Medi Assist completes acquisition of Paramount TPA

Medi Assist Insurance TPA Pvt Ltd on Wednesday said it has completed acquisition of a 100 per cent stake in Paramount Health Services & Insurance TPA.

Both entities will continue to operate independently until a formal merger process is completed. This ensures a smooth transition as the companies integrate their operations and align their offerings for enhanced value creation, Medi Assist TPA said in a statement.

With this transaction, Medi Assist is set to add Rs 4,000 crore of health premiums, under administration, it said, adding the deal also enhances its provider networks and enables it to leverage operational synergies to scale services more efficiently across all health insurance segments.

''Acquisition of Paramount TPA is a significant milestone in our journey to simplify health benefits and increase access to quality healthcare for all,'' Medi Assist CEO Satish Gidugu said.

He further said,''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.'' In August last year, Medi Assist announced that it would fully acquire Paramount TPA at an enterprise value of Rs 311.8 crore.

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