Medi Assist Healthcare Services’ wholly owned subsidiary -- Medi Assist Insurance TPA has signed definitive documents for 100% acquisition of Paramount Health Services & Insurance TPA (Paramount TPA), a prominent player in the TPA space, owned by Fairfax Asia an d the Shah family. This acquisition marks a milestone in the TPA sector consolidating Medi Assist’s position as a market leader. The transaction is subject to customary closing conditions and regulatory approvals from the Insurance Regulator (IRDAI).
Paramount TPA works with 30 Insurers and 3,000+ group customers and retail policyholders. With the acquisition of Paramount TPA, Medi Assist TPA market share will grow to 36.6% for the group segment and 23.6% of the health insurance industry, by premiums managed. This acquisition is expected, amongst others, to leverage Medi Assist’s technology, automation (AI/ML), provider networks that position the combined business as a long-term strategic partner to Insurers (General, SAHI and Life).
Medi Assist is a health-tech and insurtech company focused on administering health benefits across employers, retail members, and public health schemes.
