Abu Dhabi: Abu Dhabi-headquartered PureHealth acquired the UK-based operator of hospitals Circle Health Group for $1.2 billion (Dh4.4 billion), the company announced Monday. The Circle Health Group acquisition is Pure Health’s first entry into the UK.
Following the acquisition, the company will gain 100 per cent of Circle Health Group’s portfolio, including new hospitals the operator has been building and UK’s first rehabilitation hospital.
Hammad Al Ameri, CEO and Managing Director of Alpha Dhabi Holding PJSC, Pure Health’s parent company listed on ADX, said, “This acquisition is a major milestone for our associate company, PureHealth Holding LLC, and we are confident that it will position us for continued growth and success”.
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Founded in 2004, Circle Health Group is said to offer the UK’s largest national network of private hospitals. In 2019, US Fortune 500 Company Centene Corporation invested in Circle Health Group and acquired the remaining equity interests in July 2021.
“We are confident that this business will continue to thrive – providing access to high-quality care and delivering improved clinical outcomes under the ownership of PureHealth,” said Centene Chief Executive Officer Sarah London. “This transaction marks another milestone in our portfolio review and showcases continued momentum against our value creation plan.”
UAE, UK to benefit
The acquisition is expected to deliver wide-ranging benefits to the UAE’s and the UK’s healthcare ecosystem, officials said. This includes expansion of clinical knowledge and delivery of new medical techniques through enhanced collaboration between medical professionals. UAE patients will also have access to broadened treatment options.
Farhan Malik, Managing Director and Group CEO of PureHealth, said, “This acquisition marks an important milestone in our journey towards creating a global healthcare network that revolutionises patient care. By integrating the expertise of both organisations, we positively impact patients’ lives globally.”
More than 8,200 employees and 6,500 consultants are employed with Circle Health. They work in over 50 hospitals across the UK, covering over 60 specialities. With over 150 operating theatres and over two million visits annually, the company generates approximately $1.3 billion in revenue. It is also the first European healthcare provider to enter the Chinese market. About 90 per cent of adults in the UK live within 90 minutes of a Circle Health Group hospital.
PureHealth, on the other hand, has a network of over 25 hospitals, health insurance, more than 160 laboratories, over 100 clinics and a workforce of over 24,000 employees. The company also recently completed a $500 million purchase of an equity investment in Ardent Health Services, the US’s fourth largest private healthcare group operating across six states.
