Menu
September 12, 2022:- Pure Health, the biggest integrated healthcare platform in the UAE, will acquire a small equity stake in Ardent Health Services, a leading US healthcare provider established in Tennessee, for a total investment of $500 million.
The acquisition in Ardent, the fourth largest private hospital operator in the US with processes across six states, expands Pure Health’s impression in the US healthcare market.
The investment is subject to traditional closing conditions and will be finalized after all required US regulatory approvals are obtained.
Investment from EGI
Ardent has 30 hospitals and additionally 200 sites of care across six states and around 26,000 employees. Pure Health, Alpha Dhabi Holding subsidiary, would gain a minority equity investment by buying a part in Ardent from Equity Group Investments (EGI), a private investment company and majority proprietor of Ardent based in Chicago.
Pure Health would acquire board observer rights as part of its investment but would not have a seat on Ardent’s board of directors. The investment does not contain plans for either the expansion of Ardent’s physical footprint or partnership between Ardent and Pure Health in care delivery.
Equity Group Investments hosted a signing ritual, 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.
Different dynamics
“One of EGI’s resilience is partnering with like-minded individuals with the knowledge and passion for how we approach investment possibilities. We look forward to culminating a fruitful relationship with Pure Health as they continue to explore the various dynamics of the US healthcare system,” stated Zell.
Remarking on the investment, Malik expressed: “This landmark investment agreement honors a quantum leap for the UAE and the global healthcare industry.”
“This is an exhilarating opportunity for Pure Health, as we continue to build associations with leading US healthcare providers to leverage the most elevated standards and best clinical practices to deliver an unrivalled healthcare experience for people in the UAE,” stated Malik. “Ardent has a strong track record of delivering exceptional services across the US, and we look forward to gaining supplemental knowledge to support our north star of progressing the science of longevity and unlocking time for humanity.”
