Telehealth, e-pharmacy, doctor-discovery and insurance-distribution platforms, and new entrants funding hospitals.
Unlisted e-pharmacy and B2B medicine platform; majority owner of listed Thyrocare
Compiled from public reporting — not exchange-listed.
Routes patients to doctors, labs and pharmacies online (Apollo 24/7, Practo, Tata 1mg, PharmEasy), sells health insurance (Policybazaar) and digitises records and claims (Ayushman Bharat Digital Mission, National Health Claims Exchange). New capital - private equity and platform companies - is also building hospitals.
Platforms control patient acquisition and data, and insurance distributors steer which insurer and hospital network a family uses. Most standalone healthtech is still loss-making, so the listed exposure sits inside hospital groups (Apollo) and insurance marketplaces (PB Fintech).
Mostly pre-profit outside insurance distribution; value accrues through customer acquisition for the owner's hospitals, pharmacies and policies. Apollo plans to list its pharmacy-plus-digital arm separately (target Q4 FY27).