PB Fintech to infuse $100 Million in new healthcare company

30 Sep 2024 , 03:33 PM

At an event on Friday, PB Fintech’s Co-Founder & Executive Vice Chairman Alok Bansal stated that the company’s push into healthcare will not be reconsidered and that it is a requirement for the middle class.

We are certain that this is a critical necessity for India’s middle-class today. Over-treatment in hospitals, fraud that can occur, any person strolling into this hospital, revenue for the hospital, but a cost to the insurance company. So, unless that section is handled, consumer trust, and we are talking about middle-class India, will not be gained. And without that customer trust exists, they will not come to purchase. And even if they come to buy, they will not buy; they will simply look at the option and leave,” Bansal stated.

Dahiya further stated that PB Fintech might invest up to $100 Million in the new healthcare company for a 20% to 30% stake, subject to the board’s approval. He also stated that this will be a one-time transaction and that PB Fintech has no plans to make additional investments in the healthcare sector.

“In India, there is sufficient demand for healthcare. I don’t think that’s the challenge. I believe everyone has their own market. This is intended for middle-class Indians who cannot pay ₹78,000 per room night. “Let us be very clear,” Dahiya commented.

At around 3.00 PM, PB Fintech was trading 0.45% lower at ₹1,633.45 per piece, against the previous close of ₹1,640.80 on NSE. The counter touched an intraday high and low of ₹1,713.70 and ₹1,621.15, respectively.

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