Bajaj Finserv Health, a completely owned subsidiary of Bajaj Finserv, is buying one hundred pc stake in Vidal Healthcare Services Pvt Ltd, a regulatory submitting mentioned on January 30.

The acquisition has taken place at an enterprise worth of Rs 325 crore and is anticipated to shut within the fourth quarter of economic 12 months 2023-24, a launch acknowledged.

Upon completion of the acquisition, Vidal Healthcare Services and its subsidiaries shall turn out to be wholly owned subsidiaries of Bajaj Finserv Health, it added.

After this transaction, Vidal Health Insurance TPA Pvt Ltd and VH Medcare Pvt Ltd, two wholly owned subsidiaries of Vidal Healthcare Services, would in flip turn out to be oblique wholly owned subsidiaries of Bajaj Finserve Health.

Further, Bajaj Fiserv Health would not directly purchase 21.3 p.c fairness stake in IntentHealth Technologies Pvt Ltd, which is an affiliate of Vidal Healthcare Services, the trade submitting added.

“Vidal Health brings deep domain knowledge and vast experience in healthcare administration in India. This, combined with Bajaj Finserv Health’s superior digital experience and data management prowess, enables the company to be uniquely placed to lead healthcare transformation that is underway in India,” mentioned Devang Mody, Chief Executive Officer, Bajaj Finserv Health.

Bajaj Finserv Health have an intensive community protecting over 1,00,000 docs, 5,500 lab contact factors and a pair of,100 hospitals. The firm is recognised as a accomplice within the Ayushman Bharat Digital Mission and a key participant in facilitating healthcare transactions on the Unified Health Interface (UHI) community.

The acquisition of VHC considerably expands Bajaj Finserv’s capabilities within the healthcare house, empowering it to service shopper wants for hospitalisation, one of many largest healthcare spends classes, the trade submitting additional famous.

Vidal Healthcare’s wholly owned subsidiary, Vidal Health Insurance TPA Pvt Ltd (VHITPA), providers premium of over Rs 5,000 crore, protecting 130 million lives.

JM Financial Limited acted because the unique monetary advisor for Bajaj Finserv Health, whereas Ernst & Young carried out Financial and Tax Due Diligence and Chitale Legal had been the authorized advisors.

PwC Corporate Finance acted because the unique monetary advisor to Vidal Health.