Even Healthcare raises $20 million, to expand managed‑care hospitals

Even Healthcare

• Even Healthcare raised $20 million to expand its hospital network in Bengaluru
• Company reached operating break-even in under six months, doubling its valuation
• Even to open 25 hospitals in 36 months, focusing on affordable care.

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Even Healthcare has raised $20 million (Rs 180 crore) in fresh funding to expand its managed‑care hospital network in Bengaluru, after its first facility reached operating break‑even in less than six months.

The funding round was led by existing backers Lachy Groom and Alpha Wave, with participation from Sharrp Ventures, taking the Bengaluru‑based startup’s total funding to about $70 million, the company said on January 6.

The round more than doubles Even’s valuation in under a year, the company said.

Even plans to deploy the capital to scale its brick‑and‑mortar footprint in Bengaluru and deepen its managed‑care model, under which clinical teams are incentivised on patient recovery and outcomes rather than hospital utilisation.

The company operates across the full-care continuum, from teleconsultations and diagnostics to hospitalisation and monitored recovery at home.

“We’re proud of that milestone because it’s fast by hospital standards — many hospitals take two to three years to reach operating break‑even,” co‑founder Mayank Banerjee said. “What matters even more is how we got there: a model structurally designed to reduce unnecessary admissions, long stays and avoidable return visits.”

Lachy Groom said Even has demonstrated “strong clinical outcomes alongside early unit‑level profitability”, adding that the ability to scale managed care without compromising quality sets the company apart.

Alongside the funding announcement, Even disclosed early performance data from a tracked patient cohort, including zero unplanned 30‑day readmissions, no post‑operative infections across more than 350 surgeries, and an average length of stay at least 40 percent shorter than comparable settings. The company also reported avoiding over 200 hospitalisations through monitored recovery at home.

Founded in 2020, Even began as a digital‑first healthcare provider and moved into hospitals in 2025. It plans to open 25 hospitals over the next 36 months, starting with secondary‑care facilities focused on maternity, orthopaedics and minor procedures.

Unlike traditional fee‑for‑service providers, Even employs salaried doctors and prices care for India’s middle-class, aiming to keep healthcare costs in check as it scales.