IPO-bound healthtech startup Practo has appointed former union health secretary CK Mishra to its board as an independent director.

Mishra is a retired IAS officer with nearly 38 years of administrative experience. He has served as secretary for the Ministry of Environment, Forest and Climate Change as well as the Ministry of Health and Family Welfare. Prior to these roles, he was the additional secretary and mission director of the National Health Mission.

Besides Mishra, Practo had roped in TVG Krishnamurthy and Alexander Kuruvilla to its board of directors in October 2024. The most recent appointment comes at a time when the Bengaluru-based startup is looking to raise fresh capital ahead of its proposed initial public offering (IPO).

Inc42 learnt in February that the startup is in advanced talks to raise between $100-$125 Mn in a pre-IPO round. The funds are expected to be raised at a post-money valuation of $700 Mn and are likely to be deployed towards fueling expansion and acquisitions.

As of now, the startup has raised close to $230 Mn from investors like Peak XV, Tencent, RTP Group, Z47, among others.

The startup, which had earlier considered a public listing this year, is now targeting a public markets debut in 2027.

Besides, Practo is also expanding its international footprint by scaling its presence in the US and UAE, while strengthening its leadership bench across technology and product.

Founded in 2008 by Shashank ND and Abhinav Lal, Practo operates a care-navigation platform which enables patients discover, book, and complete their healthcare journeys with over 7 Lakh doctors and healthcare providers across 2,400+ cities globally.

Besides this, Practo powers hospitals and clinics through Insta, a full-stack hospital information management system used by over 500 clients across 1,200+ facilities globally.

On the financial front, Practo turnedEBITDA profitable in FY25. In its annual letter, CEO Shashank said that Practo reported an operating EBITDA of ₹15 Cr on revenue of ₹234 Cr in the fiscal year, making a turnaround from FY24, when the startup had posted an EBITDA loss of ₹17 Cr on revenue of ₹240 Cr.

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