Pure Health to invest $500m in a US healthcare company, Ardent
Alpha Dhabi Holding subsidiary, Pure Health, has entered into a definitive purchase agreement to acquire a minority equity investment in Ardent Health Services for a total investment of $500 million subject to customary closing conditions and will be finalized after receipt of all necessary US regulatory approvals. Pure Health will purchase the interest from Equity Group Investments (EGI), a Chicago-based private investment firm and majority owner of Ardent.
As part of its investment, Pure Health would receive board observer rights but would not have a seat on Ardent’s board of directors. The investment does not include plans for either the expansion of Ardent’s physical footprint or collaboration between Ardent and Pure Health in the delivery of care.
Ardent is the fourth largest privately held acute care hospital operator in the U.S., with 30 hospitals and more than 200 sites of care across six states, and approximately 26,000 employees.
Commenting on this major investment announcement, Farhan Malik, CEO of Pure Health, added, “This landmark investment agreement marks a quantum leap for the UAE and the global healthcare industry. 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 US, and we look forward to gaining additional knowledge to support our north star of advancing the science of longevity and unlocking time for humanity.”
“One of EGI’s strengths is partnering with like-minded individuals with the experience and passion for how we approach investment opportunities. We look forward to developing a productive relationship with Pure Health as they continue to explore the various dynamics of the U.S. healthcare system,” said Sam Zell, founder and chairman of EGI.