Medi Assist Insurance TPA Private Limited (Medi Assist TPA), a wholly owned subsidiary of Medi Assist Healthcare, has entered into a share purchase agreement to acquire 100% equity stake in Paramount Health Services & Insurance TPA Private Limited (Paramount TPA). The acquisition, valued at an enterprise worth of ₹400 crore, is expected to complete within 4-6 months, subject to regulatory approvals.
The acquisition, finalized on August 26, 2024, is set to bolster Medi Assist TPA’s position in the insurance intermediary market.
Paramount TPA, established in 1996 and licensed by the IRDAI in 2002, is a leading third-party administrator (TPA) in India, with a strong market presence across group, retail, and government segments. In FY24, Paramount TPA managed premiums totalling ₹3,866 crore and reported a revenue of ₹153 crore.
Medi Assist TPA aims to leverage this acquisition to enhance market share, improve operational efficiencies, and solidify its position as a strategic partner to insurers across the country. The combined market share in the group segment will grow to 36.6%, with a 23.6% share across the overall health insurance industry in India.
The acquisition with enable Medi Assist deliver further efficiencies across teams, technology and inpatient/outpatient networks thereby strengthening its proposition as a long-term strategic partner to Insurers (General, SAHI and Life).
