Bajaj Finserv health unit acquires Vidal Healthcare for ₹325 Crore

31 Jan 2024 , 02:28 PM

Bajaj Finserv Health, a wholly-owned subsidiary of Bajaj Finserv, purchased the whole stake in Vidal Healthcare Services on Tuesday for ₹325 Crore.

The Pune-based health tech company has a network of approximately 1,00,000 physicians, 5,500 laboratories, and 2,100 hospitals. It is a partner of the Ayushman Bharat Digital Mission and also plays an important role in facilitating healthcare transactions on the unified health interface network.

The transaction, with an enterprise value of ₹325 Crore, is slated to finalise in March. Vidal and its subsidiaries will become wholly-owned subsidiaries of Bajaj Health after the transaction is completed, according to a statement from both firms.

According to the release, the purchase would likely help Bajaj Health extend its capabilities in better addressing clients’ hospitalisation needs.

Vidal Healthcare, situated in Mumbai, is a significant healthcare administrator, and its wholly-owned subsidiary, Vidal Health Insurance TPA, collects over ₹5,000 Crore in premiums and covers 130 million people. It has a large presence in business group policies, retail insurance, and government health plans.

Vidal also delivers insurtech solutions to select worldwide clients, as well as knowledge process outsourcing services to global insurance and health administrations.

The purchase now allows Bajaj Health to provide OPD, wellness, and hospitalisation benefits to consumers, according to Devang Mody, CEO of Bajaj Finserv Health. He also stated that the current core management team will continue to provide services to Vidal TPA’s existing clients.

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