ABU DHABI: PureHealth has successfully concluded the initial public offering (IPO) of its subsidiary, Ardent Health Partners, on the New York Stock Exchange (NYSE).
Ardent Health offered 14,300,000 shares of its common stock at $16 per share, with trading commencing on 18th July 2024, under the ticker ARDT.
The successful listing of Ardent Health on the NYSE positions Abu Dhabi as a key investor in the US market and strengthens the emirate’s position as a hub for innovative healthcare solutions. This aligns with the Abu Dhabi Economic Vision 2030 and supports the emirate’s standing in the global healthcare market, improves community health outcomes, and affirms its position as a leader in healthcare excellence.
Additionally, this development bolsters PureHealth’s strategy of creating shareholder value through organic and strategic growth and opens avenues for future mergers and acquisitions, enhancing PureHealth’s presence in both international and local markets.
Shaista Asif, Group Chief Executive Office
r at PureHealth, said, ‘Although we have only been an investor in Ardent since April 2023, the successful launch of its IPO is a testament to our strategic vision and commitment to enhancing healthcare services globally. This not only aligns with our growth objectives, but also demonstrates our capability to deliver substantial value to our stakeholders and investors, both locally and globally.’
In September 2022, PureHealth acquired a 26.05 percent equity stake in Ardent for AED1.8 billion (US$500 million), with regulatory approvals. The transaction was completed in March 2023.
Ardent Health is the fourth-largest privately held acute care hospital operator in the US. By prioritising people and investing in innovative services and technologies, Ardent Health is dedicated to improving healthcare accessibility and quality.
Source: Emirates News Agency