Seventy Second Investment Company, owned by Mubadala’s Mamoura Diversified Global Holding, the investment vehicle of the Abu Dhabi government, has received the go-ahead for acquiring a stake in Manipal Health Enterprises, one of India’s biggest healthcare facilities.

The permission was granted by India’s fair trade regulator the Competition Commission of India (CCI). The deal has been approved under the green channel route which allows for approval at filing since the transaction does not raise any risk of adverse effect on competition and is deemed to be approved on being intimated to the fair trade regulator.

Manipal Health Enterprises, or Manipal Hospitals, is part of the Manipal Education and Medical Group (MEMG), touted as the second-largest hospital chain in the country. The group operates 33 hospitals across 17 cities in India.

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