Tata Fund picks up 14% stake in Star Health

Written by feBureau | Chennai | Updated: Apr 6 2013, 07:12am hrs
Tata Venture Capital Fund has picked up close to 14% stake in standalone health insurance company Star Health and Allied Insurance Company for a consideration of R120 crore. This follows after ICICI Venture and Sequoia had earlier picked up substantial stake with combined investments of R270 crore or so. Following which, the company's capital base has gone upto R549 crore, said V Jagannathan, the chairman and managing director of Star Health.

Speaking to reporters after announcing India's first-of-its-kind insurance policy for cardiac care, he said: We completed the deal a few days ago. The promoters have diluted their stake to accommodate Tata Fund into our company. We are now comfortably capitalised and we don't see any more fund raising in the near term.

Star Health launches cardiac policy

Chennai : For the first time in India Star Health and Allied Insurance Company, India's first standalone health insurance company, has introduced a policy exclusively for cardiac care called `Star Health Cardiac Care', a policy aimed at helping lakhs of people those who underwent CABG/PTCA procedures, said V Jagannathan, CMD of Star Health.

Addressing a gathering on Friday, he said the policy has two plan options and offers to cover regular health cover and also a specific cover to take care of cardiac related complications.