Medi Assist Healthcare Services has completed the acquisition of an additional 31.75% stake in its UK subsidiary, Mayfair We Care Limited, for a total consideration of Rs. 7,56,79,379.98. The transaction, effective July 1, 2026, involved the purchase of 1,270 ordinary shares via share transfer from existing shareholders. Consequently, the company's total shareholding in Mayfair has increased from 60% to 91.75% of the issued share capital, solidifying its international presence in the health administration sector.

The consideration of Rs. 7,56,79,379.98 is equivalent to GBP 589,270 based on the remittance date. This strategic expansion aligns with the company's objective to enhance cross-border health administration services. The funding for the acquisition was sourced from proceeds raised via preferential allotment allocated for general corporate purposes, which the company stated does not deviate from the objects approved by shareholders.

Leadership transitions accompanied the acquisition to streamline operations. Mr. Nikhil Chopra, currently the Chief Business Officer of Medi Assist Healthcare Services and Director of Mayfair, has assumed the role of Chief Executive Officer of Mayfair effective July 1, 2026. Mr. Michail Chopra has transitioned from the position of CEO to Founder & Strategic Advisor.

Financial Performance of Mayfair We Care Limited

For the financial year ending March 31, 2026, Mayfair We Care Limited reported a turnover of INR 410.85 Million and a net profit of INR 16.31 Million. The entity operates as an insurance intermediary, providing health claim and health benefits administration services to the global health insurance market. The completion of this stake acquisition marks a significant step in Medi Assist's growth strategy within the UK market.

Medi Assist Healthcare Services has informed the stock exchanges regarding the status of the Scheme of Amalgamation between its wholly owned subsidiaries, International Healthcare Management Services Private Limited and Mayfair Consultancy Services India Private Limited. In a regulatory filing dated May 20, 2026, the company disclosed that the Regional Director, South Western Region, Bengaluru, has referred the matter to the Hon'ble National Company Law Tribunal (NCLT), Bengaluru.

The Regional Director's order, dated May 19, 2026, highlighted that the application for the fast-track merger under Section 233 of the Companies Act, 2013, was not in compliance with statutory pre-conditions. Specifically, the order noted that a general meeting of the shareholders was not conducted as required under Section 233(1)(b) of the Act. Furthermore, the scheme did not provide for consideration or a share swap ratio backed by a valuation report, which resulted in a reduction of the share capital of the Transferee Company.

The authorities observed that the scheme, as presented, did not qualify for the fast-track merger route. Consequently, the Regional Director rejected the RD-1 form and forwarded the application to the NCLT, Bengaluru, for consideration under Section 232 of the Companies Act, 2013. The company clarified that the Scheme of Amalgamation is an internal restructuring process and that this order does not impact the consolidated financial statements of Medi Assist Healthcare Services Limited.

The following table outlines the key entities involved in the scheme:

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE456Z01021/d619c5fa6a2340c0.pdf