The Abu Dhabi state investor ADQ-backed PureHealth has signed an agreement to acquire Circle Health Group, the UK-based independent operator of hospitals in a deal valued at 4.41 billion dirhams ($1.2 billion).
The acquisition would be healthcare platform's first entry into the UK market and forms part of its global expansion, the Abu Dhabi Media Office said in a statement on Monday.
As part of the acquisition, PureHealth will gain 100% of Circle Health Group’s portfolio, as well as the new state-of-the-art hospitals, including the UK’s first purpose-built state-of-the-art rehabilitation hospital.
ADQ, which manages about $157 billion in assets, has a pharma portfolio, which also includes a stake in Indian biosimilars producer Biocon Biologics.
It merged its health care subsidiaries with Alpha Dhabi’s Pure Health Medical Supplies in 2022 to create PureHealth, which includes Abu Dhabi Health Services Company (SEHA), The National Health Insurance Company PJSC (DAMAN), Tamouh Healthcare, Yas Clinic Group and Abu Dhabi Stem Cell Center.
In May this year, PureHealth completed an equity investment of AED 1.8 billion in US healthcare provider Ardent Health Services.
(Writing by Brinda Darasha; editing by Seban Scaria)