UAE-based PureHealth has significantly expanded its presence in the US healthcare market through its subsidiary, Ardent Health, which acquired 18 urgent care clinics from NextCare Urgent Care on January 7, 2025. This acquisition includes six clinics in New Mexico, operating under Lovelace Health System, and 12 clinics in Oklahoma, affiliated with Hillcrest HealthCare System. This strategic move follows Ardent's earlier acquisition of nine urgent care centers in East Texas and Topeka, Kansas, in 2024, demonstrating a clear strategy to enhance healthcare accessibility and broaden Ardent's network across the United States.
The expansion aligns with PureHealth's investment strategy in Ardent Health, which included an IPO in July 2024, a year after PureHealth initially invested in May 2023. The financial performance of Ardent Health has been promising, reporting $1.45 billion in revenue for Q3 2024, marking a 5.2% increase from the previous year. CEO Marty Bonick emphasized the importance of expanding urgent care access to improve patient convenience and support network growth.
In addition to this acquisition, Ardent Health is also preparing for an IPO targeting a valuation of approximately $3.15 billion, with plans to raise up to $314.6 million by selling shares priced between $20 and $22 each. The shares will be listed under the symbol 'ARDT', with J.P. Morgan, BofA Securities, Morgan Stanley, and Stephens Inc. as lead underwriters. This IPO reflects the ongoing interest in the healthcare sector as companies seek to raise capital for expansion and operational improvements. [b817aedc] [5efce926] [10544da0]