“This acquisition aligns with Medi Assist’s overall growth strategy, and expands our presence in the North and West regions of India and adds approximately 3,000 corporates to our client list. Raksha TPA adds 17 per cent to Medi Assist in terms of scale,” said Satish Gidugu, Director, Medi Assist Insurance TPA
Bangalore::
Medi Assist Insurance TPA Private Limited, the largest third party administrator, has fully acquired Raksha Health Insurance TPA Private Limited founded by Ritu Nanda of Escorts Company in 2002.
Without disclosing the details of the deal, Medi Assist Insurance TPA said it will fund the transaction from internal accruals and completion of the transaction is subject to regulatory approvals and pending customary closing conditions
“This acquisition aligns with Medi Assist’s overall growth strategy, and expands our presence in the North and West regions of India and adds approximately 3,000 corporates to our client list. Raksha TPA adds 17 per cent to Medi Assist in terms of scale,” said Satish Gidugu, Director, Medi Assist Insurance TPA.
Medi Assist Insurance TPA generated a revenue of Rs 393 crores, while Raksha generated a revenue of Rs 67 crore in FY22. and it rankED 6th in terms of health insurance premiums in the country. In FY22, said a release by Medi Assist.
Medi Assist has already taken over Medvantage, Mayfair We Care to service policyholders in over 150 countries.