[ad_1]
Pure Health, the UAE’s largest integrated healthcare platform, will acquire a minority stake in Ardent Health Services, a leading US healthcare provider based in Tennessee, for a total investment of US$500 million.
The investment in Ardent, the fourth largest private hospital operator in the US, expands Pure Health’s footprint in the US healthcare market.
The investment is subject to customary closing conditions and will be completed after receipt of all necessary U.S. regulatory approvals.
Buy from EGI
Ardent operates 30 hospitals and more than 200 care centers in six states and employs approximately 26,000 people. Pure Health, a holding subsidiary of Alpha Dhabi, will make a minority investment by purchasing an interest in Ardent from Equity Group Investments (EGI), a Chicago-based private investment firm and Ardent’s majority shareholder.
As part of its investment, Pure Health will receive board observer rights, but not a seat on Ardent’s board. The investment does not include plans to expand Ardent’s physical footprint, nor does it include Ardent and Pure Health’s collaboration in providing care.
Equity Group Investments officiated at the signing ceremony, which included Pure Health CEO Farhan Malik, EGI founder and chairman Sam Zell and Ardent president and CEO Marty Bonick.
Various dynamics
“One of EGI’s strengths is working with like-minded individuals who have a wealth of experience and passion for how we approach investment opportunities. We look forward to a fruitful relationship with Pure Health as they continue to explore various aspects of the U.S. healthcare system. dynamic,” Zell said.
Commenting on the investment, Malik said: “This landmark investment agreement marks a huge leap forward for the UAE and the global healthcare industry.”
“This is an exciting opportunity for Pure Health as we continue to build relationships with leading US healthcare providers to provide patients in the UAE with an unparalleled healthcare experience leveraging the highest standards and best clinical practice, ‘ said Malik. “Ardent has a proven track record of service excellence across the United States, and we look forward to gaining additional knowledge to support our advancement of the science of longevity and the North Star of unlocking time for humanity.” – arab trade news agency
[ad_2]
Source link
