Abu Dhabi holding company ADQ is merging its health care subsidiaries with Alpha Dhabi’s Pure Health Medical Supplies as the two companies continue to streamline their portfolios.
The move will create the UAE’s largest healthcare provider.
As part of the deal, Abu Dhabi Health Services Company, better known as Seha, and the National Health Insurance Company, better known as Daman, will be consolidated into Pure Health, Alpha Dhabi said in a statement on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded.
“This unique ecosystem, with a keen focus on combining technology with health care, creates a scalable platform for international growth, driving recognition and value for the nation and our investors,” said Mohamed Al Rumaithi, chairman of Alpha Dhabi.
“Going forward, Pure Health will actively seek expansion opportunities globally to further diversify its portfolio and leverage its success in the UAE.”
Demand for healthcare services has grown amid the coronavirus pandemic and companies are planning to tap into this demand by ramping up their investments in businesses providing diagnostics, testing and other support services.
Tamouh Healthcare, Yas Clinic Group and the Abu Dhabi Stem Cell Centre will also become part of Pure Health as it seeks to expand, the two companies said on Wednesday.
ADQ will become the largest shareholder in Pure Health after the deal, which is subject to regulatory approvals. Apart from Alpha Dhabi, other shareholders include International Holding Company, AH Capital and Ataa Financial Investments.
Set up in 2018, ADQ has a portfolio of companies in strategic sectors of Abu Dhabi’s non-oil economy, including tourism and hospitality, aviation, transport, logistics, industrial, property, media, health care, financial services and agriculture and food.
ADQ’s portfolio of companies includes the Abu Dhabi Power Corporation, Abu Dhabi Airports, Abu Dhabi Ports, Etihad Rail, Seha, Daman, Abu Dhabi National Exhibitions Company and media companies Abu Dhabi Media and twofour54.
“Pure Health will be instrumental in transforming the provision of health care as we consolidate several companies into the platform,” said Mohamed Alsuwaidi, chief executive of ADQ.
“Combining the strength of clinical powerhouses and the UAE’s leading health insurer will develop a scalable healthcare platform for growth.”
Alpha Dhabi, which had a market value of Dh263.8 billion ($71.82bn) as of Wednesday and was previously known as Trojan Holding, has grown into a regional conglomerate with interests in construction, health care, hospitality and industry after completing a series of acquisitions in 2021.
Earlier this week, it acquired a 25.24 per cent stake in Al Qudra Holding and increased its stake in Abu Dhabi’s biggest listed developer Aldar Properties after it bought an additional 17 per cent in the company. The deal brings Alpha Dhabi's overall stake in Aldar to 29.8 per cent.
Last year, ADQ, merged its healthcare entities Rafed and Union71 with Pure Health to create a major healthcare support services provider.
Other major deals in the healthcare sector in 2021 include International Holding Company's agreement to buy a 40 per cent stake in Response Plus Medical Services, a unit of VPS Healthcare.
Abu Dhabi-based investment group Yas Holding also acquired a majority stake in Geltec Healthcare's Dubai-based business for an undisclosed sum.
Dubai-listed investment company Amanat Holdings acquired Cambridge Medical and Rehabilitation Centre for $232 million in one of the region's biggest healthcare deals in March.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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