The UAE’s largest healthcare platform, The Alpha Dhabi Holding subsidiary’s investment is subject to customary closing conditions and will be finalised after receipt of all necessary US regulatory approvals
Pure Health, the largest integrated healthcare platform in the UAE, entered into a definitive purchase agreement to acquire a minority equity investment of $500 million in Ardent Health Services (Ardent), the company announced on Sunday. Ardent is a leading US healthcare provider based in Nashville, Tennessee. The agreement is part of Pure Health’s efforts to expand its footprint in the north American country. UAE’s largest healthcare platform, The Alpha Dhabi Holding subsidiary’s investment is subject to customary closing conditions and will be finalised after receipt of all necessary US regulatory approvals. Pure Health will receive board observer rights but would not have a seat on Ardent’s board of directors, the company said in a statement adding the investment “does not include plans for either the expansion of Ardent’s physical footprint or collaboration between Ardent and Pure Health in the delivery of care.”
The signing ceremony was hosted by Equity Group Investments (EGI), which included Farhan Malik, CEO of Pure Health, Sam Zell, founder and chairman of EGI, and Marty Bonick, president and chief executive officer of Ardent.Ardent is the fourth-largest privately held acute care hospital operator in the US, with 30 hospitals, over 200 sites of care across six states and approximately 26,000 employees. UAE’s largest healthcare platform, This landmark investment agreement marks a quantum leap for the UAE and the global healthcare industry,” Pure Health’s chief executive officer Farhan Malik said. Malik added: “Ardent has a strong track record of delivering outstanding services across the United States, and we look forward to gaining additional knowledge to support our north star of advancing the science of longevity and unlocking time for humanity.” Pure Health is an integrated healthcare solutions platform with a diversified portfolio of over 25 hospitals and more than 100 clinics in the UAE.
Source: This news is originally published by arabianbusiness