UAE’s Pure Health to launch IPO next month – The National

UAE’s Pure Health to launch IPO next month – The National

Pure Health, the UAE’s largest healthcare group, plans to launch an initial public offering next month and list its shares on the Abu Dhabi Securities Exchange amid continued IPO momentum in the Emirates.The listing of Pure Health, whose assets include insurance companies, hospitals, clinics, and diagnostics facilities, on the Arab world’s second-largest bourse is subject to regulatory approvals and other relevant considerations, the company said on Tuesday.Current shareholders in Pure Health are Alpha Dhabi Holding and International Holding Company (IHC) Healthcare Holding, subsidiaries of the Abu Dhabi conglomerate IHC, and Abu Dhabi holding company ADQ, by way of a wholly owned subsidiary.“This IPO will position Abu Dhabi as a front-runner in the global healthcare landscape,” Farhan Malik, managing director of Pure Health, said.“It will enable Pure Health to continue to … expand the depth and geographic reach of groundbreaking innovation for patients, healthcare technology, expansion globally through acquisitions.”In August, Pure Health agreed to purchase the UK’s biggest private healthcare company, Circle Health, from Centene Corporation, in a deal valued at Dh4.41 billion ($1.2 billion). The acquisition marked Pure Health’s first entry into the UK market.The company also this year completed a Dh1.8 billion purchase of an equity investment in Ardent