Even Healthcare launches ESOP buyback amid talent retention push

Even Healthcare on Tuesday announced a $500,000 buyback, within three years of launching its employee stock ownership plan (ESOP). 

According to a statement, the Bengaluru company will conduct the buyback programme at its primary valuation without any discount. even Healthcare also said it has not reduced the valuation for the buyback, unlike the common practice of ESOP “haircuts” in the market. Eliminating the discount even ensures that employees receive the full value of their equity maximising their financial gains, it added.

This move follows the company’s $30 million Series A funding round in October last year.

Even Healthcare grants stock options to every full-time employee on the same terms as its founders. The company also offers guaranteed refresher benefits, providing employees with continuous stock-based rewards.

“At Even Healthcare, we believe in creating long-term financial opportunities for our employees. This buyback is a testament to our commitment to ensuring everyone who contributes to Even’s growth

benefits from it. We are proud to set a new benchmark in the industry and look forward to expanding our ESOP program further,” said Matilde Giglio, Co-founder of Even Healthcare, in a statement.

In an effort to maintain transparency, Even Healthcare publicly displays its compensation structures and ESOP allocations on its careers page. The initiative aims to ensure all employees understand how compensation decisions are made, reinforcing trust and alignment within the organisation.

Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare provides its members with unlimited free consultations, diagnostics tests, and other medical services through a network of owned and partner clinics and insurance partners.

The startup runs on a fee-based model, where its members can access consultations ranging from episodic care to chronic condition treatment for an annual fee of Rs 4,800, with the choice to add on health insurance for hospital coverage.

The company said that ESOP-driven hiring is seeing an upward trend and influencing career decisions as peers see startup employees generate wealth from stock ownership. Many professionals are prioritising long-term equity over high fixed salaries while switching jobs. This trend is also attracting talent from multinational corporations to early-stage startups.