Credent Connect N Care IPO

Credent Connect N Care is a healthcare services company that provides integrated logistics, workforce and technology-enabled support solutions to the healthcare ecosystem in India. The company primarily operates on a B2B model and caters to diagnostic laboratories, IVD companies, pharmaceutical companies, hospitals, clinics and other healthcare institutions.

The company’s business is built around the pre-analytical and operational support requirements of healthcare providers, covering movement of diagnostic samples and medical products, home sample collection, deployment of phlebotomists and paramedical staff, laboratory support and corporate wellness services. It has 2,589 riders and a fleet of 97 commercial vehicles, supported by two warehouses and branch offices across Delhi, Mumbai, Pune, Chennai and Varanasi as of June 2026.

The business has evolved from being primarily a healthcare logistics provider into a broader healthcare support platform. Its largest service vertical is healthcare services, which includes home sample collection, stationed phlebotomy services, preventive health check-ups and deployment of healthcare personnel. The company also acquired Credent Team Pvt Ltd and AllTrak Technologies Pvt Ltd in December 2025 and February 2026.

Healthcare Services remained the largest revenue contributor accounting for 43.04% in FY26 revenue at ₹92.18 crore. Logistics Services contributed 25.26% or ₹54.11 crore, while Operations & Supply Chain Management accounted for 24.93% or ₹53.38 crore.

The company had around 280 domestic customers in FY26, including 38 customers that had been associated with it continuously for three years. Its laboratory network has also expanded from 1,675 laboratories in FY24 to 2,256 in FY25 and 2,530 in FY26. However, the top 10 customers accounted for 81.76% of revenue in FY26, compared with 83.31% in FY25 and 87.92% in FY24. The business is concentrated in a few key states, with Maharashtra and Uttar Pradesh being the two largest markets. In FY26, Maharashtra contributed 29.40% of consolidated revenue, followed by Uttar Pradesh at 26.83% and Delhi at 10.93%.