Abu Dhabi-based health care network Pure Health has signed an agreement to buy one of the United Kingdom’s largest independent hospital operators from Centene Corp. for an enterprise value of about $1.2 billion.
(Bloomberg) — Abu Dhabi-based health care network Pure Health has signed an agreement to buy one of the United Kingdom’s largest independent hospital operators from Centene Corp. for an enterprise value of about $1.2 billion.
The acquisition of Circle Health Group, which operates 53 hospitals, is expected to close in the first quarter of 2024. The deal marks the first foray into the UK for Pure Health, which this year completed the purchase of a minority stake in US-based Ardent Health Services.
Abu Dhabi sovereign wealth fund ADQ, Pure Health’s largest shareholder, last year consolidated several companies and merged them into Pure Health to create the largest health-care provider in the United Arab Emirates. Its other shareholders include International Holding Co., which is working on listing Pure Health.
Read More: Abu Dhabi Wealth Fund ADQ to Form UAE’s Largest Health-Care Firm
Barclays is serving as financial adviser to Centene and Dickson Minto is serving as its legal counsel.
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