Business

Medi Assist Insurance acquires 100% stake in Raksha Health Insurance 

Medi Assist Insurance TPA will fund the transaction from internal accruals and completion of the transaction is subject to regulatory approvals and pending customary closing conditions.

• By Newsdesk
• Mumbai
• Mar 27, 2023

Business

Medi Assist Insurance TPA and Raksha Health Insurance TPA have entered into a definitive agreement under which Medi Assist Insurance TPA will acquire a 100% stake in Raksha Insurance TPA. Raksha was founded in 2002 by late Ritu Nanda, a visionary and philanthropist. 

Medi Assist Insurance TPA will fund the transaction with internal accruals, and the transaction is subject to regulatory approvals and customary closing conditions.

“Together with Medi Assist’s human-centered and technology-powered approach, we anticipate to help more insured customers get better care, when and how they need it,” said Pawan Bhalla, Managing Director, Raksha Insurance TPA.

"We believe access to health benefits is highest on the list of experiences that need to become more seamless. With Raksha we see lots of opportunities to improve the quality of experience across in-patient and out-patient care across the ecosystem," said Satish Gidugu, CEO, Medi Assist Insurance TPA.

Medi Assist is a health insurance-focused, technology-powered TPA that aims to make access to medical benefits more convenient and enjoyable by combining in-person, digital, and virtual services. Raksha Insurance TPA's management team has been the backbone of its growth and will be integrated with Medi Assist Insurance TPA.