Skip to content Skip to Search
Skip navigation

Pure Health buys Abu Dhabi hospital stake for $150m

Shakhbout Medical City reported a net profit of AED14.7 million in 2023 Sheikh Shakhbout Medical City
Shakhbout Medical City reported a net profit of AED14.7 million in 2023

A subsidiary of Abu Dhabi’s Pure Health Holding has agreed to acquire Mayo Clinic’s shares in Sheikh Shakhbout Medical City for $150 million.

Under the agreement, Abu Dhabi Health Services Company (Seha) will acquire 25,000 shares, or 25 percent, of the total issued shares of Sheikh Shakhbout Medical City, Pure Health said in a statement to the Abu Dhabi bourse on Tuesday.

Sheikh Shakhbout Medical City, a private-public partnership between Seha and Mayo Clinic, reported a net profit of AED14.7 million in 2023, as revenue reached AED2.15 billion.

The hospital has 487 beds, 162 outpatient clinics, 55 emergency rooms, 18 operation theatres, 135 critical care beds and 15 burn centre beds, according to the hospital’s 2022 annual report.

Pure Health announced the acquisition of Circle Health Group, the UK’s largest operator of private hospitals, for AED4.4 billion in August last year.

In September 2023, the company bought a minority stake in US healthcare giant Ardent for a total investment of $500 million.

The healthcare company, a subsidiary of Alpha Dhabi Holding, runs 28 hospitals and more than 100 clinics in the UAE.

Latest articles

More than 24 million people visited the World Expo event at Expo City Dubai between October 2021 and March 2022

Construction begins at Expo City Dubai site

Construction has begun on the first residential properties at Expo City Dubai, part of a mixed-use master plan to repurpose the legacy site after the world fair came to a close two years ago. Master developer Expo City Dubai announced last week that it has awarded four key contracts for its Mangrove Residences. UAE-based USF […]

Saudi housing costs rose nearly 9% year on year in May

Saudi housing costs rise but inflation remains steady

Housing costs in Saudi Arabia rose nearly 9 percent year on year in May, but it was not enough to push overall inflation in the kingdom over 2 percent. The latest data from the General Authority for Statistics showed the annual inflation rate in Saudi Arabia was 1.6 percent in May, having remained at this […]

OTB Group has a presence in Dubai with its Maison Margiela store in the Dubai Mall

Chalhoub Group in venture with Italian luxury brand

Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […]

Arid conditions brought about by the drought in Morocco are affecting the cost of sheep

Drought pushes up sheep price for Eid in Morocco

The price for a sheep in Morocco for the annual sacrifice at Eid al-Adha has increased on average at 10 times the 2.2 percent rate of inflation. A medium-sized female sheep costs MAD4000 ($400) as opposed to MAD3000 last year. This puts it out of range for many families in the country where a high […]