The Circle Health deal, at an enterprise value of close to $1.2bn, represents the Centene strategy and continued execution of its value creation effort as it refocuses on core lines of business.
Circle Health operates 53 hospitals across the UK and provides services to privately insured, self-pay and NHS patients.
In addition, it sees two million patients annually and has more than 6,000 consultant specialists.
“Circle Health is an innovative healthcare organisation that has had a significant impact for the benefit of patients across the United Kingdom. We are confident that this business will continue to thrive – providing access to high-quality care and delivering improved clinical outcomes under the ownership of Pure Health,” said Centene chief executive officer, Sarah London. “This transaction marks another milestone in our portfolio review and showcases continued momentum against our value creation plan.”
“We are delighted to welcome Circle Health Group into the PureHealth family. This acquisition marks an important milestone in our journey towards creating a global healthcare network which revolutionises patient care,” said managing director and group chief executive officer of PureHealth, Farhan Malik.
“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 organisations, we positively impact the lives of patients globally. PureHealth, as the region’s largest healthcare group, is well-positioned to make significant contributions to the improvement of healthcare systems and access to world-class medical services in the UAE and beyond.”
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Centene invested in Circle Health in 2019 and acquired the remaining equity interests in July 2021. The transaction is subject to regulatory approval and is expected to close in Q1 2024.
PureHealth is the largest integrated healthcare network in the Middle East with a portfolio of over 25 hospitals and more than 100 clinics.