PureHealth Holding, the largest healthcare platform in the Middle East, has announced its intention to proceed with an initial public offering (IPO) and subsequently list its shares on the Abu Dhabi Securities Exchange (ADX). 

 

Subject to obtaining regulatory approvals and other relevant considerations it is expected that trading on ADX will commence in December 2023.

 

Shareholders in PureHealth are currently Alpha Dhabi Holdingand International Holding Company (IHC) Healthcare Holding LLC, subsidiaries of the Abu Dhabi based conglomerate IHC; and ADQ, an Abu Dhabi-based investment and holding company, by way of a wholly owned subsidiary.

 

Major milestone

Hamad Al Hammadi, Chairman of the Board of Directors of PureHealth, said: “We are confident that the power of innovation and progress, which has brought PureHealth to the cusp of this major milestone, will continue to drive the company forward and effect positive change within the sector. Testament to the continued dynamism and vibrancy of Abu Dhabi’s capital markets, the planned listing would allow PureHealth to claim a position among the world’s leading healthcare groups, benefitting people in an increasing number of countries while reliably leading the way in executing development objectives of our nation.” 

 

Farhan Malik, Managing Director of PureHealth, said: “This IPO will enable PureHealth to continue to solidify its position as national champion, expand the depth and geographic reach of groundbreaking innovation for patients, healthcare technology, expansion globally through acquisitions and positioning Abu Dhabi at the forefront of healthcare globally. 

 

“Aligned with the UAE leadership’s vision for a progressive and sustainable society, this IPO will position Abu Dhabi as a frontrunner in the global healthcare landscape. This is a critical milestone for the UAE as PureHealth continues to revolutionise healthcare by deploying health tech platforms and expanding globally, ensuring efforts to deliver the best in healthcare from Abu Dhabi to the world.”--TradeArabia News Service