Daily Newsletter

22 November 2023

Daily Newsletter

22 November 2023

UAE’s PureHealth Holding plans IPO in December 2023

The IPO is subject to regulatory approvals, and if granted, trading on ADX will start in December.

November 21 2023

PureHealth Holding, a UAE-based integrated healthcare network, is set to launch an initial public offering (IPO) in December and list its shares on the Abu Dhabi Securities Exchange (ADX).

The IPO is subject to regulatory approvals, and if granted, the company’s stock will start trading on ADX next month.

Currently owned by Alpha Dhabi Holding, International Holding Company (IHC) Healthcare Holding, and ADQ, PureHealth has undergone growth and consolidation in recent times.

The company’s portfolio includes 25 hospitals, 100 clinics, diagnostic centres, health insurance solutions, pharmacies, and health tech.

PureHealth is focused on advancing healthcare excellence, developing modern solutions, and promoting longevity science.

Recently, the company launched Pura, an AI-powered super-app that integrates healthcare information from various sources, including real-time monitoring through wearable devices.

It is also moving towards a cloud-based healthcare model with PureNet, its Digital Health as a Service platform, to assist healthcare providers in their digitisation journey and expand digital health services globally.

Earlier in 2023, the company was in the news for its $1.2bn acquisition of UK’s Circle Health Group.

This year, PureHealth also completed an around $500m equity investment in US-based Ardent Health Services.

PureHealth managing director Farhan Malik said: “We are very pleased to announce our intention to float PureHealth on the Abu Dhabi Securities Exchange.

“This IPO will enable PureHealth to continue to solidify its position as national champion, expand the depth and geographic reach of ground-breaking innovation for patients, and healthcare technology, expand globally through acquisitions and position Abu Dhabi at the forefront of healthcare globally.

“Aligned with the UAE leadership's vision for a progressive and sustainable society, this IPO will position Abu Dhabi as a frontrunner in the global healthcare landscape.

“This is a critical milestone for the UAE as PureHealth continues to revolutionise healthcare by deploying health tech platforms and expanding globally, ensuring efforts to deliver the best in healthcare from Abu Dhabi to the world.”

Is it time for the healthcare sector to fully embrace the benefits of digitalization and AI?

Only a handful of approved therapeutic drugs are currently available for the treatment of ARF, all belonging to the solute carrier family 12 member 1 inhibitor. The clinical trial space in ARF consists of almost an equal mix of commercial as well as academic sponsors, with Iran and the US emerging as the key countries for conducting Phase III trials. While the current marketed drug space for ARF has only a handful of treatment options, currently available mid-to-late-stage pipeline drugs are likely to pave the way for a new treatment approach in the future.

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