.PB Health is building an integrated healthcare management system, with doctors, insurers and patients all operating under one roof. The company plans to start a 1,200-bed network in Delhi NCR over the next two years, including a 270-bed hospital in Noida and two upcoming facilities in Gurugram.The company recently acquired Mumbai-based Fitterfly, which is a digital health platform offering diabetes reversal, obesity management, and heart health programs.