PureHealth Holding PJSC, the leading integrated healthcare platform in the Middle East, has announced its financial results for the period ending December 31, 2023, showcasing robust growth driven by strategic expansions both locally and internationally.
The group’s successful initial public offering in December 2023 marked a milestone in its journey towards becoming a global healthcare leader.
PureHealth’s notable acquisitions
PureHealth’s expansion strategy included a series of value-enhancing acquisitions, notably welcoming SEHA, Daman, and TLC in the fourth quarter of 2022.
These acquisitions, spanning hospital operations, health insurance, and pharmacies, bolstered the group’s operational capacity and revenue generation capabilities.
The group’s venture into the US market in 2023 with a stake in Ardent Health Services further solidified its international presence.
The financial report for the fiscal year 2023 revealed impressive figures, with revenues reaching AED16.4 billion, marking a substantial 31 percent growth compared to the previous year.
The performance was attributed to the group’s “Hospitalisation” vertical and the full-year impact of acquisitions made in 2022 and 2023.
PureHealth reported an EBITDA of AED2.4 billion and a net profit of AED965 million for FY23, showcasing sound financial health and effective cost optimisation strategies.
Hamad Al Hammadi, Chairman of the Board of Directors of PureHealth said: “The group’s robust performance coupled with the series of successful acquisitions to date positions PureHealth among the world’s leading healthcare groups, benefitting people in an increasing number of countries while reliably leading the way in executing development objectives of our nation.
“Testament to this ongoing success is the tireless pursuit of our employees as we continue to build our portfolio across the UAE and internationally. As we continue to move forward, we remain committed to maintaining this momentum and driving further progress in the years ahead.”
Total assets grew by approximately 17 percent year-on-year to AED28.2 billion, bolstered by investments and IPO proceeds.
Despite accelerated expansion, PureHealth maintains a strong cash position and favorable debt ratios, underpinning its growth ambitions.
“Reflecting the successful integration of our acquisitions as we move forward, we remain guided by a three-pronged strategy to further drive global expansion through strategic acquisitions that broaden our reach, enhance healthcare delivery through innovation, and maximise societal impact through sustainable stewardship. With this bold vision and unwavering dedication of our employees, we are poised for continued success,” Shaista Asif, Group Chief Executive Officer of PureHealth added.
In January 2024, PureHealth completed the acquisition of Circle Health Group, a significant UK hospital operator, for $1.2 billion, expanding its reach into the UK’s private hospital network.
Follow us on
