CHICAGO–(BUSINESS WIRE)–Alpha Dhabi Holding subsidiary, Pure Well being, the most important built-in healthcare platform of the United Arab Emirates (UAE), right this moment introduced that it has entered right into a definitive buy settlement to amass a minority fairness funding in Ardent Well being Providers (Ardent), a number one U.S. healthcare supplier based mostly in Nashville, Tennessee, for a complete funding of $500 million. The funding is topic to customary closing circumstances and will probably be finalized after receipt of all mandatory U.S. regulatory approvals.
Ardent is the fourth largest privately held acute care hospital operator within the U.S., with 30 hospitals and greater than 200 websites of care throughout six states, and roughly 26,000 workers. Pure Well being would obtain a minority fairness funding by buying an curiosity in Ardent from Fairness Group Investments (EGI), a Chicago-based personal funding agency and majority proprietor of Ardent.
As a part of its funding, Pure Well being would obtain board observer rights however wouldn’t have a seat on Ardent’s board of administrators. The funding doesn’t embrace plans for both the enlargement of Ardent’s bodily footprint or collaboration between Ardent and Pure Well being within the supply of care.
Fairness Group Investments hosted a signing ceremony, which included Farhan Malik, CEO of Pure Well being, Sam Zell, founder and chairman of EGI, and Marty Bonick, president and chief government officer of Ardent.
“Certainly one of EGI’s strengths is partnering with like-minded people with the expertise and fervour for a way we strategy funding alternatives. We sit up for creating a productive relationship with Pure Well being as they proceed to discover the varied dynamics of the U.S. healthcare system,” mentioned Sam Zell.
Commenting on the most important funding announcement, Farhan Malik mentioned, “This landmark funding settlement marks a quantum leap for the UAE and the worldwide healthcare trade.”
“That is an thrilling alternative for Pure Well being, as we proceed to construct relationships with main U.S. healthcare suppliers to leverage the best requirements and finest scientific practices to offer an unrivalled healthcare expertise for sufferers within the UAE,” mentioned Malik. “Ardent has a powerful monitor report of delivering excellent providers throughout america, and we sit up for gaining further data to help our north star of advancing the science of longevity and unlocking time for humanity.”
ABOUT PURE HEALTH
Pure Well being is an built-in healthcare options platform with a diversified portfolio of over 25 hospitals and greater than 100 clinics providing 200+ specialties protecting providers from tertiary care to main care; medical insurance that covers over 2.5 million members; group procurement group; over 150 laboratories; diagnostics providers; rehab providers; long run care; medical provides; and well being know-how providers. With greater than 50 million annual scientific encounters and over 25,000 worker energy, the corporate offers healthcare providers throughout your entire continuum of care.
Pure Well being is dedicated to enhancing longevity and serving to individuals dwell longer, happier, and more healthy lives. The corporate’s facilities of excellence carry collectively scientific data, course of experience, know-how, and analytics to ship outcome-focused, world-class high quality throughout all channels of healthcare with a mandate to future-proof the healthcare system for a world of technological singularity. For extra info, go to www.purehealth.ae.
ABOUT EQUITY GROUP INVESTMENTS
Fairness Group Investments (EGI), based by Sam Zell greater than 50 years in the past, has a protracted monitor report of constructing private and non-private companies, together with the origination and development of multi-billion-dollar corporations. EGI’s versatile capital and open funding mandate allow the agency to pursue opportunistic transactions throughout industries and geographies, all through the capital construction, at any level within the financial cycle. EGI’s present portfolio contains investments in transportation and logistics, well being care, manufacturing, agribusiness, power, retail, waste and infrastructure, and actual property. For extra info, go to www.egizell.com.
ABOUT ARDENT HEALTH SERVICES
Ardent Well being Providers invests in individuals, know-how and communities. Via its subsidiaries, Ardent owns and operates 30 hospitals and greater than 200 websites of care in six states with roughly 26,000 workers, together with 1,200+ employed suppliers. With a give attention to evidence-based practices to enhance high quality care and affected person outcomes, 4 Ardent hospitals have been named to Leapfrog’s Prime Hospitals in 2021, and eight Ardent hospitals acquired a Leapfrog Hospital Security Grade of A for Spring 2022. Primarily based in Nashville, Tennessee, Ardent is owned by present and former members of Ardent’s administration group; Fairness Group Investments (EGI), a Chicago-based personal funding agency; and Ventas, Inc. (NYSE: VTR), a publicly traded actual property funding belief.