The company will now service over Rs 10k crores of health insurance premiums as part of its corporate portfolio
Medi Assist has announced that they have signed a definitive agreement to acquire 100 per cent stake in Medvantage Insurance TPA (formerly UnitedHealthcare Parekh Insurance TPA).
Medi Assist expects to fund the acquisition with existing cash from its balance sheet. The transaction was approved by the Board of Directors at each of the respective companies and is subject to receipt of regulatory approval and satisfaction of other customary closing conditions.
The company will now service over Rs 10k crores of health insurance premiums as part of its corporate portfolio.
Medi Assist has in the past acquired Dedicated Healthcare Services (DHS) TPA in 2016 and Medicare TPA in 2018. With Medvantage, Medi Assist adds more clients to its existing portfolio of over 9,000 corporate clients and will bring its technology platform to Medvantage’s customers.