📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Abu Dhabi's PureHealth Holding hastens December IPO on ADX

EditorAmbhini Aishwarya
Published 11/21/2023, 12:57 AM
© Reuters.

ABU DHABI - PureHealth Holding, a leading healthcare network based in Abu Dhabi, has accelerated its plans for an initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) for December 2023. This move, confirmed by UAE news sources today, is set to enhance the company's visibility on the local stock exchange and comes amid a period of significant expansion and strategic acquisitions.

The company, supported by key investors such as ADQ and IHC Healthcare Holding, operates an extensive network that includes more than 25 hospitals, over 100 clinics, multiple diagnostic centers, pharmacies, and health insurance products. In addition to its robust presence in the healthcare sector, PureHealth has made strides in health-tech innovation with ventures like Pura, an AI-powered health super-app, and PureNet, a digital health platform.

PureHealth's international growth strategy recently included the acquisition of Ardent Health Services in the United States and Circle Health Group in the United Kingdom. These strategic moves have positioned PureHealth on a trajectory to become a dominant player not only in regional markets but also on an international scale.

Chairman Hamad Al Hammadi expressed confidence that PureHealth's IPO will have a positive influence on the evolution of healthcare and contribute to strengthening Abu Dhabi's economic stature. Managing Director Farhan Malik aligned the upcoming IPO with the UAE’s vision for societal advancement and emphasized Abu Dhabi's ambition to become a global nexus for healthcare excellence.

While details regarding the size of the IPO remain confidential, industry experts point to PureHealth's strategic consolidations and international acquisitions as indicators of its potential impact on both regional and international healthcare markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.