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UAE's Pure Health to
acquire a minority equity
stake in US-based Ardent
Health Services (Ardent) for
$500 million
(Chicago, USA) -
Alpha Dhabi Holding
subsidiary, Pure Health, the
largest integrated
healthcare platform of the
United Arab Emirates (UAE),
today announced that it has
entered into a definitive
purchase agreement to
acquire a minority equity
investment in Ardent Health
Services (Ardent), a leading
U.S. healthcare provider
based in Nashville,
Tennessee, for a total
investment of $500 million.
The investment is subject to
customary closing conditions
and will be finalized after
receipt of all necessary
U.S. regulatory approvals.
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. Pure Health would
achieve a minority equity
investment by purchasing an
interest in Ardent 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.
Equity Group Investments
hosted a signing ceremony,
which included Farhan Malik,
CEO of Pure Health, Sam
Zell, founder and chairman
of EGI, and Marty Bonick,
president and chief
executive officer of Ardent.
“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.
Commenting on
the major investment
announcement, Farhan Malik
said, “This landmark
investment agreement marks a
quantum leap for the UAE and
the global healthcare
industry.”
“This is
an exciting opportunity for
Pure Health, as we continue
to build relationships with
leading U.S. healthcare
providers to leverage the
highest standards and best
clinical practices to
provide an unrivalled
healthcare experience for
patients in the UAE,” said
Malik. “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.”
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