Health insurance third-party administrator Medi Assist Healthcare Services Ltd has bought Raksha Health Insurance TPA Pvt Ltd for an undisclosed amount.
Bessemer Ventures-backed Medi Assist said in a statement that it has entered into a definitive pact to acquire 100% stake in Raksha Insurance TPA.
“With Raksha, we see opportunities to improve the quality of experience across the in-patient and out-patient care across the ecosystem," said Satish Gidugu, director, Medi Assist Insurance TPA.
Founded in 2002, New Delhi-based Raksha Insurance TPA provides health benefits administration and has services connecting the insurer, insured and provider. The TPA services corporates and retail policyholders.
Meanwhile, Medi Assist is a technology-led health benefits administrator and TPA servicing corporates, retail policyholders and public health schemes.
The company aims to capitalise on Raksha TPA's presence, team, and reputation in the industry to grow its pan-India presence and expand its retail portfolio.
This is the company’s fifth TPA acquisition so far.
Earlier, Medi Assist acquired Dedicated Healthcare Services TPA (India) Pvt Ltd in 2016 and Medicare Insurance TPA Services (India) Private Limited in 2018.
Last year, the firm acquired Medvantage Insurance TPA Pvt Ltd (erstwhile UnitedHealthcare Parekh Insurance TPA) and Mayfair We Care (Mayfair), a UK-based healthcare-focused administration service provider.
Sportzcraazy Technologies Pvt Ltd, which operates sports technology and media platform Sportzcraazy, on Monday said it has bought around 80% stake in the kabaddi-focused media content platform Kabaddi Adda.
Financial details of the deal were, however, not disclosed.
With this acquisition, New Delhi-based Sportzcraazy plans to host Kabaddi leagues and tournaments across the country to build local and regional player opportunities.
Founded by Vaibhav Jaiswal and Aditee Gulati, Sportzcraazy covers sports news and updates from around the globe on sports such as cricket, football, kabaddi, real money gaming (RMG), fantasy gaming, and esports content.
The company claims to have kicked off its operations from 2018 under a digital performance marketing company Catalyst Web Trendz Pvt. Ltd. Later, after three years, it branched out and started under the name of Sportzcraazy Technologies Pvt Ltd.
“Sportzcraazy plans to work with kabbadi players through grass root engagement enabling regional players,” said Jaiswal.
Kabaddi Adda offers its users information on kabaddi tournaments and events along with analysis and coverage of the sport. It was started in 2019 by Arvind Sivdas, Suhail Chandok, Dhanya P and Srikanth Viswanathan.
Recently, Kabaddi Adda, which is valued at Rs 13.33 crore, secured Rs 80 lakh from Vineeta Singh (Sugar Cosmetics) and Namita Thapar (Emcure Pharmaceuticals).
Earlier in 2019, it had raised Rs 1.5 crore in a seed funding round from Artha Venture Funds.