The UAE’s PureHealth has taken a stake worth AED1.8bn ($490m) in a leading US healthcare provider.
PureHealth is the only UAE-based healthcare provider to directly acquire assets in US hospitals and clinics.
The Middle East’s largest integrated healthcare platform purchase of a minority equity investment in Ardent Health Services.
UAE’s PureHealth eyes US
The landmark transaction reflects PureHealth’s global expansion, building on the group’s existing footprint of more than 25 hospitals, more than 100 clinics, and more than 160 laboratories in the UAE.
Ardent, meanwhile, is the fourth-largest privately held healthcare system in the US with more than 1,400 aligned providers, 30 hospitals, more than 23,000 employees and more than 200 sites of care across six US states.
Farhan Malik, Managing Director and CEO of PureHealth, said: “We are proud to be the first UAE-based healthcare group to acquire assets in the US.
“The conclusion of this transaction marks the beginning of a new phase of growth for PureHealth in which we will build on our global relationships and strengthen our international reputation.
“As the region’s largest healthcare group, we are committed to working with our partners to advance patient-centric care and elevate healthcare systems. We remain focused on delivering an unrivalled healthcare experience through innovation, technology-driven solutions, and collaboration.
“This acquisition not only enables us to enhance our services and offer unparalleled patient experiences in the UAE but also reflects our commitment to adopting the most advanced clinical practices to support our north star of advancing the science of longevity and unlocking time for humanity.”
Mark Sotir, President of EGI, said: “EGI excels at bringing together like-minded organisations who are passionate about improving their industry and creating value for all stakeholders.
“This investment strengthens our ownership group and we’re excited that PureHealth shares our confidence in Ardent’s growth trajectory.”
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