PureHealth’s Ardent Health now trading on NYSE

UAE —PureHealth, the UAE’s largest integrated healthcare network, has completed the initial public offering (IPO) of its subsidiary, Ardent Health Partners, on the New York Stock Exchange (NYSE).

 Ardent Health offered 14,300,000 shares of its common stock at US$16 per share in this historic offering, which began trading on July 18, 2024, under the symbol ARDT.

The successful listing of Ardent Health on the New York Stock Exchange establishes Abu Dhabi as a leading investor in the US market. It considerably boosts the emirate’s position as a hub for innovative healthcare solutions.  

This accomplishment is consistent with the Abu Dhabi Economic Vision 2030, which aims to bolster the emirate’s position in the global healthcare market, increase community health outcomes, and reinforce its status as a leader in healthcare excellence.

This development also strengthens PureHealth’s shareholder value generation strategy, which includes organic and strategic expansion.

It provides the way for future mergers and acquisitions, which will boost PureHealth’s presence in both domestic and foreign markets.

Shaista Asif, PureHealth’s Group Chief Executive Officer, remarked on the IPO, stating that despite only being an Ardent investor since April 2023, the company’s successful IPO debut demonstrates PureHealth’s strategic vision and global dedication to improving healthcare services.

Asif emphasized that this success is consistent with their growth goals and proves their capacity to provide significant value to their stakeholders and investors, both locally and globally.

 She also stated that PureHealth is on a solid growth trajectory, opening new avenues in healthcare via innovation and excellence.

This trajectory is supported by its foreign acquisitions, ambitious aspirations, and Abu Dhabi and the UAE’s visionary leadership.

PureHealth’s investment journey with Ardent began in September 2022, when it acquired a 26.05 percent equity stake in Ardent for AED1.8 billion (US $500 million), with regulatory approvals and the transaction completed in March 2023.

 Ardent Health is recognized as the fourth-largest privately held acute care hospital operator in the US.

It operates through a network of 30 acute care hospitals and over 200 care sites across six states: Texas, New Mexico, Kansas, Oklahoma, Idaho, and New Jersey.

Ardent Health is dedicated to improving healthcare accessibility and quality by prioritizing people and investing in innovative services and technologies.

PureHealth’s recent significant acquisitions, notably the purchase of Circle Health for AED4.4 billion (US$1.2 billion) and Sheikh Shakhbout Medical City for AED 2.2 billion (US $600 million), have strengthened its position as a worldwide healthcare investment platform.

These investments strengthen PureHealth’s ability to uncover and cultivate value in the healthcare sector, increasing investor trust. 

Sign up to receive our email newsletters  with  latest news updates and  insights from Africa and the World HERE