TPAs handle documentation and processing of claims for the insurer to make last settlement
Medi Assist Healthcare Services has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (Sebi) for an preliminary public providing (IPO). Medi Assist IPO would be the first main market sale by an insurance coverage third-party administrator (TPA) in India. The IPO might be a proposal of sale of as much as 28,028,168 fairness shares by the promoters and current shareholders, together with Dr Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II, Bessemer Health Capital LLC and Investcorp Private Equity Fund I.
TPAs are appointed by insurance coverage corporations for settlement of well being coverage claims. TPAs handle documentation and processing of claims for the insurer to make the ultimate settlement.
The Bengaluru-based Medi Assist is the biggest well being advantages administrator in India, by way of income and premium companies.
Bessemer Ventures and Dr Vikram Jit Singh Chhatwal are the promoters of Medi Assist, with a stake of 45.51 per cent and 31.63 per cent respectively. Investcorp holds a 21.65 per cent stake within the firm.
Axis Capital, Edelweiss Financial Services, IIFL Securities and SBI Capital Markets are the service provider bankers to the difficulty.
