PureHealth Holding Reports Strong Financial Growth
Abu Dhabi, UAE – PureHealth Holding has announced impressive financial results for the first nine months of 2024. The company saw a 56% increase in revenue, reaching AED 19 billion, and a 26% rise in EBITDA to AED 3.1 billion. Net profit grew by 13% to AED 1.4 billion.
Key Drivers of Growth
The growth was largely driven by increased patient demand in the hospitals segment, which contributed AED 14.6 billion to the revenue. This segment saw an 87% increase due to strategic acquisitions, including Sheikh Shakhbout Medical City and Circle Health Group.
Strategic Acquisitions
PureHealth’s acquisitions, such as the National Rehabilitation Centre and Sheikh Khalifa Hospital Fujairah, have expanded its operational footprint and service delivery. The company’s bed capacity increased by 82%, totaling approximately 4,800 beds.
Insurance Segment Performance
The insurance segment also performed well, with a 17% revenue increase to AED 5.1 billion, supported by a 21% rise in Gross Written Premiums.
Leadership Insights
Hamad Al Hammadi, Chairman, emphasized the company’s commitment to innovation and patient care. CEO Shaista Asif highlighted the success of strategic acquisitions in driving growth.
Doubts Revealed
PureHealth Holding -: PureHealth Holding is a company that provides healthcare services. They run hospitals and clinics to help people get better when they are sick.
AED -: AED stands for Arab Emirates Dirham, which is the money used in the United Arab Emirates. It’s like how we use Rupees in India.
Strategic Growth -: Strategic Growth means the company is growing in a planned way. They are making smart decisions to become bigger and better.
Sheikh Shakhbout Medical City -: Sheikh Shakhbout Medical City is a big hospital in the United Arab Emirates. It’s a place where doctors and nurses help people who are sick.
Circle Health Group -: Circle Health Group is a group of hospitals and healthcare services. They work together to provide medical care to people.
Bed capacity -: Bed capacity refers to the number of beds available in hospitals for patients. More beds mean they can help more people at the same time.
Insurance segment -: The insurance segment is a part of the company that deals with health insurance. Health insurance helps people pay for medical care when they are sick.