Medi Assist Insurance Acquires Paramount TPA

The deal adds INR 4,000 Cr in health premiums under Medi Assist’s administration, and is expected to create synergies via AI-powered automation.

Leading Insurtech company, Medi Assist Insurance, a wholly owned subsidiary of Medi Assist Healthcare Services, has acquired full ownership in Paramount Health Services & Insurance TPA.

With INR 4,000 Cr in health premiums now under its wing, Medi Assist further cements its lead as India’s top health benefits administrator. The acquisition will also supercharge its provider network and unlock smarter efficiencies through AI-powered automation.

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

Following the completion of the acquisition, both entities will continue to operate independently until a formal merger process is completed, ensuring a smooth transition as the companies integrate their operations and align their offerings for enhanced value creation.

The CEO 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."

Medi Assist Healthcare specializes in health benefits administration for employers, retail policyholders, and public health schemes. They act as a bridge between insurers, hospitals, and policyholders, streamlining claims, enabling cashless hospitalization, and improving access to care through digital platforms.

Medi Assist provides health benefits administration services and technology platforms to the health insurance ecosystem through its subsidiary, Medi Assist TPA, and international arm, Mayfair We Care.

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