Bengaluru, 18th June 2025: Mykare, one of India's leading fin-health startups revolutionising healthcare accessibility for the missing middle class, has announced that it has achieved EBITDA-positive status in its flagship elective surgery vertical. This milestone comes alongside robust 80% year-over-year revenue growth and a current annual recurring revenue (ARR) of $3 million, demonstrating the scalability of its asset-light healthcare model. The achievement positions Mykare as one of the few profitable players in India's digital health ecosystem, just three years after the Kerala-headquartered company commenced operations in 2022. With unit economics showing EBITDA margins exceeding 10% and strong operational fundamentals, the company projects achieving company-wide profitability within the next four months.

Mykare's business model directly addresses one of India's most pressing healthcare challenges: accessibility and affordability for India's 400 million mostly self-employed middle class. With over 97% of this demographic lacking adequate health insurance coverage, approximately 55 million Indians are pushed into bankruptcy annually due to healthcare expenses. The company's elective surgery vertical provides end-to-end care coordination, delivering an average of 30% to 40% cost savings to patients through its network of 1,000+ healthcare providers across 15+ cities. Services include pre-surgical guidance to find the right providers, cost optimisation, free insurance support, interest-free loan options, and comprehensive on-ground patient assistance.

The company demonstrates consistent growth momentum with a 20% monthly increase in surgical enquiries and has counselled over 100,000 patients since launch, facilitating surgeries for more than 10,000 individuals. Mykare's impact extends to its provider partners, with 40% reporting significant increases in patient footfall and revenues, often transforming facilities with 25-30% occupancy rates into thriving healthcare providers. Operating within India's asset-light healthcare provider segment—projected to grow at 29.74% CAGR from 2025 to 2030—Mykare is strategically positioned in the digital health sector, expected to expand from $3.8 billion in 2022 to $18.3 billion by 2030. 

Commenting on the milestone, Senu Sam, Founder & CEO, Mykare, said, “Achieving EBITDA-positive status in our elective surgery vertical proves that purpose-driven healthcare can be both impactful and financially sustainable. This milestone validates our mission to make quality healthcare accessible to India's underserved middle class, where the vast majority lack adequate insurance coverage. Our success in delivering significant cost savings while maintaining profitability demonstrates the scalability of our model. As we expand with our new Bengaluru office, we're preparing to launch a comprehensive fin-health vertical targeting India's large self-employed segment—a population that remains largely uninsured despite representing nearly one-third of the country. The potential here is enormous: our asset-light model allows us to scale rapidly across India's underserved healthcare landscape. What excites me most is that we've proven sustainable unit economics can coexist with meaningful social impact—this positions us to transform healthcare accessibility for millions of Indians.”

Founded in 2022 by Senu Sam, Rachmethulla TM, and Joash Philipose, Mykare has raised $2.1 million from prominent investors including Avaana Seed, Huddle, AngelList, OnDeck ODX US, Endurance Capital, and JT Capital. The company recently expanded its operations with a new regional office in Bengaluru, complementing its presence across major cities including Kochi, Chennai, Hyderabad, Visakhapatnam, Bangalore, Trivandrum, Coimbatore, and Pune. Mykare's elective surgery coordination spans critical medical specialities including laparoscopy, proctology, gynaecology, urology, vascular surgery, ophthalmology, and cosmetic surgery, providing comprehensive care solutions through its technology-enabled platform.

With strong fundamentals in place and EBITDA-positive operations, the company is poised for its next phase of mass-market scale, demonstrating that purpose-driven healthcare businesses can be both impactful and financially sustainable.

About Mykare: Mykare is one of India's leading fin-health startups dedicated to making healthcare journeys seamless for India's 400 million self-employed middle class. Mykare has partnered with 1000+ providers across 15+ cities, delivering comprehensive care coordination with proven cost savings and exceptional patient satisfaction. The company's mission focuses on reducing out-of-pocket expenses, ensuring financial preparedness, and providing access to quality medical care when needed most.