The Company was incorporated on June 7, 2000 as a private limited company under the Companies Act 1956, with the name “Net Logistics Private Limited” and a certificate of incorporation granted by the Registrar of Companies, Karnataka at Bengaluru. Subsequently, the name of the Company was changed to “Medi Assist Healthcare Services Private Limited” with a fresh certificate of incorporation granted by the Registrar of Companies, Karnataka at Bengaluru on November 21, 2012. Pursuant to the conversion of the Company to a public limited company and as approved by the shareholders of the Company pursuant to a special resolution dated February 27, 2018, the name of the Company was changed to “Medi Assist Healthcare Services Limited” and the Registrar of Companies, Karnataka at Bengaluru issued a fresh certificate of incorporation on March 20, 2018.

Medi Assist Healthcare Services provides third party administration services to insurance companies through its wholly wned Subsidiaries, Medi Assist TPA, Medvantage TPA (from February 13, 2023) and Raksha TPA (from August 25, 2023). A third party administrator is an organization that processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management, among others. As a third party administrator, the company 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. The company also facilitates 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 the company and its other Subsidiaries, IHMS, Mayfair India, Mayfair UK, Mayfair Group Holding, Mayfair Philippines and Mayfair Singapore. 

The company’s technology-driven infrastructure and services are custom-built, and assist various stakeholders such as insurance companies, hospitals, insurance brokers and insurance agents in their operations, and are scalable, comprehensive, easy to use and secure. This enables it to offer a comprehensive healthcare solution to its customers, encompassing an extensive in-patient and out-patient network, on-demand health services, robust management of fraud, waste, and abuse, as well as effective medical inflation control. 

Business area of the company

The company is a health-tech and insurance-tech company that manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies. 

Awards and Accreditations

• 2014: Awarded the ‘Red Herring Top 100 Asia 2014 Award’ for innovative use of technology in the healthcare services industry.
• 2015: Recognition from the Maharashtra Rajya Police Mukhyalaya for servicing the Maharashtra Police Kutumb Arogya Yojana.
• 2016: Awarded the ‘Skoch Order of Merit’ for qualifying amongst top 100 projects in India for cloud, mobility and apps by the Skoch Group.
• 2016: Awarded the ‘Skoch Award - Silver’ for cloud, mobility and apps by the Skoch Group
• 2018: Certificate of appreciation for organising a voluntary blood donation camp by the Lions Blood Bank.
• 2019: Awarded the ‘Top Organizations with Innovative HR Practices’ by the Asia Pacific HRM Congress.
• 2020: Silver Level - Healthy Workplace Award 2020 by Arogya World India Trust.
• 2022: Awarded ‘Best Organisations for Women, 2022’ by the Economic Times.

Major events and milestones

• 2000: Incorporation of the company.
• 2002: Registration of Medi Assist TPA as a third party administrator with IRDAI.
• 2010: Medimatter Health acquired stake in the Company from Reliance Capital Limited and Medybiz Private Limited.
• 2011: Investment by Bessemer Health in the Company.
• 2011: Acquisition of 100% of the paid up equity share capital of Medi Assist TPA by the company.
• 2013: Investment by Investcorp Private Equity Fund I.
• 2016: Medi Assist TPA acquired DHS.
• 2018: MSPL amalgamated its business and operations in the Company.
• 2018 Medi Assist TPA acquired Medicare Insurance TPA Services (India) Private Limited on a slump sale basis.
• 2019: Demerger of the consumer facing health and wellness division of the Company into Mandala.
• 2022: Acquisition of IHMS by the Company.
• 2022: Acquisition of Mayfair India by the Company.
• 2022: Acquisition of Mayfair UK by the Company 2023.
• 2022: Acquisition of Medvantage TPA by Medi Assist TPA.
• 2023: Acquisition of Raksha TPA by Medi Assist TPA.