UAE’s PureHealth Acquires UK’s Largest Private Healthcare Group for $1.2 Bln

The acquisition of Circle Health Group is PureHealth’s first entry into the UK. WAM
The acquisition of Circle Health Group is PureHealth’s first entry into the UK. WAM
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UAE’s PureHealth Acquires UK’s Largest Private Healthcare Group for $1.2 Bln

The acquisition of Circle Health Group is PureHealth’s first entry into the UK. WAM
The acquisition of Circle Health Group is PureHealth’s first entry into the UK. WAM

UAE’s PureHealth has signed an agreement to acquire Circle Health Group, the UK’s largest independent operators of hospitals, in a deal valued at AED4.41 billion ($1.2 bln).

Circle Health Group joins a roster of world-class healthcare providers that make up PureHealth companies, including SEHA – Abu Dhabi Health Services Company; Daman – Nation Health Insurance Co.; PureLab - which is the Gulf Cooperation Council’s largest lab network; Rafed – Group Procurement Organization; and Abu Dhabi Stem Cells Centre, which leads cutting-edge stem cell research.

The acquisition of Circle Health Group is PureHealth’s first entry into the UK. This acquisition forms part of PureHealth’s global expansion program, which includes acquisitions previously completed in the US, as well as entry in other international markets.

Patients in the UAE and the UK will benefit from PureHealth’s acquisition, both through the diversity of choice in healthcare provision, expanded network of medical professionals and expertise combined with knowledge sharing that will be developed.

Circle Health Group offers the UK’s largest national network of private hospitals. It also offers innovative neurological and musculoskeletal rehabilitation services and pathway management services and is the first European healthcare provider to enter the Chinese market.

As part of the strategic acquisition, PureHealth will gain 100 percent of Circle Health Group’s portfolio, which includes specialties such as orthopedics, oncology, cardiothoracic surgery, ophthalmology, neurosurgery and general surgery, as well as the new state-of-the-art hospitals that Circle Health Group has recently focused on building, including the UK’s first purpose-built state-of-the-art rehabilitation hospital.

Farhan Malik, Managing Director and Group CEO of PureHealth, Centene Corporation’s Senior Advisor, Brent Layton, and Senior Vice President of Corporate Development, Beau Garverick, attended a signing ceremony, held in London to formalize the acquisition of Circle Health Group by PureHealth.

“This acquisition is a major milestone for our associate company, PureHealth Holding LLC, and we are confident that it will position us for continued growth and success,” said Hammad Al Ameri, CEO and Managing Director of Alpha Dhabi Holding PJSC, listed on the Abu Dhabi Securities Exchange.

For his part, Malik said: “This acquisition marks an important milestone in our journey towards creating a global healthcare network which revolutionizes patient care. 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 organizations, we positively impact the lives of patients globally.”

Circle Health Group comprises more than 8,200 employees and 6,500 consultants, working in more than 60 specialties, in more than 50 hospitals across the UK and more than 150 theaters, with more than two million visits per annum and driving over AED47.75 billion in revenue and delivering exceptional healthcare and comprehensive health solutions.

This acquisition has the potential to deliver wide-ranging benefits to the UAE and UK’s healthcare ecosystem. These benefits include the expansion of clinical knowledge and delivery of new medical techniques through enhanced collaboration between medical professionals, as well as the use of cutting-edge technologies and provision of broadened treatment options for patients in the UAE. Additionally, the acquisition underlines the UAE’s increasing position as a global pioneer in the provision of world-class healthcare.



Egypt Quarterly Current Account Deficit Eases to $2.1 Billion on Higher Remittances

A man walks in front of the new headquarters of Central Bank of Egypt, in Cairo, Egypt, November 3, 2024. (Reuters)
A man walks in front of the new headquarters of Central Bank of Egypt, in Cairo, Egypt, November 3, 2024. (Reuters)
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Egypt Quarterly Current Account Deficit Eases to $2.1 Billion on Higher Remittances

A man walks in front of the new headquarters of Central Bank of Egypt, in Cairo, Egypt, November 3, 2024. (Reuters)
A man walks in front of the new headquarters of Central Bank of Egypt, in Cairo, Egypt, November 3, 2024. (Reuters)

Egypt's current account deficit narrowed to $2.1 billion in January to March 2025 from $7.5 billion in the same period a year earlier, the central bank said on Tuesday.

The central bank attributed the slimmer deficit to the increase in remittances from Egyptians working abroad, as well as a rise in the services surplus due to higher tourism revenue.

Oil exports declined to $1.2 billion, from $1.4 in the year earlier, while imports of oil products rose to $4.8 from $3.4 billion.

Egypt has sought to import more fuel oil and liquefied natural gas this year to meet its power demands after disruptions to gas supply led to blackouts over the last two years.

Concerns over supplies increased after the pipeline supply of natural gas from Israel to Egypt decreased during Israel’s air war with Iran last month.

Revenues from the Suez Canal, declined to $0.8 billion in the third quarter of the country’s financial year, from $1 billion the same time a year ago, as Yemeni Houthis' attacks on ships in the Red Sea continued to cause disruption.

The Iran-aligned group says it attacks ships linked to Israel in support of Palestinians in Gaza.

Meanwhile, Egypt’s tourism revenues reached $3.8 billion, compared to $3.1 billion in the same period in 2023/24.

Remittances from Egyptians working abroad increased to $9.3 billion, from $5.1 billion. The increase in remittances has helped to reduce the wider trade deficit.

Foreign direct investment hit $3.8 billion, compared to $18.2 billion in the same quarter a year before.

Egypt has suffered an economic crisis exacerbated by a foreign currency shortage, which forced it to undergo economic reforms under an $8 billion IMF program that included allowing its pound to depreciate sharply last year.