Medi Assist Healthcare Services Ltd IPO

Its business is conducted through the Company, Medi Assist Healthcare Services Limited, which is a holding company and proposed to be listed following the Offer, and through its nine subsidiaries of which four are direct subsidiaries and five are indirect subsidiaries.The Company provides third party administration services to insurance companies through its wholly owned Subsidiaries, Medi Assist TPA, Medvantage TPA (from February 13, 2023) and Raksha TPA (from August 25, 2023). A third party administrator is an organization that processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management, among others. As a third party administrator, the company acts as a facilitator between (a) insurance companies and their policy holders, (b) insurance companies and healthcare providers (such as hospitals), and (c) the Government and beneficiaries of public health schemes. Its Subsidiaries, Medi Assist TPA and Medvantage TPA, contributed to 96.32% of its revenue from contracts with customers in the Financial Year 2023 and its Subsidiaries, Medi Assist TPA, Medvantage TPA and Raksha TPA contributed 92.98% of its revenue from contracts with customers in the six months ended September 30, 2023.The Company also facilitates other healthcare and ancillary services such as hospitalization services, call centre services, customer relations and contract management services, billing services and claims processing services through the Company and its other Subsidiaries, IHMS, Mayfair India, Mayfair UK, Mayfair Group Holding, Mayfair Philippines and Mayfair Singapore. The Company has developed a pan-India healthcare provider network which comprises 18,754 hospitals across 1,069 cities and towns and 31 states (including union territories) in India and network across 141 countries globally, as on September 30, 2023.