India's Fortis Healthcare is the second largest shareholder of Lanka Hospitals Corporation.
Last March, Fortis bought a 28.6 percent slice of Lanka Hospitals for 3.98 billion rupees. Lanka Hospitals was earlier managed by India’s Apollo Hospitals group.
Super Religare Laboratories, a unit of Fortis Healthcare will partner with Lanka Hospitals.
"It is expected that the company will invest a sum of 831 million rupees over the two-years in the new company,” Lanka Hospitals said in a regulatory filing Thursday.
Lanka Hospital’s shares closed up 30-cents to 29.20 rupees on Thursday.
Since April last year, Fortis also manages the cardiac centre of the Colombo-based Oasis Hospital.
One of India’s largest hospital chains with 55 hospitals, Fortis also runs healthcare units in Australia, Canada, Dubai, Hong Kong, Mauritius, New Zealand, Singapore and Vietnam.