~ Becomes one of the top three TPAs in the country ~
Bangalore, 9th March 2021: Vidal Health Insurance TPA Private Limited (Vidal Health) today announced the 100% acquisition of Vipul Medcorp Insurance TPA Pvt Ltd (VMC). Pursuant to the acquisition, VMC will merge into Vidal Health, to create one of the top three TPAs (Third Party Administrator) in the country .
Commenting on the new acquisition, Girish Rao, Chairman & Managing Director, Vidal Health shared, “The business synergies of VMC and Vidal Health are remarkable. Both businesses complement each other’s strength in business verticals and geographical spread. We have been extremely successful in servicing customers across segments since nearly two decades. We are already the leaders in servicing govt schemes in many states across the country. Our strength in servicing large corporate accounts is well known. This acquisition will give us similar scale in servicing retail individual customers. By bringing VMC’s business under the Vidal Health umbrella, we will now have a strong pan-India presence of customers and offices, which will allow us to service our customers’ needs even faster.”
Commenting on another parallel acquisition made by the Group, Mr. Rao added “Vidal Health Group was an early mover in making an international foray six years ago. Vidal Health Group’s healthcare management (non-TPA) business segment has a large global network of providers to service our customers in the Middle East. [Along with this acquisition, Vidal Healthcare Services Private Limited (VHC), the parent entity of Vidal Health has also acquired a group company of VMC- Vipul Medcare Private Limited]. Pursuant to this acquisition Oman has been added to our already large presence in Dubai, Abu Dhabi and Qatar. We have also been investing in building a cutting-edge technology platform to service our customers. We are future ready to meet all the requirements of our insurance partners and customers. Customer satisfaction is at the core of our business and will remain the guiding principle for the merged entity”, Rao further added.
Vidal Health Group helps customers stay healthy. VHC’s well-developed wellness program allows customers to manage their health as per their needs of fitness, diet or medication. This is delivered through a wellness-platform which can be accessed through an App or through web-service. Through this platform VHC also offers tele-consultation and OP facility with over 4,000 physicians and specialists. The customers can avail of attractive discounts on pharmacy and diagnostics orders through this platform too.
Rajan Subramaniam CEO of Vipul Medcorp said, “This merger will bring out the best from VMC and Vidal Health and set us up to deliver the best of the best services to customers. We are excited to be a part of this merger.”
About Vidal Health: Vidal Health is a leading player in the healthcare segment. Be it employees of large corporates, SME’s or Individual customers Vidal Health’s customer centricity has been setting new benchmarks. They have carried the same unwavering commitment to deliver outstanding service to citizens across India covered by Ayushman Bharat-PMJAY and State health policies. Apart from being India’s most preferred TPA (third party administrator) with over 140 million lives managed with 12,000+ hospitals and 20,000+ OP clinics they have a 60% share of State and Central Govt policy implementation. Their provider network partnerships extend to Asia, Europe and North America. Within India they have offices and staff presence across 800 cities in 310 districts. Their 2000+ strong team spread across 3 countries prioritizes customer satisfaction. They aim to deliver this via quick and easy access to high quality health care in a cost-effective manner with speed, efficiency, and care.
