Medi Assist Healthcare Services Acquires Paramount Health in Rs 400-Crore Deal

Medi Assist Healthcare Services has acquired Paramount Health Services & Insurance TPA in a deal worth over Rs 400 crore. The acquisition will increase Medi Assist TPA's market share significantly. The transaction awaits regulatory approval and aims to enhance quality healthcare accessibility.

Medi Assist Healthcare Services has announced its acquisition of Paramount Health Services & Insurance TPA in a landmark deal exceeding Rs 400 crore.

The acquisition agreement, signed with Fairfax Asia and Nayan Shah & family, will make Medi Assist a dominant player in the TPA sector, expanding its market share to 36.6% in the group segment and 23.6% in the health insurance industry by premiums managed, according to the company.

The deal, subject to Irdai regulatory approval, includes an enterprise value of Rs 311 crore and Rs 110 crore in cash equivalents. This milestone move aims to solidify Medi Assist's leadership in the healthcare sector.

(With inputs from agencies.)