Vidal Health Insurance acquires Vipul MedCorp for business expansion

  • Through this acquisition, Vidal Health Insurance will be able to become one of the top three TPAs in the country.
  • The company claims that it manages policies of 140 million people and has a network of 12,000 hospitals and more than 20,000 OPD clinics.

In a view to become one of the top Third Party Administrators in the country, Bengaluru-based Vidal Health Insurance TPA has acquired 100% stakes of its competitor Vipul Medcorp Insurance TPA (VMC) for an undisclosed amount to expand the business presence in the retail segment.

Post-acquisition, Vipul Medcorp will be merged with Vidal Health Insurance to become one of the top three TPAs (Third Party Administrator) in the country. According to the GIC report, United Health Care Parekh Insurance is the top player in the TPA segment, followed by, Medi Assist Insurance TPA Private Limited.

A third-Party Administrator is an organization that processes health insurance claims admissible under the Mediclaim policy.

Speaking on the development, Girish Rao, Chairman & Managing Director, Vidal Health Insurance, said, “Both businesses complement each other’s strength in business verticals and geographical spread. 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.” The deal will help the company to expand their business in Oman, he said.

According to the reports, the deal will be completed in the next four to five months, after that, Vipul Medcorp customers will be serviced by Vidal Health Insurance.

Founded in 2002 by Girish Rao, IRDA-licensed Vidal Health Insurance TPA Private Limited provides third-party administration services, wellness products, programs, and a connected healthcare management eco-system based on technology and innovation.

The company claims that it manages policies of 140 million people, and has a robust network of 12,000 hospitals and more than 20,000 OPD clinics. It also claims that it processes over 1 million claims and 800,000 pre-authorization requests annually.

Vidal Health currently has its presence in 800 cities, with over 35 million members and 10000 empanelled service providers. It also has a presence in the middle east countries including UAE and Qatar. The company said that it has a 60% share of state and central government policy implementation.

Also Read: Healthcare Startup Phable Raises $12 Million From Manipal Hospitals And US-Based SOSV

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.”

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