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Pure Health, a network of healthcare facilities based in Abu Dhabi, has entered into an agreement to acquire a major UK hospital operator. The transaction is worth approximately US$1.2 billion.
Circle, owned by US firm Centene, is a major player in the UK private healthcare sector and boasts an extensive network of over 50 sites across the country, employing approximately 8,200 staff and generating revenues of US$1.3 billion. Centene initially invested in Circle Health in 2019 and subsequently acquired full ownership in 2021.
Pure Health has an extensive network including more than 25 hospitals, health insurance services, over 160 laboratories, over 100 clinics and more than 24,000 dedicated staff. The company also recently closed a significant $500 million equity investment in Ardent Health Services, the fourth largest private healthcare group in the U.S. with operations in six states.
The firms said the acquisition will bring extensive benefits to healthcare services in both the UAE and the UK, such as enhanced clinical expertise and the introduction of new medical methodologies that will facilitate better collaboration between healthcare professionals. In addition, patients in the UAE will gain access to more diverse treatment options.
In the previous year, ADQ, Abu Dhabi's sovereign wealth fund and Pure Health's major shareholder, consolidated several companies and merged them under the Pure Health umbrella. This strategic move has led to the creation of the largest healthcare provider in the UAE. Other Pure Health shareholders include International Holding, which is actively involved in the process of Pure Health's listing. Global SWF said that by 2022, PureHealth is estimated to be worth US$5 billion.