PureHealth Holding reports 53% jump in first-half revenues

ABU DHABI: PureHealth Holding revenues for first half increased by 53 per cent year on year to AED12.5 billion on the back of solid growth booked across the majority of its verticals, primarily from the hospitals, insurance and procurement segments.

The Group’s net profit for first half stood at AED1.0 billion, reflecting an eight per cent net profit margin.

The Group’s EBITDA grew 15 per cent year on year to AED2.2 billion and yielded an EBITDA margin of 17.2 per cent during the period.

“PureHealth remains committed to its vision of transforming healthcare delivery in the UAE and beyond. I am pleased to report that the Group has closed out the first half of 2024 with strong performance, which reflects the continued trust our patients place in the quality and breadth of our services,” Hamad Al Hammadi, Group’s Chairman, said.

Revenue from Hospitals grew 83 per cent year on year to AED9.6 billion, primarily driven by the contributions generated from the Group’s acquisitions of Sheikh Shakhbout Medical City (SSMC) and Circle Health Group during the period.

The insurance segment’s revenues grew 15 per cent year on year to AED3.3 billion due to an overall increase in premiums, specifically from the Enhanced Insurance portfolio, as well as from the rise in the segment’s total number of active members to 3.1 million compared to 2.9 million a year ago.

“The first half of the year has seen us continue to deliver on our growth strategies as we are actively pursuing expansion across both the local and international stages and have delivered on those fronts through the acquisition of Circle Health Group and SSMC,” Shaista Asif, Group Chief Executive Officer at PureHealth, said.