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United Arab Emirates-based healthcare platform Pure Health announced Friday (Sept. 2) that it has entered into an agreement to acquire a minority equity investment in U.S.-based Ardent Health Services.
To do so, Pure Health will purchase an interest from the majority owner, Equity Group Investments (EGI). Ardent is the fourth-largest privately-held acute care hospital operator in the U.S., per the release, and it has 30 hospitals and over 200 sites of care across six states.
“One of EGI’s strengths is partnering with like-minded individuals with the experience and passion for how we approach investment opportunities,” said Sam Zell, founder and chair of EGI. “We look forward to developing a productive relationship with Pure Health as they continue to explore the various dynamics of the U.S. healthcare system.”
Farhan Malik, CEO of Pure Health, said the agreement would be a boon for both parties.
“This is an exciting opportunity for Pure Health, as we continue to build relationships with leading U.S. healthcare providers to leverage the highest standards and best clinical practices to provide an unrivalled healthcare experience for patients in the UAE,” Malik said. “Ardent has a strong track record of delivering outstanding services across the United States, and we look forward to gaining additional knowledge to support our north star of advancing the science of longevity and unlocking time for humanity.”
In other healthcare news, PYMNTS wrote that the Federal Trade Commission is probing Amazon’s $3.9 billion deal for One Medical.
Read more: Amazon’s One Medical Acquisition Investigated by FTC
One Medical has several clinics in various U.S. markets. The company disclosed the investigation in a securities filing, saying both it and Amazon had received a request for more information.
The bid to buy One Medical was the first acquisition announced by Amazon under the tenure of new CEO Andy Jassy, as he wanted to get more into healthcare. The buy would allow the eCommerce giant to access 180 clinics in two dozen U.S. markets.
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