Abu Dhabi’s ADQ has kicked off the new year with one of its biggest healthcare mergers yet.
The asset owner and investor – considered one of the GCC’s largest holding companies – has announced that it has entered into an agreement to “consolidate several companies within Pure Health”, a UAE-based integrated healthcare solutions provider.
Companies set to become part of Pure Health include Abu Dhabi Health Services Company (SEHA), the National Health Insurance Company PJSC – better known as Daman – Tamouh Healthcare, Yas Clinic Group, and Abu Dhabi Stem Cell Center.
The merger – which is subject to customary closing conditions, including regulatory approvals, ADQ confirmed – will reportedly result in creating the largest healthcare provider in the UAE.
“Pure Health will be instrumental in transforming the provision of healthcare as we consolidate several companies into the platform,” said H.E. Mohamed Hassan Alsuwaidi, CEO of ADQ. “We are further driving efficiencies to establish the UAE’s largest healthcare network, underpinned by clinical excellence, through elevated services, optimised healthcare spend[ing], and improved efficiencies across the value chain.
“Combining the strength of clinical powerhouses and the UAE’s leading health insurer will develop a scalable healthcare platform for growth.”
THE LARGER CONTEXT
Established in 2018, ADQ’s portfolio includes businesses in healthcare and pharma, energy and utilities, food and agriculture, and mobility and logistics.
Pure Health, meanwhile, offers a diversified services portfolio that comprises healthcare informatics, hospital management, laboratory services – including COVID-19 PCR testing – and medical supplies.
Following completion of this merger, ADQ will become the largest shareholder in Pure Health. The company’s other shareholders are Alpha Dhabi Holding, International Holding Company (IHC), AH Capital and Ataa Financial Investments.
WHY IT MATTERS
Offering the largest integrated healthcare ecosystem means that Pure Health “will significantly contribute to the UAE’s healthcare landscape and deliver on the country’s mission to elevate the health and wellbeing of citizens and residents,” ADQ said in a statement. “Patients will benefit from access to greater clinical expertise and healthcare services across the spectrum of care.”
In March of last year, ADQ transferred ownership of its healthcare support service entities – Rafed and Union71 – to Pure Health.
ON THE RECORD
“Pure Health remains committed to delivering convenient, accessible, and transparent healthcare as we become the largest integrated healthcare services platform in the UAE,” said Farhan Malik, CEO and Managing Director of Pure Health. “We believe that healthcare is too important to remain the same.
“Our north star is to enable greater longevity of humankind, and we will constantly work towards a healthier and longer life for the people of UAE.”