UAE’s Pure Health to invest $500m in Ardent, a US healthcare company

UAE’s Pure Health to invest $500m in Ardent, a US healthcare company

Alpha Dhabi Holding subsidiary, healthcare platform Pure Health has entered into a definitive purchase agreement to acquire a minority equity investment in Ardent Health Services (Ardent), a US healthcare provider based in Nashville, Tennessee, for a total investment of $500m. The investment is subject to customary closing conditions and will be finalised after receipt of all necessary US regulatory approvals. Ardent is the fourth largest privately held acute care hospital operator in the US, 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