PureHealth, the largest healthcare platform, announces intention to list on Abu Dhabi Securities Exchange
Pure Health Holding Group PJSC (a public shareholding company under formation), the largest healthcare platform in the Middle East, has announced its intention to conduct an initial public offering (IPO) followed by listing on the Abu Dhabi Securities Exchange (ADX).
Trading on the market is expected to commence in December 2023 after obtaining regulatory approvals and completing the relevant legal procedures.
Shareholders in the Pure Health Group currently include Alpha Abu Dhabi Holding (ADX:ALPHADHABI) and IHC Healthcare Holding W.L.L., two subsidiaries of the Abu Dhabi-based International Holding Company (IHC) conglomerate, and ADQ, the Abu Dhabi-based investment and holding corporation, through a wholly owned subsidiary.
PureHealth's journey has been a success, as it has continued to strengthen its position and growth over the past years, and with a diversified portfolio in the UAE, including more than 25 hospitals, 100 clinics, multiple diagnostic centers, health insurance solutions, pharmacies, health technology and procurement, PureHealth is expanding its presence globally. The Group recently acquired 100% of Circle Health Group's portfolio, the UK's largest independent hospital operator, marking a milestone in the Group's ambitious vision to build a global healthcare network that revolutionizes patient care.
In May 2023, Pure Health completed its acquisition of Jordan Healthcare, the fourth largest private healthcare group in the United States, becoming the only healthcare provider in the Middle East to directly acquire assets in American hospitals and clinics.
PureHealth is committed to raising the bar for excellence in the healthcare industry, developing innovative healthcare solutions, and promoting the science of longevity, as it strives to remain at the forefront of advanced health systems and shape the healthcare of the future.
Hamad Al Hammadi, Chairman of PureHealth, said: "Healthcare is a key pillar for a healthy and prosperous society. We are confident that PureHealth's innovation and progress, which have contributed to many significant milestones, will continue to elevate the Group's profile and bring about positive change within the healthcare industry. Reflecting the continued dynamism and vitality of Abu Dhabi's capital market, the planned listing will allow PureHealth to strengthen its reputation and presence among the world's leading healthcare groups, benefiting many individuals in different countries in the region and supporting the UAE's development goals."
Farhan Malak, General Manager of PureHealth, said: "We are delighted to announce our intention to list PureHealth on the Abu Dhabi Securities Exchange. The IPO will enable PureHealth Group to further establish itself as a leading national company, expand the depth and geographic reach of pioneering innovations for the benefit of patients, enhance healthcare technology, and expand globally through acquisitions. In line with the vision of the UAE's wise leadership to achieve an advanced and sustainable society, the Group's IPO will strengthen Abu Dhabi's position at the forefront of the global healthcare landscape. This milestone for the UAE is an important step in PureHealth's efforts to continue revolutionizing healthcare by deploying innovative and pioneering healthcare solutions and expanding globally, contributing to bringing the best healthcare from Abu Dhabi to the world."
In line with its mission to advance the science of healthy longevity, PureHealth recently launched Pura, an AI-powered application that seamlessly integrates the capabilities of traditional healthcare facilities and data collected across multiple sources, such as real-time monitoring via wearable devices. Deeply aware that traditional healthcare will no longer exist in the future, PureHealth is proactively moving healthcare to the cloud. The Group has launched Purenet, a cloud platform dedicated to healthcare to empower all healthcare providers on their journey towards digitization and expand their digital health services. PureHealth is committed to building a global platform that not only serves the needs of current patients, but also focuses on managing the health of individuals and developing healthcare solutions to meet the needs of future generations.