New Delhi, July 9 -- Three years after acquiring a controlling stake in Pune-based Sahyadri Hospitals, Ontario Teachers Pension Plan (OTPP) has sold the chain to Temasek-backed Manipal Hospitals as consolidation continues in India's healthcare market.

The company's statement announcing the deal late on Wednesday didn't disclose financial details.

However, according to two people with knowledge of the development, Manipal has agreed to pay around $750-760 million (about Rs.6,200-6,400 crore) for the majority stake in its attempt to bulk up its asset base before it looks to go public.

OTPP had reportedly bought the firm for Rs.2300 crore in 2022.

Manipal outbid Blackstone-backed Aster DM Quality Care in the process, the people said. Oth...