Mykare, a Kerala-based fin-health startup, has achieved EBITDA-positive status in its flagship elective surgery segment. The company reported 80% year-over-year revenue growth and a current annual recurring revenue (ARR) of $3 million. With EBITDA margins exceeding 10%, the startup expects to become company-wide profitable within the next four months.
Focused on India’s Underserved Middle Class
Mykare aims to serve India’s 400 million-strong self-employed middle class, where over 97% lack sufficient health insurance. Around 55 million people in this segment fall into bankruptcy each year due to healthcare expenses. Mykare addresses this issue by offering 30–40% cost savings on elective surgeries through a network of over 1,000 healthcare providers across 15+ cities.
Comprehensive Patient Support System
The startup offers end-to-end care coordination, including pre-surgical advice, provider selection, cost optimisation, free insurance support, interest-free loans, and patient assistance. This asset-light model helps reduce out-of-pocket costs while ensuring quality care.
Growth Momentum and Patient Impact
With a consistent 20% monthly rise in surgical enquiries, Mykare has so far guided over 100,000 patients and enabled more than 10,000 surgeries. The company has also helped partner hospitals increase their patient footfall, with 40% of facilities reporting significant revenue growth and improved occupancy.
Positioned for Sector-Wide Growth
Mykare operates in India’s growing asset-light healthcare provider segment, which is projected to grow at a CAGR of 29.74% between 2025 and 2030. The broader digital health market is expected to expand from $3.8 billion in 2022 to $18.3 billion by 2030, placing Mykare in a strong position for national scale.
Founder’s Vision for Scalable, Impactful Healthcare
Founder and CEO Senu Sam said the company’s profitability reflects the strength and sustainability of its purpose-driven model. With plans to launch a new fin-health vertical aimed at India’s uninsured self-employed segment, the company has opened a regional office in Bengaluru to support further expansion.
Funding and Services
Founded in 2022 by Senu Sam, Rachmethulla TM, and Joash Philipose, Mykare has raised $2.1 million from investors including Avaana Seed, Huddle, AngelList, and others. Its services cover laparoscopy, proctology, gynaecology, urology, vascular surgery, ophthalmology, and cosmetic procedures.
Mission and Outlook
Mykare’s mission is to reduce out-of-pocket medical expenses and increase financial readiness for healthcare among the uninsured. With a tech-enabled platform and solid financial performance, the company is set to scale further while delivering measurable social impact.
