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Chicago – (Business Wire)– Alpha Dhabi Holdings subsidiary Pure Health, the largest integrated healthcare platform in the United Arab Emirates (UAE), announced today that it has entered into a definitive purchase agreement to acquire a minority investment in Ardent Health Services (Ardent), located in Nashville, Tennessee of a leading U.S. healthcare provider with a total investment of $500 million. The investment is subject to customary closing conditions and will be completed after receipt of all necessary U.S. regulatory approvals.
Ardent is the fourth largest private acute care hospital operator in the United States, with approximately 26,000 employees in 30 hospitals and more than 200 points of care in six states. Pure Health will make the 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.
“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 the diverse aspects of the U.S. healthcare system. Dynamic,” Sam Zell said.
Commenting on the major investment announcement, Farhan 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 U.S. healthcare providers to provide patients in the UAE with an unparalleled healthcare experience utilizing the highest standards and best clinical practice, ‘ said Malik. “Ardent has a proven track record of delivering exceptional service 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.”
About Pure Health
Pure Health is an integrated healthcare solutions platform with a diverse portfolio of over 25 hospitals and 100+ clinics offering over 200 specialties covering services from tertiary care to primary care; health coverage for over 2.5 million members Insurance; Group Purchasing Organization; More than 150 Laboratories; Diagnostic Services; Rehabilitation Services; Long-Term Care; Medical Supplies; and Health Technology Services. With more than 50 million clinical visits and more than 25,000 employees annually, the company provides health care throughout the care process.
Pure Health is committed to extending life and helping people live longer, happier, healthier lives. The company’s Center of Excellence brings together clinical knowledge, process expertise, technology and analytics to deliver outcomes-focused world-class quality across all healthcare channels, with a mission to adapt healthcare systems to the technological singularity of the future.For more information, please visit www.purehealth.ae.
About Equity Investment Group
Founded by Sam Zell more than 50 years ago, Equity Group Investments (EGI) has a long history of building public and private businesses, including the creation and growth of multi-billion dollar companies. EGI’s flexible capital and open investment mandate enable companies to trade opportunistically across industries and geographies across the capital structure at any point in the economic cycle. EGI’s current portfolio includes investments in transportation and logistics, healthcare, manufacturing, agribusiness, energy, retail, waste and infrastructure, and real estate.For more information, please visit www.egizell.com.
About Enthusiasm Health Services
Ardent Health Services invests in people, technology and communities. Through its subsidiaries, Ardent owns and operates 30 hospitals and more than 200 nursing sites in six states, with approximately 26,000 employees, including more than 1,200 employed providers. In 2021, four Ardent hospitals were named Leapfrog’s top hospitals for a focus on evidence-based practice, and in Spring 2022 they received a Leapfrog Hospital Safety Rating of A. Headquartered in Nashville, Tennessee, Ardent is owned by current and former members of Ardent’s management team; Equity Group Investments (EGI), a Chicago-based private investment firm; and Ventas, Inc. (NYSE: VTR), A publicly traded real estate investment trust.
*resource: Etes Cable
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