United States-based healthcare benefits major Aetna International may set up a health insurance company in India.

“You can say that we are actively looking at the Indian health insurance industry, although, reforms in insurance have been talked about, they have not happened so far,” said Sandip Patel, president, Aetna International, on the sidelines of the India Economic Summit.

However, when asked if Aetna is in discussions with any domestic company, Patel said he is not authorised to discuss plans and that he would not comment on market speculations.

After exiting India 10 years ago, Aetna entered India this year by acquiring Indian Health Organisation (IHO), an Indian startup that offers consumers access to quality medical and dental care at a savings through a credentialed provider network. The acquisition marked Aetna International’s entry in India’s healthcare sector to tap potential for managed-care companies.

“Insurance companies are not addressing primary care. You have to start from here,” said Patel.

Indian Health Organisation has a network of 3,000 doctors, dentists, clinics and labs, as well as preventive care and wellness programmes. It has a customer base of 80,000 members. While this acquisition allowed Aetna to diversify into a new geography, it is also aligned with its long-term strategy of providing healthcare services that focus on wellness and prevention domain.

“In the past three-four years, we are working on building an international footprint. We have launched operations in Shanghai, Beijing, Hong Kong and Jakarta. We entered Singapore last year. We also have a large presence in West Asia and Europe,” said Patel.

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