Abu Dhabi – Mubasher: Abu Dhabi Health Services Company (SERA), a wholly owned subsidiary of Pure Health Holding, has signed a definitive agreement to acquire Mayo Clinic's interest in Sheikh Shakbout Medical City (SSMC).
SERA plans to purchase 25,000 shares, equivalent to 25% of the total issued shares of SSMC, at a value of $150 million, according to a bourse statement.
The transaction will impact the ADX-listed company’s business and financial results from 31 March 2024 until the full year.
SSMC generated revenues amounting to AED 2.15 billion in 2023, while the net profits hit nearly 14.70 million. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at AED 105 million.
Earlier this month, PureHealth fully acquired Circle Health Group in exchange for $1.20 billion.
