Bajaj Finserv Health acquires Vidal Healthcare Services for $39Mn

PUNE, INDIA — Medical firm Bajaj Finserv Health has acquired Vidal Healthcare Services for Rs 325 crore (US$39.2 million).

The deal, which is expected to close by March, will allow Bajaj Finserv Health to offer outpatient department services, wellness, and hospitalization benefits. 

The Pune-based company network is made up of 100,000 doctors, 5,500 laboratories, and 2,100 hospitals.

As part of the deal, Vidal Healthcare Services and its subsidiaries will transfer ownership to Bajaj Finserv Health. Vidal’s existing clients will continue receiving services, and its core management team will remain.

The Mumbai-based Vidal also provides insurtech solutions and knowledge process outsourcing (KPO) services to global insurance and health administrators.

Bajaj Finserv Health, is the wholly-owned healthcare arm of financial services company Bajaj Finserv. 

The group serves over 200 million customers with a portfolio that includes savings products, consumer and commercial loans, mortgages, auto financing, securities brokerage services, general and life insurance, and investments.

JM Financial served as the advisor to the acquisition.