People & Lifestyle Pure Health buys Abu Dhabi hospital stake for $150m By Pramod Kumar January 30, 2024, 7:06 AM 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. Pure Health acquires UK’s Circle Health for $1.2bn Shares in Abu Dhabi’s Pure Health surge on bourse debut High demand puts Pure Health IPO order book at $72bn 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.
