Medi Assist Insurance TPA Private Limited, a wholly owned subsidiary of Medi Assist Healthcare Services, has announced the signing of definitive agreements to acquire 100% of Paramount Health Services & Insurance TPA Pvt. Limited. Paramount TPA, a key player in the TPA sector, is currently owned by Fairfax Asia and the Shah family.
This acquisition will enhance Medi Assist’s position as a leading market player and is pending customary closing conditions and regulatory approvals from the Insurance Regulatory and Development Authority of India (IRDAI).
Paramount TPA partners with 30 insurers and serves over 3,000 group clients and retail policyholders. Following this acquisition, Medi Assist TPA’s market share will increase to 36.6% in the group segment and 23.6% in the health insurance industry, based on premiums managed.
The deal is expected to capitalize on Medi Assist’s technology, automation (AI/ML), and provider networks, positioning the combined entity as a key strategic partner for insurers across general, SAHI, and life insurance sectors.