Abu Dhabi-based PureHealth Holding has announced its intention to proceed with an initial public offering (IPO) and list its shares on the Abu Dhabi Stock Exchange (ADX).
PureHealth’s network of health centers in Abu Dhabi and the northern emirates comprises Abu Dhabi Health Services Company (Seha), Daman, Medical Office, Rafed, PureLab, Abu Dhabi Stem Cells Centre, One Health, Life Corner and Ardent. The Middle East’s largest healthcare platform expects to begin trading on the ADX next month subject to obtaining regulatory approvals and other relevant considerations.
“As evidence of the continued dynamism and vitality of Abu Dhabi’s capital markets, the planned listing would allow PureHealth to claim a position among the world’s leading healthcare groups, benefiting people in an increasing number of countries and at the same time time reliably leading the way in executing our nation’s development goals,” said Hamad Al Hammadi, Chairman of the Board of Directors of PureHealth.
PureHealth shareholders are Alpha Dhabi Holding and International Holding Company Healthcare Holding, subsidiaries of Abu Dhabi-based conglomerate IHC; and ADQ, an Abu Dhabi-based holding and investment company, through a wholly owned subsidiary.
Farhan Malik, CEO of PureHealth, said: “This IPO will enable PureHealth to continue to solidify its position as a national champion, expand the depth and geographic reach of innovative patient innovation, health technology, global expansion through of acquisitions and positioning Abu Dhabi at the forefront of global healthcare.”
PureHealth has been on a journey of consolidation and growth over the past few years. With a diverse portfolio in the UAE spanning over 25 hospitals, 100 clinics, multiple diagnostic centres, health insurance solutions, pharmacies, healthcare technology and acquisitions, PureHealth is actively expanding its presence globally, including the recent acquisition of a 100 percent stake in Circle Health. Group, the UK’s largest independent hospital operator. In May 2023, PureHealth completed the acquisition of Ardent Health Services, which is the fourth largest private healthcare group in the US, becoming the only Middle East-based healthcare provider to directly acquire assets in hospitals and clinics Americans.
Malik noted that the IPO will position Abu Dhabi as a leader in the global healthcare landscape.
“This is a critical milestone for the UAE as PureHealth continues to revolutionize healthcare through the deployment of health technology platforms and its global expansion, ensuring efforts to deliver the best in healthcare from Abu Dhabi to the world.”
In line with its mission to advance the science of longevity, PureHealth recently launched Pura, an AI-powered super app that seamlessly integrates healthcare information obtained from multiple sources, including real-time monitoring across devices. portable. The company also created PureNet, its digital health platform as a service, a solution for all healthcare providers on their digitalization journey and to expand their digital health services.