I-Care Health Management and TPA Services Pvt Ltd has merged with Good Health Plan Ltd, an eight-year-old third party administrator company for health insurers.
“Actually, this is a reverse merger as I-Care Health Management has bought almost complete stake in Good Health Plan,” Mr R.K.T. Krishnan, Chief Executive Officer of Good Health Plan, told Business Line here on Tuesday.
The merged entities, which are based out of Hyderabad, will continue to be called as Good Health Plan in view of its brand strength, he added.
The financial aspects of the deal have not been disclosed.
Global Health Plan has eight branches now including those in Hyderabad, Mumbai and Delhi and is servicing a servicing premium of Rs 100 crore a year. “We are expecting this merger to provide us with a platform to launch the services with cashless facilities across larger number of hospitals, improved customer practices and to reach a wider market,” Mr Krishnan said.