Abu Dhabi Health Services Company, a subsidiary of PureHealth Holding has acquired 25 percent stake in Sheikh Shakhbout Medical City. The $150 million deal was confirmed in a market disclosure on Monday.
PureHealth Holding, listed under PureHealth, is a major player in the UAE’s healthcare industry. After its successful initial public offering (IPO) in 2023, the company is actively expanding its asset base. This acquisition from Mayo Clinic marks another milestone in its growth path.
Sheikh Shakhbout Medical City, which opened in 2019, stands as one of the largest hospitals in the region, particularly known for serious or complex medical conditions. The facility reported a net profit of Dh14.7 million in 2023, with revenue reaching Dh2.15 billion. It has an impressive capacity to treat 20,000 inpatients, 250,000 outpatients, and 70,000 emergency patients annually.
The move is part of ongoing deal-making activity in the UAE healthcare sector, reflecting the region’s dynamic growth and investment opportunities. SEHA, a state-owned entity that is part of Pure Health Holdings, has played a key role in this process.
Sheikh Shakhbout Medical City is not only a medical facility but also a center for educational and research activities. With nine specialist departments, it plays a vital role in Abu Dhabi’s healthcare sector.
The financial impact of this acquisition will be reflected in Pure Health’s first quarter of 2024 financial statements. Following last week’s acquisition of Circle Health, the UK’s largest privately owned healthcare organization, Pure Health continues to strengthen its position as a leading healthcare provider in the UAE and beyond.
This strategic acquisition underlines Pure Health’s commitment to improve healthcare services and expand its footprint in the healthcare sector both locally and internationally.