Raksha TPA, UAE group form venture

Haryana-based Raksha TPA, the country's third-largest health insurance claims administrator, has set up a joint venture in Dubai that will seek to direct patients needing tertiary healthcare to hospitals in India. Tertiary healthcare is specialised medical services that include cancer care, neurosurgery and burns care.

While UAE-based 92-year-old shipping-to-real estate group Rais Hassan Sadi will own 51 per cent stake in RHS-Raksha TPA "� the joint venture, Raksha will hold the remaining 49 per cent, the maximum holding allowed for a foreign company.

"Initially, RHS-Raksha will empanel hospitals in Abu Dhabi and Sharjah and later Oman for cashless treatment of health insurance policyholders. For tertiary care cases, we will consider sending patients to our network hospitals in India," said Pawan Bhalla, CEO, Raksha TPA Pvt Ltd.

Around 5-7 per cent of Dubai's insured population could be treated in India, he added. Ritu Nanda, chairperson and CEO of RNIS College of Insurance, and Rajan Nanda together hold 60 per cent stake in Raksha TPA and the other 40 per cent is held by Naresh Trehan, executive director of Escorts Heart Institute.