Medi Assist Healthcare Services Limited ( medi assist healthcare ) has appointed Gaurav Bhatnagar as Senior Managerial Personnel, effective August 08, 2026. The Board of Directors approved the appointment following a recommendation from the Nomination & Remuneration Committee, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015. Bhatnagar joins Medi Assist Insurance TPA Private Limited, a wholly owned subsidiary, as Chief TPA Officer.

The hiring underscores the company’s strategic focus on enhancing operational efficiency and integrating technology within its Third Party Administration (TPA) business. Bhatnagar will report directly to the CEO and be based in Bengaluru. His mandate involves driving operational excellence and leveraging technology to support growth in health benefits administration, aligning operations with India’s evolving cashless healthcare ecosystem.

Professional Background

Bhatnagar brings over 18 years of global experience in general management, value creation, and tech-led transformation across technology/SaaS, private equity, e-commerce, and services sectors. His career includes leadership roles at major global organizations:

Strategic Rationale

Satish Gidugu, CEO of Medi Assist Group, emphasized Bhatnagar’s ability to combine data, technology, and high-performing teams to solve complex problems at scale. "Gaurav has consistently built businesses that are both highly efficient and deeply customer-centric," Gidugu said. "What sets him apart is his ability to bring data, technology, and high-performing teams together to solve complex problems at scale — precisely the mindset healthcare administration needs as India moves towards a seamless, cashless future."

Bhatnagar highlighted the rapid evolution of healthcare delivery in India. "Medi Assist sits at the centre of the healthcare ecosystem, and the opportunity to shape how millions of members experience care is what drew me here," he said. "I look forward to working with the team, our partners and stakeholders."

About Medi Assist

Medi Assist provides health benefits administration services and technology platforms to the health insurance ecosystem. Through its subsidiary, Medi Assist TPA, it facilitates interactions between insurance companies, policyholders, hospitals, and government beneficiaries. Additionally, through Mayfair We Care, the company provides benefits administration services to Indian corporates, insurers outside India, and global insurers. The company is listed on the National Stock Exchange of India Limited and BSE Limited.

Medi Assist Healthcare Services Limited reported a consolidated net profit of ₹275.97 million for the quarter ended June 30, 2026, marking a 21.9% increase from ₹226.31 million in the corresponding period of the previous year. Revenue from operations rose 24.1% year-on-year to ₹2,365.19 million, driven by higher volumes and the inclusion of Paramount Health Services and Insurance TPA Private Limited following its acquisition. The Board of Directors also approved a final dividend of ₹2 per equity share for financial year 2025-26, with the record date fixed for September 11, 2026.

The company’s standalone net profit grew more sharply to ₹131.52 million, up 64.0% from ₹80.20 million in Q1FY25. Standalone revenue from operations increased to ₹589.84 million from ₹437.04 million. Statutory auditors MSK A & Associates LLP issued an unmodified review report on the unaudited financial results, which were prepared in accordance with Ind AS 34 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Financial Metrics

Governance and Leadership Changes

In a move to separate the roles of Chairman and executive management, Dr. Vikram Jit Singh Chhatwal will demit his office as Whole-Time Director effective August 08, 2026. He will continue on the Board as a Non-Executive, Non-Independent Director and Chairman. Concurrently, Gaurav Bhatnagar was appointed as Senior Managerial Personnel and joined Medi Assist Insurance TPA Private Limited as Chief TPA Officer. These changes were recommended by the Nomination and Remuneration Committee and disclosed under Regulation 30 of the SEBI Listing Regulations.

Regulatory and Operational Updates

The statutory auditors included an emphasis of matter regarding a search and seizure operation conducted by the Enforcement Directorate at certain offices of Medi Assist Insurance TPA Private Limited in Ranchi, Jharkhand, on April 04, 2025. Management stated that there is no adverse impact on the company and no adjustment is required in the current quarter’s results. Additionally, the company completed the acquisition of an additional 31.75% equity stake in Mayfair We Care Limited effective July 01, 2026, recognizing a gain of ₹31.18 million from the remeasurement of derivative liability.

What the Numbers Show

The significant divergence between standalone and consolidated profit growth highlights the accretive nature of recent acquisitions. While standalone profits surged 64%, consolidated profits grew 22%, indicating that the newly integrated Paramount TPA operations are contributing substantial revenue but at lower margin profiles compared to the core standalone business. Furthermore, the recognition of a ₹31.18 million gain from the remeasurement of non-controlling interest derivatives underscores the financial engineering involved in consolidating Mayfair We Care Limited.