About Company

• Medi Assist Healthcare Services Limited (“Medi Assist”) was incorporated on June 7, 2000. Medi Assist is the holding company and conducts its business of providing third-party administration (“TPA”) services to insurance companies through its wholly owned subsidiaries, Medi Assist TPA, Medvantage TPA  and Raksha TPA. As a third-party administrator, it acts as a facilitator between (a) insurance companies and their policy holders, (b) insurance companies and healthcare providers (such as hospitals), and (c) the Government and beneficiaries of public health schemes. 
• As a third-party administrator, Medi-Assist act as a facilitator between:  Insurance companies and their policy holders,   Insurance companies and healthcare providers (such as hospitals),   The Government and beneficiaries of public health schemes.  
• Company’s subsidiaries, Medi Assist TPA and Medvantage TPA, contributed to 96.32% of their revenue from contracts with customers in the FY2023 and 92.98% of the revenue from contracts with customers in the 6 months ended September 30, 2023.  
• The company managed ?14,574.65 crore of health insurance premiums (group and retail) as at the end of FY2023 growing at a CAGR of 35.67% from ?7,918.49 crore as at the end of FY2021. As of September 30, 2023, they work with 35 insurance companies in India and globally.
• The company also facilitate other healthcare and ancillary services such as hospitalization services, call centre services, customer relations and contract management services, billing services and claims processing services through their company and their other Subsidiaries.
• Medi-Assist serviced over 9,500 group accounts across sectors to help administer the insurance requirements of their employees. As of March 31, 2023, Medi Assist TPA and Medvantage TPA managed around ?12,818 crore of group health insurance premiums, representing 27.61% of India’s overall group health insurance market.  
• The company also service individual insurance policyholders, and for the Financial Year 2023, they managed ?1,757 crore of premiums for the retail health insurance market, representing 5.06% of the overall retail health insurance market in India.

Strengths

Competitive Strength 

• Well-Established Third-Party Administrator in India;
• Scalable Technology-Enabled Infrastructure Addressing the Needs of All Constituents of the Health Insurance Ecosystem;
• Longstanding Relationships with a Majority of Insurance Companies;
• Diversified base of Group Accounts with Longstanding Relationships;
• Attractive Contracts with a pan-India Healthcare Provider Network;
• Ability to Integrate Acquisitions;
• Experienced Management Team and Marquee Shareholders.

Business Strategies 

• Maintain the Leadership Position among Group Accounts;
• Continue Pursuing Inorganic Growth Opportunities;
• Continue to Enhance the Technology Platforms;
• To Increase the Share in the Retail Segment.

Company Promoters

Company Financials

Medi Assist Healthcare Services Limited's revenue increased by 25.95% and profit after tax (PAT) rose by 15.3% between the financial year ending with March 31, 2023 and March 31, 2022.

Objects of the Issue

The object of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The company expects that listing the Equity Shares will enhance its visibility and brand and provide liquidity to its existing Shareholders. The listing will also provide a public market for the Equity Shares in India. The company will not receive any proceeds from the Offer. All proceeds from the Offer will go to the Selling Shareholders, in proportion to the Equity Shares offered by them in the Offer for Sale.