Medi Assist Healthcare Services, an insurtech firm, has raised ₹198 crore from the Massachusetts Institute of Technology (MIT) and 238 Plan Associates LLC (an affiliate of MIT).
The investment was secured through a preferential allotment on a private placement basis.
Under the preferential allotment, Medi Assist has issued 37,01,000 fully paid-up equity shares with a face value of ₹5/- each, at an issue price of ₹535 per share, for a total consideration of ₹198 crores. The issue of shares under preferential allotment received unanimous approval from the Board of Medi Assist at their meeting held on August 7, 2025, and was strongly supported by shareholders in an Extra-ordinary General Meeting (EGM) held on September 4, 2025, with an overwhelming 99.15% of votes cast in favor of the transaction.
This capital infusion closely follows the acquisition of Fairfax-owned Paramount Health Services & Insurance TPA in July 2025 by Medi Assist Insurance TPA, a wholly-owned subsidiary of Medi Assist and Medi Assist’s strategic collaboration for technology solutions in June 2025 with Star Health Insurance and Allied Services, a private and retail segment health insurer.
Satish V N Gidugu, Chief Executive Officer, Medi Assist, said, “This investment from MIT unequivocally reaffirms Medi Assist’s mission to spearhead India’s digital health transformation. Technology remains at the core of our operations, enabling us to make healthcare simpler, faster, and more transparent. We are steadfast in our commitment to accelerate innovation in AI-led health benefit solutions that improve member experience and payer outcomes elevating healthcare access to an unprecedented level for millions of people.”
