UAE-based integrated healthcare platform Pure Health has signed an agreement to acquire a minority equity investment in US-based Ardent Health Services for $500m total investment.
Under the terms of the agreement, Pure Health will acquire an interest in Ardent from its majority owner Equity Group Investments (EGI).
As part of the deal, Pure Health will have board observer rights but not a seat on Ardent’s board of directors.
The investment excludes plans for expansion of the physical footprint of Ardent or collaboration between Ardent and Pure Health in delivering care.
Pure Health has more than 25 hospitals and over 100 clinics offering more than 200 specialty services covering from tertiary care to primary care.
It also has more than 150 labs, medical supplies, diagnostics services, health technology services, long term care, and rehab services.
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This new investment will expand the company’s footprint in the US healthcare market.
Pure Health CEO Farhan Malik said: “This is an exciting opportunity for Pure Health, as we continue to build relationships with leading US healthcare providers to leverage the highest standards and best clinical practices to provide an unrivalled healthcare experience for patients in the UAE.
“Ardent has a strong track record of delivering outstanding services across the United States, and we look forward to gaining additional knowledge to support our north star of advancing the science of longevity and unlocking time for humanity.”
Subject to customary closing conditions, the investment will be concluded after receiving all the necessary US regulatory approvals.