Paramount TPA now has
a new home as a Medi Assist Company!!

As you may be aware, Medi Assist Insurance TPA Pvt. Ltd. ("MAITPA") acquired 100% of the shareholding of Paramount Health Services & Insurance TPA Pvt. Ltd. ("PHS") on 1-July-2025.

In accordance with regulatory norms, an acquired TPA's business is usually integrated into the acquirer's operations. Consequently, on 6^th February 2026, the Board of Directors of MAITPA and PHS approved the transfer of the TPA business of Paramount by way of a slump sale to MAITPA.

PHS has been a trusted partner in the health insurance industry to many insurance companies, corporates, brokers, agents and hospitals for over 20 years. MAITPA is India's largest Third Party Administrator and acts as a facilitator between (a) insurance companies and their policyholders, (b) insurance companies and healthcare providers (such as hospitals), and (c) the Government and beneficiaries of public health schemes.

This business transfer is effective as of 1^st February, 2026 and brings together two of the largest and most reputed TPAs in India.

PHS stakeholders get access to the Medi Assist group's technology platforms and AI-powered solutions, and the combined organizational benefits of PHS's trademark service ethos and talent.

We intend to ensure a stable and seamless transition, pursuant to which MAITPA aims to ensure continuity for all transitioning PHS services. All operating structures, including teams, communication channels and service levels shall remain unchanged for the immediate future, unless communicated otherwise. Upon complete transitioning of PHS' TPA services, PHS will surrender its TPA license, and the residual Paramount entity will undergo a name change post the regulatory acceptance of the surrender application.

MAITPA will ensure that all existing and new claims, grievances and regulatory compliances will be addressed in a timely manner, in accordance with the terms of the applicable SLAs, and without any detrimental impact to policyholders, insurers, corporates or network providers.

All PHS personnel will be transitioned to Medi Assist on the same or better terms, with new opportunities for growth and development. Medi Assist will remain fully responsible for any outstanding obligations, statutory and contractual, with respect to such personnel, as well as any existing/ongoing obligations of PHS under any vendor. agreements.

We are confident that this integration will be beneficial to all stakeholders and we look forward to your support in forging a bright new future as a unified organization.

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