PureHealth posts AED 1.4 billion net profit in 9 months
Oct 31, 2024
Abu Dhabi [UAE], October 31 (ANI/WAM): PureHealth Holding today announced its financial results for the nine-month period ending 30th September 2024. PureHealth recorded a 56 per cent year-on-year increase in revenue to AED 19 billion, while EBITDA grew by 26 per cent year-on-year to AED 3.1 billion, achieving a 16.5 per cent margin. Net profit increased by 13 per cent year-on-year, reaching AED 1.4 billion.
Hamad Al Hammadi, Chairman of PureHealth, said, "As we progress along our defined growth trajectory, we remain dedicated to advancing the science of longevity in the pursuit of improving quality of life. The strategic acquisitions made this year have significantly strengthened PureHealth's global position as an integrated healthcare platform, granting access to a premium cross-sector ecosystem. Our performance metrics underscore our commitment to driving innovation, achieving operational excellence and prioritising a patient-centric, proactive approach to care for the people of the UAE and beyond."
Revenue growth for the nine-month period was primarily driven by increased patient demand within the Group's hospitals segment, which remains the largest contributor to overall revenue, reaching AED 14.6 billion.
The hospitals segment reported an impressive 87 per cent year-on-year revenue increase, largely attributed to strategic acquisitions completed earlier this year.
Key additions include Sheikh Shakhbout Medical City (SSMC), the UAE's largest healthcare complex, and Circle Health Group, the UK's largest private hospital group. The integration of the National Rehabilitation Centre (NRC), the UAE's largest addiction rehabilitation facility, and Sheikh Khalifa Hospital Fujairah, the leading tertiary care hospital in Fujairah, further strengthened the segment's performance, enhanced service delivery, and expanded the Group's operational footprint.
Shaista Asif, Group Chief Executive Officer at PureHealth, said, "PureHealth's strong financial performance for the period underscores the success of our strategic focus on growth through targeted acquisitions and operational excellence. The significant revenue and profit increases reflect our expanding healthcare network, particularly in the hospital segment, where key assets such as Sheikh Shakhbout Medical City (SSMC) and Circle Health Group have played a pivotal role."
Patient interactions across our UAE and UK assets increased by 66 per cent. Overall Outpatient, Inpatient and Emergency volumes increased by 70 per cent, 105 per cent and 34 per cent respectively.
Alongside the phenomenal volume growth, the Group's bed capacity has expanded by 82 per cent, bringing the total to approximately 4,800 beds.
The Insurance segment's revenue grew 17 per cent year-on-year to AED 5.1 billion in the first nine months 2024, driven by a 21 per cent year-on-year increase in the Gross Written Premiums to AED 5.5 billion.
The growth was underpinned by an improved value proposition, which enabled the retention of key accounts, along with a 4 per cent year-on-year increase in the segment's total number of active members to 3.1 million during the period. (ANI/WAM)
