PureHealth Reports 53% Revenue Surge in H1 2024 with Major Growth in Hospitals, Insurance, and Procurement

Maryam Pervez -

PureHealth Holding announced robust financial results for the period ending 30th June 2024, showcasing a 53% year-over-year (y-o-y) revenue increase to AED 12.5 billion in H1 2024. This growth was primarily driven by significant gains in its Hospitals, Insurance, and Procurement segments.

In a press release on Wednesday, the company revealed that its EBITDA rose 15% y-o-y to AED 2.2 billion, achieving an EBITDA margin of 17.2%. Additionally, the Group's net profit reached AED 1.0 billion, reflecting an 8.0% net profit margin.

Group Chairman Hamad Al Hammadi expressed satisfaction with the performance, highlighting the group's commitment to transforming healthcare delivery in the UAE and beyond.

Key highlights include:

  • Hospitals Segment: Revenue grew 83% y-o-y to AED 9.6 billion, largely due to acquisitions of Sheikh Shakhbout Medical City (SSMC) and Circle Health Group.
  • Insurance Segment: Revenues increased by 15% y-o-y to AED 3.3 billion, driven by higher premiums and an increase in active members to 3.1 million.
  • Procurement and Supply: This segment saw a 36% y-o-y growth to AED 2.7 billion, boosted by new customers and strategic expansions in diagnostics, medical devices, pharmaceuticals, and diabetes divisions.

Group CEO Shaista Asif noted the company's ongoing success in executing its growth strategies, emphasizing the significant contributions of the newly acquired assets to their Hospitals segment and the broader international expansion.

This period marks a pivotal time for PureHealth as it continues to strengthen its service offerings and expand its footprint both locally and internationally.

News Source: Emirates News Agency