Centene To Sell Its British Unit To UAE's PureHealth For Around $1.2 Bln

(RTTNews) - Centene Corp. (CNC), a managed care company, said on Monday that it has signed a deal to sell its Circle Health Group to PureHealth, an integrated healthcare network in the Middle East, for around $1.2 billion including debt.

The transaction, expected to be closed in the first-quarter of 2024, serves as part of Centene's continued execution of its value creation efforts as it refocuses its portfolio on core lines of business.

Sarah London, CEO of Centene, said: "…This transaction marks another milestone in our portfolio review and showcases continued momentum against our value creation plan."

Circle Health runs 53 hospitals across Britain, providing a wide range of surgery and treatments to privately insured, self-pay, and NHS patients.

Circle Health, with over 6, 000 consultant specialists, sees two million patients annually.

Centene had invested in Circle Health in 2019 and acquired the remaining stake in the company in July 2021.