Pristyn Care is one of several Indian startups that have reduced their workforce in recent months.
GST representatives visited Pristyn Care’s office a few months earlier to ask questions about the company’s operations.
Some 300-350 people from various departments have been laid off by Gurgaon-based health tech startup Pristyn Care in the past two months, according to reports. Employees of the sales and technical departments have been affected by the layoffs of the startup. However, the company claimed that it has only laid off about 45 employees due to their poor performance.
“We have a thorough approach to performance assessment that helps us understand efficiency levels across the board,” a spokeswoman for Pristyn Care told Inc42. “We had to lay off about 45 people who underperformed across the board as part of this standard process. Even during the pandemic when things were slow, we changed direction and found new cash flow, which allowed us to keep all of our employees she added.
Further information revealed that GST representatives had gone to Pristyn Care’s office a few months earlier to ask questions about the company’s operations. The startup’s spokesperson confirmed the GST officials’ visit. “The GST department had some simple questions about how we run our business. We offered full cooperation and provided all necessary information. We have also given up part of the GST input tax credit that was available to us as part of the proceedings (under protest),” the spokesperson added.
Pristyn Care is one of several Indian startups that have reduced their workforce in recent months. In the past two months, Peers Phable and Medibuddy have laid off 70% and 8% of their staff, respectively.
Founded in 2018, Pristyn Care provides advanced secondary surgical care through its network of more than 800 hospitals, more than 200 clinics and more than 400 in-house super-specialty surgeon rooms. The Gurugram-based startup has raised more than $177 million to date. Pristyn Care raised $96 million in its December 2021 Series E funding round and had a 7-month valuation surge to $1.4 billion, becoming the fastest growing health technology unicorn. Lybrate, a healthcare company based in New Delhi, was bought by it last year for an undisclosed sum.
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