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A subsidiary of Abu Dhabi-listed Pure Health Holding has signed an agreement to buy the Mayo Clinic's shares in Sheikh Shakhbout Medical City (SSMC), in a $150 million deal.
Abu Dhabi Health Services Company (SEHA) will acquire the Mayo Clinic's share in one of the UAE's largest tertiary hospitals. According to the deal, SEHA will acquire 25,000 shares, or 25%, of the total issued shares of SSMC, PureHealth said in an ADX disclosure.
SEHA, which is fully owned by PureHealth, is the largest and most comprehensive healthcare network in the UAE. It has 14,000 employees, 14 hospitals, and more than 70 primary healthcare and ambulatory care clinics.
In the second week of January, PureHealth announced the completion of its strategic acquisition of Circle Health Group, the UK’s largest independent operators of hospitals, marking a significant milestone in the company's global expansion strategy.
(Writing by Seban Scaria; editing by Brinda Darasha)
