Venture-backed healthcare startups have begun owning and running hospitals in cities through lower-capex models, pushing into a sector long burdened by high build-out and operating costs.

PB Health, an affiliate of Policybazaar, Even Healthcare, Pristyn Care and Superhealth are each testing different versions of this strategy after opening their first facilities in Gurugram and Bengaluru. The moves are notable because these companies did not begin as hospital operators. PB Health and Even were built as insurance-led platforms, whereas Pristyn Care started out as a hospital aggregator. All three have now moved into opening and managing medical facilities.

Even operates a couple of hospitals in Bengaluru and plans to open five more this year. Its focus areas are internal medicine, general surgery, orthopaedics, gynaecology, urology, ENT, gastro care and paediatrics. Even has raised $72.5 million to date from investors including Khosla Ventures, Founders Fund, Lightrock, Rainmatter and 8VC. The most recent round, in January, brought in $20 million from existing backers Lachy Groom and Alpha Wave, doubling the company's valuation from a year earlier. Superhealth has launched a hospital in Bengaluru, offering a broader mix of services across cardiology, general surgery, orthopaedics, obstetrics and gynaecology, gastroenterology, urology, general medicine, dermatology, ophthalmology and pulmonology. Superhealth has raised over $6 million so far, with backing from cricket icon MS Dhoni's family office, Panthera Peak Capital and Sparrow Capital, among other investors.