PB Fintech is expanding into the healthcare sector by establishing a wholly-owned subsidiary.
PB Fintech has decided to enter the healthcare sector by establishing a wholly-owned subsidiary. The new entity aims to provide comprehensive healthcare services and has an authorized share capital of INR 5 lakh. PB Fintech will maintain 100% ownership of this subsidiary.
The Chairman and Group CEO of PB Fintech, Yashish Dahiya, has emphasized the need to address inefficiencies in the insurance ecosystem and reduce friction in the system. PB Healthcare's long-term strategy focuses on maximizing the lifetime value of customers and creating synergies with Policybazaar's existing business model.
PB Fintech has committed up to USD 100 million to this healthcare venture. The decision to enter the healthcare sector comes after a strong financial performance, with operational revenue of INR 1,167 crore for Q2 FY25 and a profit of INR 51 crore. Dahiya believes that the healthcare initiative has the potential to accelerate the overall industry growth rate by 5% annually.
PB Healthcare aims to enhance its market position and contribute to the improvement of the healthcare sector in India. This move reflects a trend in the financial services industry of diversifying offerings and tapping into new markets for growth. The focus on building trust and efficiency within the healthcare ecosystem could have a transformative impact on the health insurance industry.
With a strong financial performance and a clear strategic vision, PB Healthcare is well-positioned to make a meaningful contribution to the evolving landscape of healthcare services in India.