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Pure Health, the UAE’s largest healthcare group, has agreed to acquire Circle Health, the UK’s largest private healthcare company, from Centene Corporation in a deal valued at AED 4.41 billion ($1.2 billion).
The acquisition marks Pure Health’s first entry into the UK market, the company said in a statement on Monday.
“Our mission at Pure Health is to drive scientific innovation to extend human life and improve quality of life,” said Farhan Malik, Managing Director and Group CEO of Pure Health.
“By combining the expertise of both organizations, we are making a positive impact on the lives of patients around the world.”
The latest data from the Office for National Statistics shows that the current total health care expenditure in the UK in 2020 is about 258 billion pounds (about 326 billion US dollars), accounting for 12% of gross domestic product, while it was close to 10% in 2019.
In 2020, UK healthcare spending grew by about 16% in nominal terms and 10% in real terms after adjusting for inflation; according to the government agency, this was the fastest growth rate recorded in a time series that began in 1997.
In January last year, Abu Dhabi holding company ADQ signed an agreement to combine its healthcare subsidiaries, including Abu Dhabi Health Services Company (commonly known as Seha) and National Health Insurance Company (Daman), with Alpha Dhabi’s Pure Health Merger to create Emirates’ largest healthcare provider.
ADQ merged its healthcare entities Rafed and Union71 with Pure Health in 2021.
Pure Health currently has a network of more than 25 hospitals, 160 laboratories, 100 clinics and more than 24,000 employees.
In June last year, Pure Health committed to spending Dh10 billion over the next 10 years to purchase products in the UAE and support the country’s economy.
The company recently completed a Dh1.8 billion acquisition of an equity investment in Ardent Health Services, the fourth largest private healthcare group in the United States with operations across six states.
In October, the company said it was pursuing cutting-edge science to help people live longer than they do now — with the goal of having everyone live to 101.
Hammad Al Ameri, CEO and Managing Director of Alpha Dhabi Holding, an Abu Dhabi-listed company, said: “This acquisition is an important milestone for our associated company Pure Health Holding, which we believe will set the stage for our continued growth and success. Base. ” .
Founded in 2004, Circle Health has more than 8,200 staff and 6,500 consultants working in more than 60 specialties in more than 50 hospitals across the UK.
According to an official statement, Circle Group receives more than 2 million visits annually and generates revenue of more than AED 4.7 billion.
As part of the latest acquisition, Pure Health will acquire 100% of the company’s portfolio.
“Circle Health…makes a significant impact for the benefit of patients across the UK. We believe the business will continue to thrive – delivering high quality care and improving clinical outcomes under Pure Health’s ownership,” Sarah Sarah London, CEO of Centene.
Update time: 3:43 am on August 29, 2023
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