Healthtech startup Visit Health raises Rs 250 crore from PB Fintech subsidiary Docprime Tech
Visit Health has raised approximately Rs 250 crore in a combination of capital infusion and secondary purchase of shares from Docprime Technologies, a wholly owned subsidiary of PB Fintech, as well as other promoters and employees.
The New Delhi-based company will use the funds to expand its business, including a new partnership with TatvaCare, a company specialising in the health and wellness space, Visit Health said in a statement on Tuesday, adding that the collaboration will leverage capabilities of both companies and maximise their reach in the healthcare sector.
“The company’s primary capital requirement was not much because we have been Ebitda positive for the past few years. The remaining acquisition of shares can only happen through secondary transactions, involving existing entities such as Docprime, promoters, and we did a good chunk of Esop buyback as well,” said Vaibhav Singh, cofounder and managing director of Visit Health.
A secondary purchase is when existing shares of a company are bought and sold among investors, rather than issuing new shares to raise fresh capital for the company. A primary purchase refers to the buying of newly issued shares of a company.
Visit Health, founded in 2016 by Singh, Anurag Prasad, Shashvat Tripathi and Chetan Anand, provides a range of wellness and outpatient department (OPD) services, including health management, mental health support, diet planning and annual check-ups.
The company serves more than 400 companies, more than 4,500 small businesses and over 15
