MENA Newswire News Desk: PureHealth Holding reported robust financial results for the first nine months of 2024, reflecting significant year-on-year growth across key performance metrics. The company achieved a net profit of AED1.4 billion, marking a 13% increase, with overall revenue soaring 56% to AED19 billion. EBITDA rose by 26%, reaching AED3.1 billion with a 16.5% margin for the period ending 30th September 2024.
Hamad Al Hammadi, Chairman of PureHealth, highlighted the company’s focus on expanding its global footprint, particularly through strategic acquisitions. “Our enhanced healthcare ecosystem, driven by our commitment to advancing longevity science, reflects our dedication to improving quality of life,” Al Hammadi said. “These acquisitions not only strengthen our operational capabilities but also reinforce our patient-centric approach across the UAE and beyond.”
PureHealth’s hospital segment proved to be the primary growth driver, posting a substantial 87% revenue increase year-on-year, totaling AED14.6 billion. This surge stems largely from acquisitions such as Sheikh Shakhbout Medical City (SSMC), the UAE’s largest healthcare complex, and Circle Health Group in the UK. The inclusion of other pivotal facilities, like the National Rehabilitation Centre (NRC) and Sheikh Khalifa Hospital Fujairah, further augmented the segment’s contribution, boosting PureHealth’s reach and operational scale.
The integration of these assets has led to a 66% increase in patient interactions across the UAE and UK, with Outpatient, Inpatient, and Emergency visits rising by 70%, 105%, and 34% respectively. PureHealth’s bed capacity has also expanded by 82%, reaching approximately 4,800 beds, ensuring enhanced patient access and comprehensive service coverage.
Shaista Asif, Group CEO, expressed confidence in the company’s growth strategy. “Our financial results showcase the strength of our acquisitions and operational effectiveness,” Asif noted. “Our expanded network, especially in the hospital segment with SSMC and Circle Health, has been instrumental in our growth trajectory, underscoring our strategic focus on increasing access to world-class healthcare services.”
PureHealth’s Insurance segment also performed strongly, with revenue rising 17% year-on-year to AED5.1 billion. This growth was driven by a 21% increase in Gross Written Premiums, amounting to AED5.5 billion. The segment maintained key accounts through an enhanced value proposition, leading to a 4% rise in active members, totaling 3.1 million by the period’s end.
Through these expansions and strategic advancements, PureHealth continues to solidify its role as a leader in the healthcare sector, enhancing service delivery and supporting the UAE’s vision of advancing healthcare standards.