Medi Assist Healthcare Services shares surged nearly 14% to a record high early on Tuesday, August 27. The stock peaked at ₹639 on the National Stock Exchange (NSE) shortly after trading began, marking a 13.75% increase from the previous closing price. This rise pushed the stock up about 39% from its post-IPO listing price of ₹460, which debuted on January 23, 2024. By noon, the shares had settled slightly but were still 8.5% higher, trading at ₹609.6 on the NSE. The surge in Medi Assist's stock price is linked to a major announcement made after market hours on Monday. Medi Assist revealed that it will fully acquire Paramount Health Services & Insurance TPA in a deal valued at over ₹400 crore. The acquisition will be carried out by Medi Assist Insurance TPA, a wholly-owned subsidiary of Medi Assist Healthcare Services. The deal involves acquiring Paramount from Fairfax Asia and the Shah family.