Medi Assist Healthcare Services Limited has completed the dispatch of its postal ballot notice and published mandatory newspaper advertisements regarding the director appointment proposal. The healthcare services company announced the completion of dispatch on March 28, 2026, following the initial notice issued on March 27, 2026.

Postal Ballot Process Update

The company has fulfilled regulatory requirements by publishing newspaper advertisements in Business Line (English) and Navshakti (Marathi) newspapers on March 28, 2026. These advertisements confirm the completion of postal ballot notice dispatch and provide essential e-voting information to shareholders.

Director Appointment Proposal

The postal ballot seeks approval for the appointment of Ms. Sunita Rebecca Cherian (DIN: 10188170) as a Non-Executive, Non-Independent Director of the company. Ms. Cherian was initially appointed as an Additional Director by the Board of Directors on February 06, 2026, based on the recommendation of the Nomination and Remuneration Committee.

Professional Background

Ms. Cherian brings extensive experience in human resources and organizational leadership to the board. She previously served as Chief Culture Officer & Senior Vice President – Corporate Human Resources at Wipro Limited, where she was a member of the Wipro Executive Committee.

Regulatory Compliance and Documentation

The company has ensured full compliance with regulatory requirements under Regulation 30 and Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The newspaper advertisements and postal ballot notice have been uploaded on the company's website at www.mediassist.in .

Voting Process and Support

The company has engaged MUFG Intime India Private Limited (formerly Link Intime India Private Limited) as the Registrar and Transfer Agent to provide remote e-voting facilities. The scrutinizers appointed for the postal ballot process are Mr. Pramod S M (Membership No.: F7834, COP No.: 13784) and Mr. Biswajit Ghosh (Membership No.: F8750, COP No.: 8239) from M/s. BMP & Co. LLP.

Shareholders can contact the support team for any grievances or clarifications regarding the e-voting process. The company has provided multiple contact channels including email support at enotices@intime.mufg.com and telephone support at 8108116767.

Strategic Significance

Ms. Cherian's appointment marks a positive step in the company's commitment to inclusive governance, as she will serve as the third woman director on the board, further strengthening gender diversity in leadership. Her expertise spans multiple critical areas including people management, organizational design, talent sustainability, and diversity & inclusion initiatives.

The Board of Directors and Nomination and Remuneration Committee believe Ms. Cherian's appointment will bring significant strategic value to the company through her extensive experience in leadership development, business strategy, and organizational transformation.

Medi Assist Healthcare Services Limited announced that Care Ratings Limited has reaffirmed the credit rating for facilities availed by its wholly owned subsidiary, Medi Assist Insurance TPA Private Limited. The rating action demonstrates continued confidence in the subsidiary's financial strength and market position in the third-party insurance administration sector.

Credit Rating Details

The rating reaffirmation covers total credit facilities worth ₹266.00 crore across different instruments:

The enhancement of long-term/short-term bank facilities from ₹94.00 crore to ₹114.00 crore indicates expanded credit access for the subsidiary's operations.

Rating Rationale and Key Strengths

Care Ratings highlighted several factors supporting the rating reaffirmation. The subsidiary benefits from strong parentage of Medi Assist Healthcare Services Limited, which holds a CARE AA-; Stable/CARE A1+ rating and provides demonstrated financial and operational support. The company maintains a leadership position in the third-party insurance administration industry with established relationships driving higher retention rates.

The rating agency noted the acquisition of 100% stake in Paramount Health Services & Insurance TPA Private Limited by Medi Assist Insurance TPA in July 2025 for ₹412 crore, which further strengthens market leadership. The subsidiary initially funded this acquisition through bridge debt of ₹150 crore, infusion of ₹90 crore from the holding company, and internal accruals. However, as of January 15, 2026, the bridge debt was entirely repaid using internal accruals and unsecured loans from the parent company.

Financial Performance and Growth

The subsidiary demonstrated robust growth with total operating income increasing 13% year-on-year to ₹667.89 crore in FY25 from ₹591.73 crore in FY24. Premiums under management grew 11% to ₹21,108 crore in FY25 from ₹19,050 crore in the previous year, supported by inorganic acquisitions.

The company expects premiums under management to reach approximately ₹26,500 crore in FY26, supported by the Paramount TPA acquisition and growing demand in the health insurance sector.

Market Position and Outlook

Medi Assist Insurance TPA maintains strong market presence with approximately 21.3% market share in terms of premiums under management in the overall health industry as of September 30, 2025. The company holds 32.2% market share in the group insurance segment and 5.3% in the retail insurance segment.

The subsidiary services over 10,500 corporate clients with a retention rate of 94% and operates through a network of over 20,000 hospitals across India. It maintains partnerships with 32 insurers as of November 30, 2025, with 19 insurers exclusively opting for its TPA services.

Care Ratings assigned a stable outlook, reflecting expectations that the company will continue benefiting from its leadership position, established insurer relationships, and strong corporate client base. The rating agency expects total operating income growth of 27-28% in FY26, supported by the Paramount TPA acquisition.

Source: None/Company/INE456Z01021/8b27c8ec-a529-4b26-b6de-ac639341d154.pdf