Even Healthcare Lays Off 350 Employees Amid Hospital-Led Pivot
Even Healthcare lays off ~350 employees (30-35% of staff) as it phases down insurance and pivots to a hospital-led model.
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Even Healthcare has laid off around 350 employees, or 30-35% of its Bengaluru-based workforce, as it phases down its insurance business and redirects resources toward a hospital-led healthcare model. The job cuts affected multiple teams, Entrackr reported, citing people familiar with the matter, and are aimed at reducing costs and improving operational efficiency. Even Healthcare declined to comment on the development.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare operates a membership-based model offering primary care, diagnostics, hospital services, and post-discharge support. Members pay a monthly or annual fee for services including doctor consultations and diagnostic tests, and the company also offers health insurance plans covering hospitalisation.
The layoffs come as Even increases its focus on directly delivering healthcare through hospitals. It launched its first multispeciality hospital in Bengaluru in May 2025, which it said achieved operating break-even within six months, and has been expanding its hospital footprint in the city.
Earlier this year, Even Healthcare raised USD 20 million (about INR 180.5 crore) in a round led by existing investors Lachy Groom and Alpha Wave Global, with participation from Sharrp Ventures, to expand its hospital operations in Bengaluru and scale its managed-care business. Since inception, the startup has raised more than USD 90.45 million from investors including Khosla Ventures, Sharrp Ventures, Alpha Wave, Lachy Groom, Nithin Kamath, and 8VC.
On the financial front, Even Healthcare’s net loss widened 15.3% to INR 83 crore in FY25 from INR 72 crore in FY24, while operating revenue rose 3.1x to INR 25 crore from INR 8 crore.
Even Healthcare has laid off around 350 employees, or 30-35% of its Bengaluru-based workforce, as it phases down its insurance business and redirects resources toward a hospital-led healthcare model. The job cuts affected multiple teams, Entrackr reported, citing people familiar with the matter, and are aimed at reducing costs and improving operational efficiency. Even Healthcare declined to comment on the development.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare operates a membership-based model offering primary care, diagnostics, hospital services, and post-discharge support. Members pay a monthly or annual fee for services including doctor consultations and diagnostic tests, and the company also offers health insurance plans covering hospitalisation.
The layoffs come as Even increases its focus on directly delivering healthcare through hospitals. It launched its first multispeciality hospital in Bengaluru in May 2025, which it said achieved operating break-even within six months, and has been expanding its hospital footprint in the city.
Earlier this year, Even Healthcare raised USD 20 million (about INR 180.5 crore) in a round led by existing investors Lachy Groom and Alpha Wave Global, with participation from Sharrp Ventures, to expand its hospital operations in Bengaluru and scale its managed-care business. Since inception, the startup has raised more than USD 90.45 million from investors including Khosla Ventures, Sharrp Ventures, Alpha Wave, Lachy Groom, Nithin Kamath, and 8VC.
On the financial front, Even Healthcare’s net loss widened 15.3% to INR 83 crore in FY25 from INR 72 crore in FY24, while operating revenue rose 3.1x to INR 25 crore from INR 8 crore.
