Vaish Associates Delhi corporate head Satwinder Singh and senior associate Sushma Mathur sealed the transaction last week.

Singh said: "It was an identified asset purchase transaction that was concluded recently."

Ernst & Young was SRIT's advisor on this deal.

With this acquisition Religare Technova, which is the holding company for the IT business of Religare, has become the sole owner of the intellectual property related to SRIT's hospital information system dubbed Magnum.

This deal will also add 100 employees of SRIT to augment health care IT practice of Religare.

Vaish Associates has previously also advised on the health insurance joint venture between Religare and Swiss Re, as well as on Religare-owned Fortis Healthcare's purchase of 10 hospitals from the Wockhardt Group.