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The transaction will lead to the listing of Manipal Hospitals as the largest hospital services provider in the country by revenue. The Fortis Healthcare board approved the transaction on Tuesday. Ranjan Pai will become the largest investor with a The sale came too late for them to be able to retain control of the company, having failed to redeem pledged shares amid an arbitration award that went against them in the sale of Ranbaxy to Daiichi Sankyo.
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