Abu Dhabi - Mubasher: Pure Health, a subsidiary of Alpha Dhabi Holding, has entered into a definitive purchase agreement worth AED 1.80 billion to acquire a minority equity in Ardent Health Services, a US healthcare provider based in Tennessee.
Pure Health would purchase the potential stake from Equity Group Investments (EGI), a Chicago-based private investment firm and majority owner of Ardent, according to a bourse filing.
Meanwhile, the deal is subject to customary closing conditions and will be finalised after obtaining all necessary US regulatory approvals. Upon the agreement, Pure Health would gain board observer rights but would not have a seat on Ardent’s board.
The ADX-listed firm noted that the investment does not include plans for either the expansion of the US-based firm’s footprint or collaboration between Pure Health and Ardent in healthcare delivery.
During the first six months (6M) of 2022, the net profits attributable to the owners of Alpha Dhabi reached AED 6.28 billion, a leap from AED 831.62 million in the year-ago period.
