Safe­crop Hold­ings to buy Star Health

India Business Journal - - NEWS ROUND-UP -

Safe­crop Hold­ings, a con­sor­tium com­pris­ing WestBridge AIF, Rakesh Jhun­jhun­wala and Madi­son Cap­i­tal, is to ac­quire stand­alone pri­vate health in­surer Star Health and Al­lied In­sur­ance. Though the trans­ac­tion value has not been dis­closed, the deal is re­ported to be val­ued at close to $1 bil­lion. Chen­nai­head­quar­tered Star Health, founded in 2006, is In­dia's first and cur­rently the largest stand­alone health ven­ture. As

of March 2018, it had a mar­ket share of about 11 per cent in health in­sur­ance. The com­pany has a net­work of 434 of­fices, about 2.4 lakh agents and tie-ups with around 8,500 hos­pi­tals.

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