Team Metabolic Health

While it aims to build a unique ecosystem with insurance intermediary Vidal Health, larger rival Medi Assist has upped the ante by making its own acquisition.

For four years, Bajaj Finserv Health (BFH) was working in a supporting role in India’s Rs 31,075 crore (US$370 billion) healthcare industry—facilitating doctor consultations and health checkups to its 400-odd corporate clients. This year, it decided to step into the spotlight.

“Our approach is to look at the entire healthcare journey of an individual and provide solutions that make it smoother, easier, and cashless,” Devang Mody, chief executive of BFH, told The Ken.

As the company’s vision evolved, so did its business strategy: it acquired 22-year-old Vidal Healthcare, a third-party administrator (TPA), in January. The fact that Vidal is one of the top three TPAs in the country only made the case for its acquisition stronger.

Now, in its additional role, BFH will also process and settle insurance claims between health insurers and the insured.

Credit: the-ken.com