Abu Dhabi’s PureHealth to go public next month

Abu Dhabi’s PureHealth to go public next month

ALBAWABA – The Middle East’s biggest health-care platform, Abu Dhabi’s PureHealth, is expected to start trading in December, pending regulatory approval, according to an official statement on Monday, reported by Bloomberg.PureHealth Holding PJSC is controlled by one of Abu Dhabi’s sovereign wealth funds and is its largest conglomerate, as pre Bloomberg.Wealth fund ADQ and International Holding Co., both overseen by Sheikh Tahnoon bin Zayed, the brother of the UAE’s ruler, have been working on a listing for years.As part of the plans, several companies including Abu Dhabi Health Services Co., known as SEHA, and National Health Insurance Co., known as Daman, were merged into PureHealth by ADQ in January 2022. The firm now operates over 25 hospitals and 100 clinics, Bloomberg reported.This is one of various Emirati efforts to expand businesses across various sectors.For example, Abu Dhabi’s $48 billion telecom firm e& is pursuing an ambitious expansion strategy after becoming Vodafone Group Plc’s biggest shareholder. It was mandated by the government to seek opportunistic deals, Bloomberg News has reported.PureHealth has also expanded through acquisitions, including a $1.2 billion (AED4.41 billion) deal to buy one of the UK’s largest independent hospital operators from Centene Corp. It also bought a minority stake