Investment firm Plum, supported by Tiger Global, resolves to heavily invest in the healthcare sector over the next four years, unveiling a comprehensive plan.
In 2019, Plum Benefits Pvt Ltd was established by Abhishek Poddar and Saurabh Arora with a focus on employee health benefits. Now, the company is planning a significant shift, aiming to expand its services and become a comprehensive digital health platform within the next four years [1][2][5].
The company's expansion plan involves investing Rs 200 crore (approximately $25 million) into its healthcare vertical. Key components of this strategy include expanding its healthcare team fivefold, launching Plum Health Checkups, a comprehensive at-home screening solution, and building on its existing telehealth offering [1].
Plum Health Checkups uses over 200 advanced biomarkers, AI-powered risk insights, and personalised interventions by experienced doctors, aiming to move employee health management from reactive to proactive care [1][5]. The company is also investing heavily in technology infrastructure, hiring both clinical and engineering talent, and developing partnerships and go-to-market initiatives to scale the platform effectively [2].
The expansion plan also targets preventive and personalised healthcare at scale to address the challenge of chronic illnesses emerging earlier in India’s workforce and the high demand for mental health services [1]. Healthcare services are expected to contribute 30-40% of future B2B revenue, signalling a significant business model evolution beyond group insurance [2].
Based in Bengaluru, India, Plum Benefits Pvt Ltd is backed by investors such as Peak XV Partners and Tiger Global. However, the current status of the expansion plan and further details about it have not been disclosed [1][2][5]. The success of the expansion plan will depend on various factors, including market demand and regulatory approvals.
This comprehensive approach reflects Plum's vision to become a healthcare-first platform, delivering accessible, preventive, and personalised care to corporate India at scale over the next few years [1][2][5]. As Plum Benefits Pvt Ltd embarks on this ambitious journey, it is poised to make a significant impact on the digital health landscape in India.
- Plum Benefits Pvt Ltd, in its expansion plan, intends to invest a substantial amount into its healthcare vertical, which includes a significant increase in their healthcare team, launching Plum Health Checkups, expanding their telehealth offerings, and focusing on technology infrastructure.
- As part of their plan to become a comprehensive digital health platform, Plum Benefits Pvt Ltd is also planning to delve into business areas beyond group insurance, with healthcare services expected to contribute 30-40% of future B2B revenue.
