Shares of Medi Assist Healthcare Services rose over 2% on Tuesday to ₹481.90 after the company received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for a major acquisition. The approval allows its wholly owned subsidiary, Medi Assist Insurance TPA Pvt Ltd, to acquire 100% equity in Paramount Health Services & Insurance TPA Pvt Ltd.
The acquisition marks a strategic expansion for Medi Assist in the third-party administrator (TPA) segment, further consolidating its presence in the health insurance ecosystem.
As per the company’s stock exchange filing dated May 13, IRDAI’s clearance is a key milestone in completing the transaction, originally disclosed in August 2024. The deal is expected to enhance Medi Assist’s service capabilities and customer reach across India.
As of 9:31 AM, Medi Assist shares were trading at ₹481.90, up ₹10.05 or 2.13%. The day’s range was ₹472.15 to ₹482.95, with the stock’s market capitalization at ₹33.61 billion. It has a P/E ratio of 35.94 and dividend yield of 0.84%.
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