PureHealth, an Abu Dhabi-based health conglomerate, has announced the appointment of Shaista Asif as its new Group CEO, succeeding Farhan Malik, who now assumes the role of Managing Director. This strategic leadership change comes on the eve of PureHealth’s anticipated debut on the Abu Dhabi Securities Exchange (ADX), following an impressive and record-breaking Initial Public Offering (IPO).
Shaista Asif, a co-founder of PureHealth since its inception in 2006 alongside founder Farhaan Malik, is set to elevate from her current position as Group Chief Operating Officer, a role she has held since 2010.
During her distinguished tenure at PureHealth, Asif has been instrumental in overseeing multiple successful acquisitions that have contributed to the conglomerate’s growth and expansion. These include strategic moves such as integrating Abu Dhabi Health Services Co (SEHA), The National Rehabilitation Center (NRC), The National Health Insurance Co. (Daman), acquiring a stake in Ardent Healthcare, and orchestrating the landmark acquisition of Circle Health Group. The latter marked a pioneering healthcare acquisition by a UAE-based group in the UK, valued at more than Dh4.4 billion (US$ 1.2 billion).
Shaista Asif’s leadership as Group COO has been characterized by a forward-looking approach, aligning PureHealth with a commitment to a sustainable future. Under her guidance, PureHealth became part of the United Nations-backed Race to Zero initiative for Climate Change, demonstrating a dedication to environmental responsibility. The conglomerate, under Asif’s direction, has also pledged to achieve Net Zero emissions by the year 2040.
In a strategic move last year, ADQ, an Abu Dhabi-based investment holding company, entered into a deal to merge its healthcare subsidiaries with Pure Health. This merger positioned the conglomerate as the largest healthcare provider in the Emirates, creating a powerhouse in the healthcare sector.
Pure Health currently boasts an extensive portfolio encompassing more than 25 hospitals, 100 clinics, diagnostic centers, health insurance solutions, pharmacies, health technology platforms, and procurement solutions.
The eagerly anticipated IPO of PureHealth, representing 10% of its capital, stands as the UAE’s second-largest after ADNOC. The IPO garnered a staggering Dh265 billion, contributing significantly to the dynamism of the UAE stock market. Trading for PureHealth on ADX is scheduled to commence on December 20, with an impressive market capitalization estimated at around Dh36.2 billion.
The appointment of Shaista Asif as Group CEO and the strategic realignment underscore PureHealth’s commitment to sustained growth, innovative healthcare solutions, and its pivotal role in shaping the healthcare landscape in the Emirates and beyond.