What if a hospital made more sense financially when patients recovered faster?

Even Healthcare has raised $50 million in Series B funding as it doubles down on an unusually integrated healthcare model: combining insurance-linked financing, ongoing patient management and its own hospitals rather than treating each part of the healthcare journey separately. The round was led by existing investor Khosla Ventures, with participation from Alpha Wave.

The Bengaluru-based company said the round triples its valuation from its previous fundraise 18 months ago. TechCrunch reported the new valuation at about $300 million. The financing takesEven’s total capital raised to more than $120 million.

A large portion of that capital is going directly into physical healthcare infrastructure. Even plans to open five hospitals across Bengaluru over the next six months, beginning with Indiranagar. It currently operates two hospitals in the city and wants eventually to place an Even facility within five kilometres of every Bengaluru member before expanding the model to other major Indian cities.

The company’s central argument is that healthcare incentives should be tied more closely to patient recovery than to the volume of procedures performed. Even says its doctors are not compensated based on the number of tests or surgeries they conduct; instead, performance measures include recovery and readmissions. Its membership model also connects consultations, diagnostics, preventive care, chronic-disease management and hospitalisation.

Even says unplanned readmissions remained below 1% during its first full year of managed- care programmes with insurance partners, while average hospital stays were 40% shorter.

Those are company-reported outcomes, not independently established benchmarks. Both of its existing hospitals have also reached operational profitability, according to the startup.

Even now serves more than 2.5 lakh members across 10 cities, with membership tripling over the past year. The $50 million round suggests its next phase will be increasingly physical: proving whether an outcomes-focused managed-care model can scale when the company controls more of the hospital experience itself.