PureHealth Reports Impressive Dh1.4 Billion Net Profit for Nine Months Ending September 2024
PureHealth's Strategic Acquisitions and Patient-Centric Approach Drive Exceptional Financial Performance Amid Growing Demand
Significant Revenue Growth Driven by Increased Patient Demand and Strategic Acquisitions in Healthcare Sector
PureHealth Holding has announced a remarkable financial performance for the nine-month period ending September 30, 2024, reporting a net profit of Dh1.4 billion, representing a 13% year-on-year increase. The company’s revenue surged by 56% to Dh19 billion, primarily fueled by heightened patient demand across its hospitals segment.
Robust Growth in the Hospitals Segment
The hospitals segment emerged as the largest contributor to overall revenue, generating Dh14.6 billion. This segment experienced an impressive 87% year-on-year revenue increase, largely attributed to strategic acquisitions completed earlier this year. Notable additions to PureHealth’s portfolio 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 foremost addiction rehabilitation facility, and Sheikh Khalifa Hospital Fujairah, a leading tertiary care hospital, further enhanced service delivery and expanded the Group’s operational footprint.
Leadership Insights on Growth and Strategy
Hamad Al Hammadi, chairman of PureHealth, emphasized the Group’s commitment to advancing longevity science and improving the 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,” he stated. “Our performance metrics underscore our commitment to driving innovation, achieving operational excellence, and prioritizing a patient-centric, proactive approach to care for the people of the UAE and beyond.”
Shaista Asif, group chief executive officer at PureHealth, highlighted the success of the company’s strategic focus on growth through targeted acquisitions. “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,” she said.
Patient Volume and Insurance Segment Performance
PureHealth’s patient interactions across its UAE and UK assets increased by an impressive 66%. Overall outpatient, inpatient, and emergency volumes surged by 70%, 105%, and 34%, respectively. Alongside this phenomenal growth in patient volume, the Group’s bed capacity expanded by 82%, totaling approximately 4,800 beds.
In addition, the insurance segment recorded a revenue growth of 17% year-on-year, reaching Dh5.1 billion in the first nine months of 2024. This growth was driven by a 21% year-on-year increase in gross written premiums, totaling Dh5.5 billion. The enhanced value proposition allowed the retention of key accounts, alongside a 4% increase in the segment’s total number of active members, which reached 3.1 million during the period.
PureHealth’s robust performance underscores its position as a leader in the healthcare sector, demonstrating a proactive approach to meeting increasing patient demands while continuing to expand its services and capabilities across the region.
