UAE's healthcare group PureHealth has agreed to purchase UK-based private healthcare company Circle Health from Centene Corporation, in a deal valued at USD 1.2 billion.
"Circle Health 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," Centene Chief Executive Officer, Sarah London, said in a statement.
"This transaction marks another milestone in our portfolio review and showcases continued momentum against our value creation plan," London said.
Circle Health operates 53 hospitals across every region of Great Britain, providing surgery and treatments to privately insured, self-pay and NHS patients.
The organisation sees two million patients annually and has more than 6,000 consultant specialists.
Centene invested in Circle Health in 2019 and two years later, in July 2021, acquired the remaining equity interests in the company.
"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," said Managing Director and Group Chief Executive Officer of PureHealth, Farhan Malik.
"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 UAE and beyond," Malik added.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2024.
