Kuala Lumpur: Malaysia`s IHH Healthcare Bhd , Asia`s largest hospital operator by stock market value, said on Monday it had bought a 51 percent stake in India-based Continental Hospitals Ltd for 166.73 million ringgit ($45.4 million).
The deal comes one week after Singapore`s Competition Commission blocked IHH`s plan to buy a local unit of India`s Fortis Healthcare Ltd for 346.5 million ringgit.
The acquisition will not material effect IHH`s earnings for the current financial year ending Dec. 31, 2015, the company said.
Continental Hospitals is a 750-bed super speciality hospital in Hyderabad, a southern Indian city, according to its website.
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