Replying to a submission on the issue raised by Beeny Behanan (Cong), the minister, however, said a preliminary probe had stated that there was no negligence on the part of hospital authorities.
The government has also not received any complaints from the relatives of the deceased, Balakrishnan said.
But, as the issue had been raised in the House with allegations that the three persons, who were under treatment, died due to non-availability of oxygen when required, government has decided to order a probe, he said.
Intervening, Chief Minister Oommen Chandy said government was actively considering taking over both the Cochin Co-operative Medical College Hospital and Pariyaram Medical College Hospital in Kannur run by a co-operative society.
Chandy also assured the House that stern action would be taken against those found guilty in the Cochin Medical College incident.
Behanan alleged that three persons, who were under treatment in the Intensive Care Unit, died as they did not get life saving oxygen at the right time.
All the deaths happened in a three day period as hospital authorities did not replace the empty oxygen cylinder attached to the Centralised Oxygen Unit,he said.