
The Centene Corporation headquarters, left, is seen Friday, Feb. 24, 2023, in downtown Clayton.
CLAYTON — Centene Corp. said Monday it will sell British hospital operator Circle Health Group to United Arab Emirates-based PureHealth for about $1.2 billion including debt, as the Clayton-based health insurer refocuses on its core business.
The acquisition will help PureHealth, the UAE’s largest health care provider, enter the United Kingdom in a deal that it said has the potential to deliver wide-ranging benefits to the health care systems of both countries.
Founded in 2004, Circle Health is one of the UK’s largest network of private hospitals with 54 establishments across the country.
Centene is undergoing a review of its portfolio and expects the deal to close in the first quarter of next year.
Centene first invested in UK-based Circle Health in 2019 and acquired its remaining equity in 2021.
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PureHealth is majority-owned by Abu Dhabi investment fund ADQ, with International Holding Co. also holding a stake.
Both ADQ and IHC are chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the national security adviser and a brother of UAE ruler Sheikh Mohammed bin Zayed.
The firm recently completed a 1.8 billion dirham ($490.12 million) purchase of an equity investment in Ardent Health Services, which is a U.S.-based private health care group.Â