Even Healthcare Lays Off 350-400 Employees as It Restructures Around Hospital-Led Model

Bengaluru-based healthtech company Even Healthcare has laid off around 350-400 employees, representing roughly 30-35% of its workforce, as it restructures the business and shifts more resources towards its hospital-led managed-care operations.

The workforce reduction has affected multiple teams as Even reallocates resources towards its hospital expansion plans and works to improve operational efficiency. The company has not publicly commented on the reported layoffs.

The restructuring comes months after Even raised $20 million in fresh funding from existing investors Lachy Groom and Alpha Wave Global, with participation from Sharrp Ventures, taking its total funding to around $70 million at the time. The January 2026 round was announced to support the expansion of Even’s managed-care hospital network in Bengaluru.

Even is also reportedly raising another $50 million in fresh capital, with existing investor Khosla Ventures leading the round, according to NDTV Profit. This reported fundraise has not been announced as closed and therefore should not be counted as part of the company’s raised capital yet.

Founded in 2020 by Mayank Banerjee, Matilde Giglio and Alessandro Ialongo, Even initially built a membership-led healthcare and insurance model offering primary care, diagnostics, consultations and hospitalisation benefits.

The company has increasingly shifted towards directly delivering healthcare through its own hospitals. It opened its first hospital in Bengaluru in May 2025, marking a move towards a vertically integrated managed-care model combining primary care, diagnostics, hospitalisation and post-discharge recovery.

Even said its first hospital achieved operating break-even within six months of launch, considerably faster than the two to three years that the company said hospitals typically take to reach that stage.

Under its managed-care model, Even’s teams are responsible for coordinating the patient’s healthcare journey, from teleconsultations and diagnostics to hospital treatment and monitored recovery at home. The company aims to reduce unnecessary hospitalisations, prolonged stays and avoidable readmissions rather than relying on higher hospital utilisation.

Alongside its January funding announcement, Even reported early clinical and operating metrics from its tracked patient cohorts. The company said it had recorded more than 5,000 outpatient visits, avoided more than 200 hospitalisations through monitored home recovery, and achieved an average hospital stay that was around 40% shorter than comparable settings. It also reported zero unplanned 30-day readmissions and no post-operative infections across a cohort covering more than 350 surgeries. These figures are company-reported.

Even’s hospital strategy represents a significant change from its earlier subscription and insurance-led model. The company is now attempting to combine its existing membership base with directly operated hospitals and coordinated care services.

The shift comes amid continued losses. Even Healthcare Private Limited reported a net loss of ₹83.28 crore in FY25, compared with ₹71.77 crore in FY24. Revenue from operations increased to ₹22.07 crore from ₹5.93 crore, while total income rose to ₹25.05 crore.

Even had previously raised a $30 million Series A in October 2024, led by Khosla Ventures with participation from investors including Founders Fund, 8VC and Lachy Groom. The January 2026 funding subsequently took its reported total capital raised to $70 million.

The company said in January that it planned to open 25 hospitals over 36 months, initially focusing on secondary-care facilities covering areas such as maternity, orthopaedics and minor procedures.