Pristyn Care, a healthtech startup, has suspended the founders of Lybrate, a digital health platform, after 12 months of its acquisition. The founders, Rahul Narang and Saurabh Arora, have been suspended for alleged “non-performance” and “breach of trust.”
Pristyn Care acquired Lybrate in June 2022 for an undisclosed sum. The acquisition was seen as a way for Pristyn Care to expand its reach into the digital health market.
However, the acquisition has been marred by controversy. In March 2023, Narang and Arora alleged that Pristyn Care had not paid them the full acquisition amount. They also alleged that Pristyn Care had forced them to sign a non-compete clause that prevented them from working in the digital health space.
Pristyn Care denied the allegations, saying that it had paid the full acquisition amount and that the non-compete clause was standard in such deals.
The suspension of Narang and Arora is the latest twist in the saga of the Pristyn Care-Lybrate acquisition. It remains to be seen how the situation will be resolved.