Mubadala Investment Company has announced it is investing in India’s Manipal Health Enterprises, weeks after a subsidiary of the Abu Dhabi state-backed firm had received clearance from India’s fair-trade regulator, the Competition Commission of India (CCI).

Earlier, Zawya had reported the Abu Dhabi-registered Seventy Second Investment Company, a wholly owned unit of the state-backed Mubadala’s Mamoura Diversified Global Holding, had received clearance from the CCI for a stake in one of the country’s biggest healthcare facilities, Manipal Health Enterprises.

According to a January 15 CCI filing, the deal had been approved under the green channel route, which allows for immediate approval at filing.

Temasek, a Singapore-headquartered global investment company, will continue to hold a majority stake in Manipal.

Manipal Health Enterprises, which is commonly known as Manipal Hospitals, is a part of the Manipal Education and Medical Group (MEMG) headquartered in Bengaluru, which operates 33 hospitals across 17 cities in India.

In recent months, Abu Dhabi has been actively investing in the healthcare sector. At the recently concluded Arab Health exhibition in Dubai, the Mubadala-backed Abu Dhabi health tech firm M42 made a series of deals, banking on the future of genomics, a sector that is expected to cross $178.5 billion by 2032, according to a study by market research and consulting company Emergen Research.

(Writing by Bindu Rai, editing by Seban Scaria)