**Pristyn Care Faces Executive Exits Amid Financial Challenges**
Bengaluru: Pristyn Care, a health-tech unicorn backed by Peak XV Partners, is facing significant challenges as several senior executives have recently resigned. The company is currently struggling to secure funding to maintain operations. Among those who have left is Prabhat Agarwal, the senior vice president of finance, who is reportedly serving his notice period. Harsimarbir Singh, co-founder of Pristyn Care, confirmed that Agarwal remains on the company’s payroll but did not clarify his resignation status.
Additionally, Tarun Bansal, the senior vice president of business and operations, resigned in June 2024, as indicated on his LinkedIn profile. Other notable departures include Srinivas Reddy P, senior vice president of human resources, and Gagan Arora, the marketing head, both of whom left the company last year.
In an effort to reduce costs, Pristyn Care has also let go of several junior and mid-level employees due to underperformance in the past two months. Financial statements reveal that the company’s total expenses surged to ₹1,013 crore in FY24, up from ₹876 crore the previous year. However, Singh stated that there have been no layoffs, emphasizing that there is natural attrition among junior staff, while the managerial workforce has actually increased from 200 to 250, with 33 new hires in recent months and plans for additional recruitment.
Founded in 2018 by Singh, Vaibhav Kapoor, and Garima Sawhney, Pristyn Care operates a network of hospitals and clinics through partnerships. The company achieved unicorn status in 2021 after raising $100 million in Series E funding, reaching a post-money valuation of $1.4 billion. In March 2024, Pristyn Care announced a reduction of 7% of its 1,700 employees as part of a strategic shift, discontinuing three service categories and exiting eight cities that were not contributing significantly to the business.
