New Delhi, Dec 29 (PTI) Medi Assist Healthcare Services Ltd on Monday said its step down subsidiary Paramount Health Services & Insurance TPA Private Ltd (Paramount TPA) decided to merge with another group
entity Medi Assist Insurance TPA.
The decision in this respect has been taken in respective board meetings, Medi Assist Healthcare Services Ltd said in a regulatory filing.
The proposed merger would be without cash consideration, it said.
Paramount TPA is a wholly owned subsidiary company of the Medi Assist Insurance TPA Pvt Ltd.
It further said Paramount TPA had turnover of Rs 178.5 crore while its promoter company had total revenue of Rs 667.8 crore at the end of March 2025.
Both entities are engaged in the business of providing health administration services as a Third Party Administrator to insurance companies in connection with health services.
It will enable Medi Assist Insurance TPA to integrate its business operations and provide impetus to the operations of Paramount.
The consolidation of the activities will provide seamless access to the assets (including intangible assets, licenses and intellectual properties whether or not recorded in the books) of the Paramount TPA, which will lead to synergies of operations, reduction in overheads and boost financial strength thereby creating a stronger base for future growth and accretion of shareholder value, it said.
Medi Assist Healthcare Services Ltd is not a party to the Scheme of amalgamation and the shareholding pattern of the company shall remain unchanged, it said. PTI DP DP DR DR
