Medi Assist Healthcare Services has reported a strong FY26 performance, driven by robust growth in its core third-party administration (TPA) business, rapid expansion of its technology platforms, and increasing adoption of AI-powered healthcare claims solutions.
The company posted operating revenue of ₹904.8 crore in FY26, marking a 25.1% year-on-year growth. Its core TPA business grew 25.5%, while new business lines expanded 30.7%, reflecting growing demand for digital healthcare administration and seamless claims management.
The Bengaluru-based health benefits administrator also strengthened its balance sheet during the year, becoming debt-free from January 2026 and ending the fiscal with ₹260.5 crore in free cash. EBITDA stood at ₹174.6 crore, up 13.3% year-on-year, with Q4 EBITDA margins improving to 19.9%.
AI-driven claims ecosystem expands
Medi Assist said its integrated technology platform has become central to its growth strategy, helping insurers, employers and hospitals improve healthcare cost control and claims transparency.
The company’s AI-powered infrastructure is now processing nearly one million claims every month, enabling faster turnaround times, higher automation and real-time visibility across the claims lifecycle.
A key contributor was MAven Guard, the company’s AI-based fraud detection engine, which helped prevent nearly ₹540 crore worth of health insurance fraud during FY26. The company said the platform has strengthened its position in healthcare cost optimisation amid rising insurance claims inflation.
Its proprietary technology business also recorded sharp momentum, with revenues from tech platforms surging 91.9% year-on-year. MAtrix, Medi Assist’s modular API-first healthcare administration platform, is now being used by multiple private insurers.
Hospital network and member services scale up
Medi Assist continued expanding its healthcare network during the year. More than 12,000 hospitals submitted claims actively every month, while another 14,000 hospitals were added through its Cashless Everywhere initiative.
The company’s Raksha Prime platform also witnessed significant adoption, enabling over 3.22 lakh patients to experience bill-free and zero-wait hospital discharges across nearly 6,000 hospitals during FY26.
In addition, Medi Assist launched MAgnum, a hospital-focused digital platform aimed at improving workflow efficiency and enabling self-service activation of Raksha Prime.
The company also accelerated the integration of Paramount TPA onto its proprietary technology stack, which it said improved automation, operational efficiencies and digitally processed claims volumes.
Market share gains continue
Medi Assist administered total group and retail premiums worth ₹25,923.2 crore during FY26, up 22.8% year-on-year. Its share of group and retail premiums under administration expanded to 20.7%, while its group market share rose to 33.7%. The company processed over 100 lakh claims during the year across inpatient and outpatient segments.
Medi Assist CEO Satish Gidugu said FY26 marked a milestone year for the company as it combined strong financial growth with large-scale technology transformation.
He added that the company’s AI-powered platforms, expanding insurer partnerships and global healthcare collaborations position Medi Assist to build the next generation of intelligent and borderless healthcare administration.