Medi Assist Healthcare Services Ltd to Integrate Paramount Health Services & Insurance TPA Private Limited through Slump Sale

Medi Assist Healthcare Services Ltd has approved a three-step plan for the integration of Paramount Health Services & Insurance TPA Private Limited, its material step-down wholly owned subsidiary. The plan involves a slump transfer of TPA business from Paramount TPA to Medi Assist TPA, followed by the surrender of Paramount TPA's certificate of registration and an alteration to its Memorandum of Association. The final step is a merger of Paramount TPA with Medi Assist Healthcare Services Ltd. This integration aims to achieve economies of scale, comply with IRDAI regulations, and enhance policyholder experience.