Healthcare giant PureHealth Holding has declared its plans to move forward with an initial public offering (IPO) and have its shares listed on the Abu Dhabi Securities Exchange (ADX).
Trading on ADX is expected to commence in December, subject to securing regulatory approvals and addressing other necessary considerations.
PureHealth Chairman, Hamad Al Hammadi, Highlights Abu Dhabi Capital Markets
Hamad Al Hammadi, chairman of the Board of Directors of PureHealth, said: “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, MD of the company, 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 a national champion, expand the depth and geographic reach of groundbreaking innovation for patients, and healthcare technology, expand globally through acquisitions and position Abu Dhabi at the forefront of healthcare globally.”
“This is a critical milestone for the UAE as PureHealth continues to revolutionise healthcare by deploying health tech platforms and expanding globally, ensuring efforts to deliver the best in healthcare from Abu Dhabi to the world.”
The company’s shareholders consist of Alpha Dhabi Holding and International Holding Company Healthcare Holding, which are subsidiaries of the Abu Dhabi-based conglomerate IHC, along with the Abu Dhabi-based investment and holding company, ADQ.
PureHealth: Leveraging its strengths
The healthcare conglomerate’s portfolio encompasses over 25 hospitals, 100 clinics, numerous diagnostic centres, health insurance solutions, pharmacies, health tech, and procurement services in the UAE.
In May, it completed the acquisition of Ardent Health Services, the fourth-largest private healthcare group in the US, making it the sole Middle East-based healthcare provider to directly acquire assets in US hospitals and clinics, according to Gulf Business.
Recently, it acquired Circle Health Group, the largest independent operator of hospitals in the UK, reinforcing its international expansion.
The company introduced Pura, an AI-powered super-app that consolidates healthcare data from various sources, including real-time monitoring through wearable devices. Additionally, it launched PureNet, its digital health-as-a-service platform designed to aid healthcare providers in their digital transformation initiatives.
