Healthcare investor MDY Healthcare PLC (MDY.LN) Friday said it has agreed to buy two healthcare investments from 3i Group PLC (III.LN) for GBP3 million, and is planning to expand into the Chinese market.

MDY has agreed to acquire 2,439,024 shares in pharmaceutical company ProStrakan Group PLC (PSK.LN) for 61.5 pence a share, and 49,362 shares in Swiss pharmaceuticals company Santhera Pharmaceuticals Holding AG (SANN.EB) for CHF49.65 ($44.34) a share.

The total cost is GBP3 million.

The stakes represent 1.21% of ProStrakan's issued ordinary shares and 1.4% of Santhera's issued common shares.

The company also said Friday it is in the process of establishing a fund to invest in Chinese companies, as there is "a large and growing demand in China for mid-range medical devices and equipment."

Company Web site: www.mdyhealthcare.com

-By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com
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