Medi Assist Healthcare Services Ltd Share Price

History of Medi Assist Healthcare Services Ltd

Medi Assist Healthcare Services Limited was formerly incorporated on June 7, 2000 as a private Company as 'Net Logistics Private Limited'. Subsequently, the name of the Company was changed to 'Medi Assist Healthcare Services Private Limited' on November 21, 2012 and further upon the conversion to a Public Limited Company, the name was changed to 'Medi Assist Healthcare Services Limited' w.e.f. March 20, 2018. Medi Assist Healthcare Services Limited operates as a premier health benefits administrator, providing essential connectivity between insurers, healthcare providers, and members across international markets. The Company delivers a comprehensive portfolio of services, including claims management, fraud prevention, and provider network administration. The Company's operations have tr ...ansitioned from a traditional third-party administration to encompass full-spectrum health benefits management. Company also manages extensive government health schemes and international private medical insurance, leveraging a global network exceeding 500,000 healthcare providers. The Company offer Insurance Companies, seamless exchange of insured member and claims Information, claims processing, fraud detection, management of cashless healthcare provider network, enabling final payout to insured members and hospitals and data analytics, among others. The Company was registered as a Third Party Administrator (TPA) with IRDAI in 2002. In December 2010, Medimatter Health acquired equity stake into the Company from Reliance Capital Limited and Medybiz Private Limited. On May 27, 2017, Company acquired business of Medicare Insurance TPA Services (India) Private Limited as going concern through slump sale, which became effective from June 29, 2018. Medi Assist TPA acquired DHS TPA in 2018. On 17 February 2018, Medybiz Services Private Limited (MSPL) merged with Company through Scheme of Amalgamation and the entire business undertaking of MSPL, was transferred in the Company effective from April 1, 2018. The amalgamation between the Company and Medybiz Services Private Limited (MSPL) was made effective from December 9, 2019. In 2019-20, through Scheme of Arrangement between the Company and Mandala, the entire undertaking of the Consumer Facing Health and Wellness Division of the Company demerged and transferred in Mandala and the Scheme of Demerger became effective from December 4, 2020. In October 2022, the Company acquired 10,000 equity shares of International Healthcare Management Services Private Limited from Mayfair Group Holding Subcontinent Limited and Nicholas Taylor, constituting 100% of its equity share capital, subsequent to which, IHMA became a wholly-owned subsidiary of the Company. In 2022, Medi Assist TPA acquired Medicare Insurance TPA Services (India) Pvt. Ltd. In 2023, the Company acquired Mayfair We Care. In 2023, the Company acquired Raksha Health Insurance TPA Private Limited and Raksha TPA became a wholly-owned subsidiary of Medi Assist TPA on August 25, 2023. The Company came up with an Initial Public Offering by issuing 28,028,168 Equity Shares, having the face value of Rs 5 each by raising Rs 1172 Crores through offer for sale in January, 2024. The Company has expanded the provider network to 20,204 active partners, with over 10,000 new hospitals launched in FY 2025.