- Medi Assist makes its first international expansion by acquiring a majority stake in Mayfair We Care, a UK-based flexible healthcare administration service provider.
- The deal empowers Medi Assist to service global Indians in over 150 countries.
- Mayfair We Care will get access to Medi Assist’s robust technological capabilities across claims processing, fraud management etc.
We are announcing the acquisition of a majority stake in Mayfair We Care (Mayfair), a global benefits administrator headquartered in the UK. This strategic investment is Medi Assist’s first international acquisition. The acquisition empowers us to serve global Indians beyond borders and offers Indian Insurers the opportunity to extend services for insurance policies across a large combined network of over 150 countries through Medi Assist.
Benefits beyond borders
Indians contribute to a majority of the traveling population worldwide. This number saw a halt during the pandemic but has seen an upward trend thereafter. Travel needs are mostly for employment, education, andleisure and there is always a requirement to buy country-specific insurance policies. More often than not, people depend on insurers and TPAs of the visiting country. The acquisition of Mayfair is our answer to managing access and affordability of healthcare for global Indians.
From building a large healthcare provider network, managing medical inflation to innovating technologies that have eased operations for the entire healthcare and benefits ecosystem, Medi Assist has been at the forefront of transformation in the Indian insurtech / healthtech space.
A strategic step towards better healthcare access…
Medi Assist is the leader in the Indian benefits administration market – currently serving over 9500 corporates within the country.
Over the last two decades, we have grown organically and inorganically.
We acquired Dedicated Healthcare Services (DHS) TPA in 2016 and Medicare TPA in 2018. In September 2022, we filed for regulatory approvals for acquisition of Medvantage, formerly known as UnitedHealthcare Parekh Insurance TPA Pvt. Ltd. Through our acquisitions, we have enhanced healthcare access for marquee corporate clientele across the country.
With respect to this acquisition, as India Inc. goes global and Indian companies make strides abroad, Medi Assist will seamlessly take care of employee health and benefits administration beyond Indian borders for its corporate clients.
Mayfair has been delivering healthcare administration solutions globally for over two decades and has built a strong reputation through its dedicated focus on health and wellness for its customers. Mayfair is a well-recognized and respected name amongst most Indian corporates with a footprint overseas. Their services are employed by global Indian companies to support benefits administration for their employees abroad. Mayfair is adept at working with global insurers and is specialized in working with companies that have mobile workforce such as seafarers, international sports teams, etc. to name a few.
With this acquisition, we will together offer medical benefits administration services empowered with a large combined global healthcare network across 150+ countries.
Additionally, Medi Assist is exploring opportunities to introduce its robust technology infrastructure in the geographies serviced by Mayfair, and also launch unique services through an integrated benefits management platform.
To know more about the acquisition, read the Press Release HERE