Digital healthcare firm Practo has appointed Jagnoor Singh as CEO, while founder Shashank ND shifts to executive chairman to guide the company's IPO preparations for 2026. The company recently turned profitable in FY25 and is working to move its base back to India. These changes coincide with active expansion efforts in the US and UAE markets.
Practo, the digital healthcare platform, has announced a significant leadership restructuring as it prepares for a potential public listing in the second half of 2026. Jagnoor Singh, who joined the Bengaluru-based company last year as chief operating officer, has been appointed as the new CEO. He will now lead the company's global strategy and market operations. Founder Shashank ND is transitioning to the role of managing director and executive chairman, where he will focus on long-term product innovation, corporate development, and potential acquisitions.
The leadership change comes alongside a push for profitability and international expansion. Practo reported that it achieved a significant financial milestone in FY25, recording an operating EBITDA of ₹15 crore. This is a reversal from the previous fiscal year, where the company posted an operating loss of ₹17 crore in FY24. The firm states that it has been profitable for the last two-and-a-half years, a metric that is often critical for technology companies preparing for an initial public offering.
As part of its strategy to list on Indian stock exchanges, the company is also planning to move its holding entity from Singapore back to India. This process, often called a 'reverse flip' in the startup ecosystem, simplifies the regulatory path for an Indian IPO. By consolidating its legal structure within India, the company aims to align better with local capital markets and investor requirements.
Practo is currently scaling its operations beyond its home market. In 2025, the company entered the UAE market and also launched a care-navigation platform in the United States. According to the company, its US operations have gained traction, listing over 200,000 doctors and reaching an annualized gross merchandise value run rate of $75 million. However, international expansion involves navigating different regulatory environments and intense competition, which will be important for investors to monitor as the company continues to scale.
The internal restructuring also includes shifts for its co-founders. Siddhartha Nihalani has been named CEO of the consumer business division, while Abhinav Lal has taken on the role of chief scientist, focusing on artificial intelligence in healthcare. Rowel Coelho has been appointed as the chief operating officer for the business-to-business division.
Founded in 2008, Practo has raised over $228 million in funding from investors including Peak XV Partners, Tencent, and the AIA Group. With the IPO timeline set for 2026, the market will likely track the company's ability to maintain its profit margins while managing the complexities of international operations and the relocation of its corporate structure.