PureHealth's Ardent Health completes New York Stock Exchange IPO
Date
7/22/2024 8:50:25 AM
(MENAFN) PureHealth has successfully completed the initial public offering (IPO) of its subsidiary, Ardent Health Partners, on the New York Stock Exchange. Ardent Health offered 14,300,000 shares of its stock at USD16 per share, beginning trading on July 18 under the symbol "ARDT". This IPO is anticipated to bolster Abu Dhabi's standing as a key investor in the U.S. healthcare sector, highlighting its significant role in delivering innovative healthcare services in alignment with Abu Dhabi Economic Vision 2030. The listing aims to solidify Abu Dhabi's position in the global healthcare landscape, elevate the quality of healthcare services provided, and affirm the emirate's leadership in exceptional healthcare.
This strategic move aligns with Pure Health's objective to offer valuable services to its shareholders through sustained and strategic growth. It also opens doors for future mergers and acquisitions, enhancing the group's presence in both global and local markets. Shaista Asif, CEO of Pure Health Group, remarked that although PureHealth has been an investor in Ardent Health since April 2023, the successful IPO underscores their strategic vision and commitment to improving healthcare services worldwide. Asif emphasized that this development supports PureHealth's growth goals and demonstrates their ability to deliver substantial value to clients and investors globally.
In September 2022, Pure Health acquired approximately 26.05 percent of Ardent Health in a deal valued at AED 1.8 billion (USD500 million). Regulatory approvals for the completion of this deal were secured in March 2023, paving the way for the subsequent IPO and furthering PureHealth's strategic expansion in the healthcare sector.
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