(MENAFN- Khaleej Times) PureHealth, an Abu Dhabi based holding company and the largest healthcare platform in the Middle East, has signed an agreement to acquire Circle Health Group, UK's largest independent operators of hospitals, in a deal valued at $1.2 billion. Circle Health Group joins a roster of world-class healthcare providers that make up PureHealth companies, including SEHA – Abu Dhabi Health Services Company; Daman – Nation Health Insurance Co.; PureLab - which is the Gulf Cooperation Council's largest lab network; Rafed – Group Procurement Organisation; Abu Dhabi Stem Cells Centre, which leads cutting edge stem cell research.
The acquisition of Circle Health Group is PureHealth's first entry into the UK. This acquisition forms part of PureHealth's global expansion programme, which includes acquisitions previously completed in the USA, as well as entry in other international markets. Patients in the and the UK will benefit from PureHealth's acquisition, both through the diversity of choice in healthcare provision, expanded network of medical professionals and expertise combined with knowledge sharing that will be developed.
Circle Health Group offers UK's largest national network of private hospitals. It also offers innovative neurological and musculoskeletal rehabilitation services and pathway management services and is the first European healthcare provider to enter the Chinese market. In 2019, Centene Corporation, a leadinghealthcare enterprise and Fortune 500 company, invested in Circle Health Group and acquired the remaining equity interests in July 2021.
As part of the strategic acquisition, PureHealth will gain 100 per cent of Circle Health Group's portfolio, which includes specialties such as orthopaedics, oncology, cardiothoracic surgery, ophthalmology, neurosurgery and general surgery, as well as the new state-of-the-art hospitals that Circle Health Group has recently focused on building, including the UK's first purpose-built state-of-the-art rehabilitation hospital.
Farhan Malik, managing director and group chief executive officer of PureHealth, Brent Layton Centene Corporation's senior advisor and Beau Garverick, Centene Corporation's senior vice president of corporate development, attended a signing ceremony held in London to formalise the acquisition of Circle Health Group by PureHealth.
Commenting on the acquisition, Hammad Al Ameri, CEO & Managing Director of Alpha Dhabi Holding PJSC, listed on the Abu Dhabi Securities Exchange, said:“This acquisition is a major milestone for our associate company, PureHealth Holding LLC, and we are confident that it will positionfor continued growth and success”.
Farhan Malik said:“We are delighted to welcome Circle Health Group into the PureHealth family. This acquisition marks an important milestone in our journey towards creating a global healthcare network which revolutionises patient care. Our mission at PureHealth is to drive scientific innovation to unlock longevity and greater quality of life for humankind. Through integrating the expertise of both organisations, we positively impact the lives of patients globally. PureHealth, as the region's largest healthcare group, is well-positioned to make significant contributions to the improvement of healthcare systems and access to world-class medical services in the and beyond.”
“Circle Health Group is an innovative healthcare organisation that has had a significant impact for the benefit of patients across the United Kingdom. We are confident that this business will continue to thrive – providing access to high-quality care and delivering improved clinical outcomes under the ownership of PureHealth,” said Centene CEO Sarah London.“This transaction marks another milestone in our portfolio review and showcases continued momentum against our value creation plan.”
Circle Health Group comprises over 8,200 dedicated employees and 6,500 consultants, working in over 60 specialties, in over 50 hospitals across the UK and over 150 theatres, with more than two million visits per annum and driving over c.USD 1.3 billion in revenue and delivering exceptional healthcare and comprehensive health solutions.
Circle Health Group was founded in 2004 and the group has grown through acquiring BMI Healthcare, one of the most prestigiand largest private hospital groups in the UK, which was founded in1987, which PureHealth will now take on board.
This acquisition has the potential to deliver wide-ranging benefits to the UAE's and the UK's healthcare ecosystem. These benefits include the expansion of clinical knowledge and delivery of new medical techniques through enhanced collaboration between medical professionals, as well as the use of cutting-edge technologies and provision of broadened treatment options for patients in the UAE. Additionally, the acquisition underlines the UAE's increasing position as a global pioneer in the provision of world-class healthcare.
In 2022, Circle Health Group was named Private Hospital Group of the Year and one of the Top 25 Best Big Companies to Work For. Additionally, Circle Health Group has been recognised as the UK's most innovative and technologically advanced hospital provider due to the significant investments made in the use of in robotics, AI, fully digital pathways and online booking services. Ninety per cent of adults in the UK live within 90 minutes of a Circle Health Group hospital.
PureHealth recently completed a $500 million purchase of an equity investment in Ardent Health Services, which is the US's fourth largest private healthcare group operating across six states.