Medi Assist Healthcare Services Ltd has initiated a structural change in its Board leadership by altering the designation of Dr. Vikram Jit Singh Chhatwal from Whole-Time Director to Non-Executive, Non-Independent Director, effective August 08, 2026. This transition, which takes effect at the close of business hours on that date, is designed to separate the roles of Chairman and executive management, thereby strengthening the company’s governance framework and succession planning. Consequently, Dr. Chhatwal will cease to be a Key Managerial Personnel of the company while continuing on the Board as Chairman liable to retire by rotation.

The Board of Directors approved the change based on the recommendation of the Nomination and Remuneration Committee. The decision was formalized during a Board meeting that commenced at 1:45 p.m. (IST) and concluded at 3:00 p.m. (IST) on August 08, 2026. The approval remains subject to the consent of the company’s members and any other regulatory approvals required under applicable laws.

Dr. Chhatwal, who holds DIN 01606329, brings extensive experience to his new role. He holds a Bachelor’s degree in Medicine and Surgery from Jawaharlal Nehru Medical College, a Doctor of Philosophy from the National University of Singapore, a Master’s Degree in Business Administration in International Management from École Nationale des Ponts et Chaussées, Paris, and a Post-Graduate Diploma in Public Health Administration from the Institute of Healthcare Administration, Chennai. Prior to joining Medi Assist, he served as CEO of Reliance Health and CEO of Apollo Health Street, part of the Apollo Hospitals Group.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company confirmed that Dr. Chhatwal is not debarred from holding the office of Director pursuant to any SEBI Order or other statutory authority. There are no disclosed relationships between directors regarding this appointment.

Governance Implications

The separation of the Chairman and Chief Executive roles is a key corporate governance best practice aimed at enhancing board independence and oversight. By moving Dr. Chhatwal to a non-executive role, Medi Assist seeks to ensure clearer accountability structures while retaining his strategic guidance as Chairman. The change underscores the company’s commitment to aligning its leadership structure with global governance standards, particularly relevant given Dr. Chhatwal’s background in international healthcare management.

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.