Abu Dhabi’s newest sovereign fund, ADQ, has partnered with several companies within Pure Health to create the largest healthcare provider in the United Arab Emirates.
As part of the agreement, Abu Dhabi Health Services Company (SEHA), and The National Health Insurance Company PJSC (Daman) will merge into Pure Health. Additionally, Tamouh Healthcare, Yas Clinic Group and Abu Dhabi Stem Cell Centre will also become a part of Pure Health, which already has a diversified services portfolio of hospital management, laboratory services, medical supplies and healthcare informatics.
ADQ will become the largest shareholder in Pure Health; other shareholders include Alpha Dhabi Holding, International Holding Company (IHC), AH Capital and Ataa Financial Investments.
“This unique eco-system, with a keen focus on combining technology with healthcare, creates a scalable platform for international growth, driving recognition and value for the nation and our investors. Going forward, Pure Health will actively seek expansion opportunities globally to further diversify its portfolio and leverage its success in the UAE,” Mohamed Thani Murshed Al Rumaithi, chairman of Alpha Dhabi Holding, said.
Pure Health, as part of the consolidation, will drive a patient-centred ecosystem in the UAE, according to a statement from the companies.
Mohamed Hassan Alsuwaidi, chief executive officer of ADQ, said: “Pure Health will be instrumental in transforming the provision of healthcare as we consolidate several companies into the platform. Combining the strength of clinical powerhouses and the UAE’s leading health insurer will develop a scalable healthcare platform for growth.”
ADQ is one of the fastest expanding sovereign funds in the region, amassing an estimated $110 billion in assets since 2018. The fund is especially focused on energy and utilities, food and agriculture, mobility and logistics, as well as healthcare and pharma.
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