Even Healthcare Steps into Hospital Biz, First to Open in Bengaluru Next Month
The upcoming hospital on Race Course Road, Bengaluru, will have 60–65 beds and offer secondary-care services such as maternity, orthopedics, and minor surgeries, avoiding high-capex tertiary care like oncology and cardiac services.
Even Healthcare, a managed care startup, is making its debut in brick-and-mortar hospitals, marking a strategic shift from its digital-first model to full-stack healthcare delivery.
Reportedly, the company plans to open 25 hospitals over the next 18 months.
Sharing thoughts, Matilde Giglio, co-founder and COO, Even Healthcare said, ''We’re building the first hospital now, which will be inaugurated on July 15 in Bangalore,” Giglio said. “It’s the first of many. The majority of the capital we raised will go into building hospitals from scratch.”
The decision comes after a $30 million Series A funding round in October, led by global investors including Khosla Ventures, as reported by Moneycontrol.
The upcoming hospital on Race Course Road, Bengaluru, will have 60–65 beds and offer secondary-care services such as maternity, orthopedics, and minor surgeries, avoiding high-capex tertiary care like oncology and cardiac services. Each hospital will be set up with an average investment of $3.5 million.
Founded in 2020 by Giglio, Mayank Banerjee, and Alessandro Ialongo, Even Healthcare integrates insurance, clinics, diagnostics, and now hospitalization under a single membership. It currently operates six clinics in Bengaluru.
“We want to own the entire healthcare journey,” Giglio said. “Our doctors are salaried and incentivized based on clinical outcomes, not procedure volume. That’s a first in India.”
Inspired by the Kaiser Permanente model in the US, Even’s approach blends preventive care, consultations, and hospital services with a focus on patient outcomes and affordability.
“We’re not rushing to raise more capital,” Giglio said. “We have a lot of money in the bank, but we’re always open to the right partner.”
Even has raised over $50 million to date and closed FY24 with $30 million in revenue, currently serving 300,000 members in urban markets. Expansion is planned for Mumbai, Delhi, Hyderabad, and Pune, with the Bengaluru rollout starting with three hospitals.
“We’re obsessed with customer experience,” she said. “Every touchpoint is tracked. Our clinics became profitable within four to six months.”
The leadership team includes former healthcare executives from Columbia Asia and Narayana Health, ensuring operational strength as it scales its hospital network.
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