Alpha Dhabi Holding Unit acquires stake in Ardent Health Services

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Published on 09/29/2022


Alpha Dhabi Holding subsidiary Pure Health, the largest integrated healthcare platform in the United Arab Emirates (UAE), has entered into a definitive purchase agreement to acquire a minority stake in Ardent Health Services (Ardent), a US healthcare provider based in Nashville, Tennessee, for a total investment of US$500 million. The investment is subject to customary closing conditions and will be finalized upon receipt of all necessary US regulatory approvals. Ardent is owned by current and former members of the Ardent management team; Equity Group Investments (EGI), a Chicago-based private investment firm; and Ventas, Inc. (NYSE: VTR), a publicly traded real estate investment trust.

Ardent is the fourth largest private operator of acute care hospitals in the United States, with 30 hospitals and more than 200 care sites in six states, and approximately 26,000 employees. Pure Health would make a minority equity investment by purchasing a stake in Ardent from Equity Group Investments (EGI), a Chicago-based private investment firm and majority owner of Ardent.

As part of its investment, Pure Health would receive observer rights to the board of directors but would not have a seat on Ardent’s board. The investment does not include plans to expand Ardent’s physical footprint or collaboration between Ardent and Pure Health in the delivery of care.

On July 7, 2022, Equity Group Investments acquired a majority stake in Ardent Health Services, valuing the company at US$475 million. Ventas has agreed to retain a 9.9% stake.

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