Medi Assist Promoter to Sell 15.67% Stake for INR 560 Cr

Bessemer India Capital Holdings II Ltd., the promoter of Medi Assist Healthcare Services, is likely to exit the company through a bulk deal worth ₹560 crore.

Reportedly, the promoter entity will offload its entire 15.67% stake in Medi Assist, which operates as a third-party administrator for insurers.

The floor price for the sale has been set at ₹507 per share, a 4% discount from the previous closing of ₹527.90 per share. IIFL Capital Services Ltd. is the sole bookrunner for the transaction.

According to BSE data, Bessemer India Capital Holdings II holds 1.11 crore shares, representing 15.67% of Medi Assist. In June 2024, the promoter held 29.22% in the company, but by September 2024, it had sold a 13.49% stake amounting to 94.90 lakh shares for ₹580 crore.

Last month, leading Insurtech company, Medi Assist Insurance, a wholly owned subsidiary of Medi Assist Healthcare Services, 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.

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