Pure Health invests $500M in Ardent to expand the company footprint
Category: #health  | By Nikita Chaurasia  | Date: 2022-09-05 |
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

Pure Health invests $500M in Ardent to expand the company footprint

Pure Health, an integrated healthcare solutions platform, publicized its plans to procure a minority equity share in Ardent Health Services, one of the leading US-based healthcare companies, with an investment of $500 million.

According to credible sources, the investment is said to be subjected to standard closing conditions and would be finalized after receiving all necessary US regulatory approvals.

It has been reported that the latest investment in Ardent, one of the most-recognized private hospital operators in the US, will apparently assist Pure Health in expanding its foothold in the US healthcare marketplace.

Reportedly, Pure Health, Alpha Dhabi Holding subsidiary, would be achieve a minority equity investment by acquiring an interest in Ardent from EGI (Equity Group Investments), a Chicago-based private investment firm and majority owner of Ardent.

Moreover, it would also be receiving board observer rights but will not have a seat on Ardent’s board of directors.

However, the investment will not cover the plans for either Ardent’s global expansion or cooperation between Ardent and Pure Health in care delivery.

Furthermore, Equity Group Investments recently hosted a signing ceremony which was attended by Sam Zell, Founder & Chairman of EGI, Farhan Malik, CEO of Pure Health, and Marty Bonick, President & Chief Executive Officer of Ardent.

Commenting on the latest development, Sam Zell, Founder & Chairman of EGI, stated that EGI’s strength is collaborating with like-minded individuals/firms that hold experience and passion in approaching investment opportunities like EGI.

Sam further stated that the firm looks forward to building a solid relationship with Pure Health as it continues to explore several dynamics of the US healthcare system.

For the unversed, Ardent currently owns 30 hospitals and has 200+ sites of care across six states with 26,000 employee members on the staff.

Source Credit - https://www.zawya.com/en/business/healthcare/pure-health-signs-deal-to-invest-500mln-in-us-healthcare-firm-qanxsru2

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Nikita Chaurasia     twitter

Nikita Chaurasia

Having always been daft at wordplay, Nikita Chaurasia, post the completion of post-graduation, commenced her journey into the content generation cosmos. Endowed with a professional MBA degree in Advertising and Public Relations, Nikita strives to integrate her creativ...

Read More..

More News By Nikita Chaurasia

Fintech firm PayPal to shed around 2000 staff as global economy plummets

Fintech firm PayPal to shed around 2000 staff as global economy plummets

By Nikita Chaurasia

PayPal, the U.S.-based fintech giant, has reportedly announced that it will cut nearly 2000 jobs, approximately 7% of its workforce, as it turns the latest prominent tech company to shed staff in a bid to cut costs. The online payments provider cl...

EasyJet sees a rise in bookings as customers plan their next vacations

EasyJet sees a rise in bookings as customers plan their next vacations

By Nikita Chaurasia

British multinational low-cost airline group, EasyJet, has reported a record surge in bookings for the month of January as people prioritized their travel plans for the coming year. The news comes as airlines world over start to show signs that they&...

Dr. Reddy’s becomes India’s second biggest drugmaker by sales

Dr. Reddy’s becomes India’s second biggest drugmaker by sales

By Nikita Chaurasia

Dr. Reddy's Laboratories Ltd. and Cipla Ltd. surpassed Aurobindo Pharma to rank as the 2nd and 3rd largest drug manufacturers in India by sales in the three months that ended on September 30. This was the first change in the pecking order of the ...