PureHealth, the Leading Healthcare Platform, Announces IPO Plans
PureHealth Holding PJSC (Public Joint Stock Company under incorporation), the largest healthcare platform in the Middle East, has announced its intention to proceed with an initial public offering (IPO) and subsequently list its shares on the Abu Dhabi Securities Exchange (ADX).
Subject to obtaining regulatory approvals and other relevant considerations it is expected that trading on ADX will commence in December 2023.
Shareholders in PureHealth are currently Alpha Dhabi Holding (ADX:ALPHADHABI) and International Holding Company (IHC) Healthcare Holding LLC, subsidiaries of the Abu Dhabi based conglomerate IHC; and ADQ, an Abu Dhabi-based investment and holding company, by way of a wholly owned subsidiary.
PureHealth has been on a journey of consolidation and growth over the past years.
With a diverse UAE portfolio encompassing over 25 hospitals, 100 clinics, multiple diagnostic centers, health insurance solutions, pharmacies, health tech, and procurement, PureHealth is also actively expanding its presence globally including the recent acquisition of 100 percent stake in Circle Health Group, the UK's largest independent operator of hospitals, marking an important milestone in the company's journey towards creating a global healthcare network which revolutionizes patient care.
In May 2023, PureHealth completed its acquisition of Ardent Health Services, which is USA's fourth largest private healthcare group, becoming the only Middle East based healthcare provider to directly acquire assets in US hospitals and clinics.
PureHealth is committed to raising standards in healthcare excellence, facilitating the development of cutting-edge healthcare solutions, and advancing the science of longevity.
PureHealth works towards its stated purpose of remaining at the forefront of advancing health systems and envisioning the healthcare of the future.
Hamad Al Hammadi, Chairman of the Board of Directors of PureHealth, said: "Healthcare is a fundamental pillar of any thriving society. We are confident that the power of innovation and progress, which has brought PureHealth to the cusp of this major milestone, will continue to drive the company forward and effect positive change within the sector. Testament to the continued dynamism and vibrancy of Abu Dhabi's capital markets, the planned listing would allow PureHealth to claim a position among the world's leading healthcare groups, benefitting people in an increasing number of countries while reliably leading the way in executing development objectives of our nation."
Farhan Malik, Managing Director of PureHealth, 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 groundbreaking innovation for patients, healthcare technology, expansion globally through acquisitions and positioning 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 revolutionize healthcare by deploying health tech platforms and expanding globally, ensuring efforts to deliver the best in healthcare from Abu Dhabi to the world."
In line with its mission to advance the science of longevity, PureHealth recently launched Pura, an AI-powered super-app that seamlessly integrates healthcare information obtained from multiple sources, including real-time monitoring through wearable devices.
With a clear understanding that traditional brick and mortar healthcare will be disrupted in the future, PureHealth is proactively working towards taking Healthcare to the cloud and as such, has created PureNet, its Digital Health as a Service platform, a solution for all healthcare providers through their digitization journey and to expand their digital health services.
PureHealth is focusing on building a global platform which will serve not only the current patient needs, rather looking at population health management and evolving the business of healthcare to cater for the next generations to come.
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