Bengaluru-based health insurance firm, Vidal Health Insurance TPA (third party administrator) has announced the acquisition of its rival Vipul Medcorp (VMC). However, the financial details are not revealed, states the official statement that the companies would merge together with the aim to become one of the top three TPAs in India. The third-party administrator is an organisation that processes insurance claims.

Commenting on the acquisition, Girish Rao, Chairman and Managing Director, Vidal Health, states, “Both businesses complement each other’s strength in business verticals and geographical spread. By bringing VMC’s business under the Vidal Health umbrella, we will now have a strong pan-India presence of customers and offices, which will allow us to service our customers’ needs even faster.”

IRDA-licensed Vidal Healthcare would offer TPA services to health insurance policyholders.

According to Girish, this deal would permit them to extend their business in Oman. However, Vidal already present in Dubai, Abu Dhabi, and Qatar.

Vidal offers third-party administration services, wellness products and programs, and has also connected healthcare management eco-system based on technology and innovation.

The company claims to have supported 140 million lives, with over 12,000 hospitals and more than 20,000 OP clinics. They also claim to have a 60 percent share of state and central govt policy implementation.

In India, Vidal claims to have a presence across 800 cities in 310 districts. The company’s robust technology platform offers a wide range of health insurance products and also gives services to manage the customers.

“This merger will bring out the best from VMC and Vidal Health and set us up to deliver the best of the best services to customers. We are excited to be a part of this merger.”