Bajaj Finserv Health, a wholly owned subsidiary of Bajaj Finserv, today announced the acquisition of 100% stake in Vidal Healthcare Services (VHC).
Bajaj Finserv Health is a digital-first health tech company having an extensive network covering over 1,00,000 doctors, 5,500 lab touch points and 2,100 hospitals. The company is a wave 1 partner with Ayushman Bharat Digital Mission and a key player in facilitating healthcare transactions on the Unified Health Interface (UHI) network. Bajaj Finserv Health has also been awarded by the National Health Authority (NHA) for facilitating the highest number of tele-consultations on UHI in December 2023.
The acquisition of VHC significantly expands Bajaj Finserv's capabilities in the healthcare space, empowering it to service consumer needs for hospitalization, one of the largest healthcare spends categories.
Vidal Healthcare (VHC) is among India's largest healthcare administrators. VHC's wholly owned subsidiary, Vidal Health Insurance TPA (VHITPA), services premium of over Rs. 5,000 crore, covering 130 million lives. VHITPA has significant presence in servicing Corporate Group policies, Retail Insurance as well as Government Health schemes. VHC's international business provides Insurtech solutions and Knowledge Process Outsourcing (KPO) services to global insurance and health administrators.
The acquisition now enables Bajaj Finserv Health to offer OPD, wellness, as well as hospitalization benefits to customers, thereby providing continuum of care. The acquisition also helps Bajaj Finserv Health play a pivotal role in various healthcare initiatives of the government and the insurance regulator.