Urgot can heal from damage?

according to my calculations Urgot can heal from damage

passive=15% damage dealt reduction

phantom dancer= 12% damage dealt reduction

exhaust= 40% damage dealt reduction

ult= 40% damage received reduction

67% damage dealt is gone

40% damage received is gone

107% is gone so would you be healed for 7% of the damage?

this won't even include armor or mr