PureHealth Achieves Impressive AED 25.8 Billion Revenue and Significant Profit Growth

PureHealth Reports Record Financial Results for FY-2024

In a significant announcement, PureHealth Holding PJSC, the largest healthcare provider in the Middle East, has reported remarkable financial results for the fiscal year ending December 31, 2024. The organization achieved a record revenue of AED 25.8 billion, demonstrating a substantial year-on-year increase of 58%. This impressive growth is attributed to both strong organic performance and a series of transformational acquisitions that have bolstered the Group's market presence.

Key Financial Highlights

The financial achievements of PureHealth are further underscored by an impressive EBITDA increase of 69% year on year, reaching AED 4.1 billion. This growth can be attributed to not only the increase in revenue but also improved operational efficiencies and successful integration of newly acquired assets. Importantly, the net profit surged by an astonishing 78%, amounting to AED 1.7 billion, showcasing the Group's effective strategies in navigating the complex healthcare landscape.

Hamad Al Hammadi, Chairman of PureHealth, expressed his satisfaction with the results, stating, "PureHealth's exceptional performance in 2024 reflects our strategic vision and commitment to innovation. We have significantly expanded our global footprint through key acquisitions and worked tirelessly to redefine healthcare excellence. Our focus will remain on creating value for our shareholders while enhancing our healthcare delivery systems."

Strategic Expansion and Acquisitions

Throughout 2024, the Group's growth was driven predominantly by its hospitals segment, where revenue skyrocketed by 87%, amounting to AED 19.7 billion. This surge resulted from a higher patient volume and an expansion of medical services across its network. The total number of patient interactions across the Group's assets in the UAE and UK reached an impressive 9.9 million, marking a 66% increase from the previous year.

In 2024, PureHealth made a significant acquisition, the Circle Health Group in the UK, which represents the country's largest private hospital network. This strategic move not only broadened PureHealth's portfolio but also added over 50 hospitals and 9,000 employees to its operations. Furthermore, integrating the Sheikh Shakhbout Medical City, the largest tertiary care hospital in the UAE, has enhanced the Group's capabilities in delivering complex and specialized healthcare services to a larger patient base.

Diversification Across Segments

PureHealth's diversification strategy yielded positive results across various segments of its operations. The insurance segment recorded a revenue increase of 17% to nearly AED 6.9 billion, supported by a 6% growth in active members exceeding 3 million. The procurement segment grew by 27%, achieving AED 5.2 billion in revenue due to strategic developments in diagnostics, medical devices, and the pharmaceutical sector.

Additionally, the newly established technology segment contributed AED 469 million in its first year, reflecting PureHealth's commitment to digital transformation in healthcare delivery.

Commitment to Sustainability

As part of its long-term vision, PureHealth has integrated sustainability into its operations, adhering to environmental, social, and governance (ESG) principles. In 2024, the Group released its first Sustainability Report, aligning with international reporting frameworks and emphasizing transparency. Notably, PureHealth is the only healthcare organization in the MENA region committed to achieving net-zero emissions by 2040, demonstrating its commitment to responsible healthcare practices.

Looking Forward

Heading into 2025, PureHealth expands its global reach, including the announcement of an agreement to acquire a 60% stake in the Hellenic Healthcare Group, the largest private healthcare provider in Greece and Cyprus. This move further solidifies PureHealth's strategy to explore international markets and enhance healthcare access and quality on a global scale.

In summary, PureHealth's financial achievements and strategic expansions position the Group as a formidable leader in the healthcare sector, dedicated to innovative practices and sustainable growth. With its eyes set on leveraging technology and AI-driven solutions, PureHealth is poised to shape the future of healthcare, delivering exceptional services locally and internationally.