Medi Assist Acquires Paramount Health Services for Rs 311.8 Crore

Medi Assist Healthcare Services is set to fully acquire Paramount Health Services & Insurance TPA at an enterprise value of Rs 311.8 crore. The acquisition will increase Medi Assist's market share to 36.6% in the group segment and 23.6% of the health insurance industry. Regulatory approvals are pending.

Medi Assist Healthcare Services has announced its acquisition of Paramount Health Services & Insurance TPA at a significant enterprise value of Rs 311.8 crore, solidifying its market presence in the insurance sector.

The deal, pending regulatory approvals from Irdai, will augment Medi Assist's market share to 36.6% in the group segment and 23.6% in the health insurance industry by premiums managed, enhancing their industry footprint.

Paramount TPA collaborates with 30 insurers and serves over 3,000 group customers and retail policyholders. Medi Assist CEO Satish Gidugu emphasized that the acquisition aligns with their objective of providing accessible and efficient healthcare. Paramount TPA MD Nayan Shah noted that this collaboration bolsters the goal of achieving universal insurance coverage by 2047.

(With inputs from agencies.)