True North to acquire a 51% stake in Max Bupa Health Insurance Company for $71m.

Private equity firm True North agreed to acquire a 51% stake in Max Bupa Health Insurance Company, a health insurance joint venture between Max India and Britain-based Bupa, for $71m. "As the health insurance sector grows in India, True North is looking to build the most trusted brand in health insurance in the country. We believe Max Bupa is one of the best positioned brands and businesses in the sector. The Max Group and Bupa have immensely contributed to the journey of Max Bupa and we look forward to building on the same in partnership with Bupa. Our priority is to work seamlessly with both teams at Max and Bupa through this transition towards the benefit of Max Bupa’s customers, employees and stakeholders,” Divya Sehgal, True North Partner.