The largest healthcare group in the United Arab Emirates, Pure Health, has expanded its portfolio in anticipation of an IPO in Abu Dhabi next month by acquiring PureCS, a Dubai-based provider of IT services.
In a statement released on Thursday, Pure Health stated that the acquisition of PureCS in its entirety will enable it to leverage cutting-edge technology to improve its services and solutions, which are “underpinned by the importance of the role of AI and technology in the healthcare and consumer sector.”
The National was not given the deal’s value by Pure Health, which is supported by International Holding Company and Alpha Dhabi Holding.
The acquisition, according to Pure Health’s group chief executive and managing director Farhan Malik, “further strengthens our position as we continue to revolutionize the healthcare industry.”
“We are committed to raising the bar for healthcare excellence to further improve patient care not only in the UAE but throughout the world within our international assets, thanks to the additional capabilities of our dedicated tech company within the group.
“Against the backdrop of continual digital advancements, it is imperative that we remain at the forefront, harnessing cutting-edge, digital-first technologies and cloud-based healthcare solutions that provide positive impacts on the lives of individuals and communities.”
The global healthcare sector is utilizing cutting-edge technology in response to consumer demand for more convenient and on-demand services and the global adoption of digital transformation.
According to Grand View Research data, the global digital health market is expected to grow at a compound annual rate of 18.6%, from an estimated $211 billion last year to roughly $826 billion by 2030.
Junaid Khan, Pure Health’s chief technology officer, stated, “This acquisition will enable us to create a comprehensive health tech platform, with a holistic view of IT system requirements, rather than an ecosystem operating in silos.”
Amidst the ongoing IPO momentum in the Emirates, PureHealth this week announced plans to launch an initial public offering next month and list its shares on the Abu Dhabi Securities Exchange.
At the time, Mr. Malik stated that the IPO would “position Abu Dhabi as a front-runner in the global healthcare landscape”. However, the company did not disclose the amount it hopes to raise through the IPO.
Today, Pure Health employs more than 24,000 people and operates a network of more than 25 hospitals, 160 labs, and 100 clinics.
The company made a commitment in June of last year to invest Dh10 billion ($2.7 billion) in UAE product procurement and economic support over the next ten years.
On the other hand, PureCS’s website states that it is involved in cloud services, AI information systems, full end-to-end IT services and supplies, IT management and consulting solutions, and IT systemization.