Piramal Enterprises today announced that it has agreed to acquire a majority stake in Health SuperHiway, a healthcare analytics company, over the next 12 months.

This investment, which will come in two tranches, continues PEL's development of a global healthcare information business, which it began through its acquisition of Decision Resources Group in 2012, and its subsequent acquisitions of Abacus International and Relay Technology Management. HealthHiway is well regarded for its strong competencies in providing data integration, analytics and solutions development to Indian healthcare providers. In conjunction with several leading Indian hospital groups, PEL plans to develop HealthHiway into the leading provider of information and insight about the Indian healthcare market.

Ajay Piramal, chairman of Piramal Enterprises, said, ''We are impressed by what HealthHiway has been able to build till now. More importantly, we like HealthHiway's exceptional management team, which shares our commitment to reducing the burden of disease through information and insight. This investment continues our process of building a global healthcare information business and will enhance our ability to serve India-based customers in the healthcare industry.''

Shares of the company declined Rs 27.75, or 2.85%, to settle at Rs 944.90. The total volume of shares traded was 4,930 at the BSE (Friday).