Abu Dhabi’s Seventy Second Investment Cleared for Healthcare Deal in India

In recent months, Abu Dhabi has been actively investing in the healthcare sector…reports Asian Lite News

The Abu Dhabi-registered Seventy Second Investment Company, a wholly owned unit of the state-backed Mubadala’s Mamoura Diversified Global Holding, has received clearance from India’s fair-trade regulator, the Competition Commission of India (CCI), for a stake in one of the country’s biggest healthcare facilities, Manipal Health Enterprises.

According to the CCI filing this week, the deal has been approved under the green channel route, which allows for immediate approval at filing, news agency Press Trust of India reported.

Manipal Health Enterprises, which is commonly known as Manipal Hospitals, is a part of the Manipal Education and Medical Group (MEMG), which operates 33 hospitals across 17 cities in India. According to the company website, they are touted as the second-largest hospital chain in the country.

In recent months, Abu Dhabi has been actively investing in the healthcare sector. In November, the Abu Dhabi Investment Authority (ADIA) and Malaysia’s Employees Provident Fund backed the $1.2 billion takeover of southeast Asian hospital operator Ramsay Sime Darby Healthcare by private equity firm TPG and Hong Leong Group.

The acquisition was the biggest conducted by ADIA in the healthcare, life sciences and pharma sectors since it participated in the $1.6 billion takeover and recapitalisation of US-based veterinary company Amerivet in March 2022, according to industry specialist, Global SWF.

The other big transaction by ADIA last year was its purchase of a 3% stake in India-based Intas Pharmaceuticals for $250 million from Singapore’s Temasek.

ALSO READ-UAE’s longevity vision in focus at Future Health Summit


Leave a Reply

Your email address will not be published. Required fields are marked *