Medi Assist TPA completes acquisition of Paramount TPA, set to drive next phase of growth

 Medi Assist Insurance TPA, a wholly owned subsidiary of Medi Assist Healthcare Services, has announced the completion of its acquisition of a 100 per cent stake in Paramount Health Services & Insurance TPA. The acquisition strengthens Medi Assist’s position as India’s largest health benefits administrator.

The transaction will add ₹4,000 crores of health premiums under administration to Medi Assist’s portfolio. According to the company, the acquisition will also enable access to expanded provider networks and introduce operational synergies. Medi Assist plans to scale services across health insurance segments by using automation powered by artificial intelligence (AI) and machine learning (ML).

One of the stated outcomes of the acquisition is the significant enhancement in the policyholder experience under the Paramount portfolio. Medi Assist aims to apply its AI-led capabilities such as fraud detection, automated claims processing, and predictive analytics to streamline health insurance workflows.

Both Medi Assist TPA and Paramount TPA will continue to function independently until the formal merger process concludes. This step is expected to ensure business continuity during the integration period.

Commenting on the development, Satish Gidugu, CEO of Medi Assist, said, “Acquisition of Paramount TPA is a significant milestone in our journey to simplify health benefits and increase access to quality healthcare for all. Paramount’s deep-rooted relationships and domain expertise complement our technology-driven approach, positioning us to deliver enhanced value to insurers and a superior experience to Policyholders.”