PureHealth focused on acquisitions to drive its growth in 2024
1 Apr 2025 19:18
A. SREENIVASA REDDY (ABU DHABI)Pure Health Holding, the Middle East's largest healthcare group, has placed acquisitions at the forefront of its growth strategy in 2024, according to its Integrated Report submitted to the Abu Dhabi Securities Exchange (ADX).PureHealth uniquely integrates all aspects of the healthcare value chain, including hospitals, primary care centers, pharmacies, group purchasing organisations, diagnostics, research, health tech and insurance. This integration allows PureHealth to enhance patient outcomes, and create synergies across its diverse entities.PureHealth has demonstrated strong financial performance in 2024, with consolidated revenue increasing by 58% year-on-year (YoY) to Dh25.8 billion, according to the report. The company's EBITDA grew by 69% to Dh4.1 billion, and net profit increased by 78% to Dh1.7 billion. This growth is attributed to strong performance across its core segments, including hospitals, insurance, diagnostics, and procurement, and also from key acquisitions, the report said. In 2024, PureHealth's growth strategy has been significantly fuelled by key acquisitions, including the acquisition of Circle Health, the UK's largest independent hospital operator, for £1.2 billion, which has expanded Pure Health's international footprint and provided access to the UK healthcare market, and the acquisition of Sheikh Shakhbout Medical City (SSMC) in Abu Dhabi for Dh600 million, which is the region's largest healthcare complex, providing advanced tertiary care. Circle Health contributed Dh6 billion to the top line, demonstrating a 7% YoY revenue growth, while SSMC added Dh2 billion to revenue, reinforcing domestic operations and enhancing specialised tertiary care services.PureHealth boasts more than 100 clinics, over 300 hospitals, and a workforce exceeding 56,000 employees.Founder and Managing Director, Farhan Malik, stated: 'Our strong financial performance underscores the effectiveness of our strategy. The acquisition of Circle Health Group has strengthened our international reach, enabling us to leverage best practices and bring world-class healthcare closer to those who need it. Simultaneously, our expansion within the UAE, acquiring the largest healthcare complex in the region, which focuses on specialty care, reaffirms our commitment to elevating healthcare standards at home while positioning the UAE as a global hub for medical excellence'.Group Chief Executive Officer Shaista Asif noted: 'PureHealth's 2024 journey was marked by strategic expansion, innovative patient-centred care, and robust financial growth, solidifying our position as a global healthcare leader whilst enhancing value for all stakeholders.'Manzoor Ahmad, Group Chief Financial Officer (CFO), said: 'Despite significant investments and acquisitions, PureHealth has maintained a strong financial position. The Company's net leverage, including leases, stands at 0.9 times EBITDA, well below the upper limit of 3.0x required to maintain an investment-grade credit profile. This prudent approach to financial management ensures flexibility to pursue further growth opportunities while maintaining financial stability.'PureHealth's share price and market capitalisation demonstrated robust performance throughout 2024, building on the momentum from its successful IPO. The Company's market value continued to grow as investors recognised its strong financial results and strategic expansion, the CFO added. PureHealth is committed to fostering a diverse, equitable, and inclusive workplace. The company has over 56,000 employees, representing more than 100 nationalities, with women comprising 60% of the workforce. In the UAE, 21% of the workforce are UAE Nationals, and 16% are females. The company's focus remains on sustaining digital transformation, enhancing talent development, deepening culture transformation, and strategic workforce planning.PureHealth is committed to maintaining high standards of transparency, communication, and corporate governance. The company has established an Investor Relations Department to ensure timely and accurate communication with the market, stakeholders, and investors, in full compliance with applicable capital market regulations.The main shareholders of PureHealth include Q Health LLC, which holds the largest stake at 40.51%, followed by Alpha Dhabi Health Holding LLC with 24.93%. IHC Healthcare LLC and AH Capital (FZE) are also key players. Collectively, these top four shareholders control a substantial 77.65% of Pure Health. Shareholder base is primarily institutional, with companies holding a significant 97.29% of the shares, while individual shareholders constitute a small 2.71%. Pure Health Holding has been listed on the Abu Dhabi Securities Exchange (ADX) since 2023.
The integrated report also dealt with various sustainability initiatives of the healthcare group. It said PureHealth's 2024 Sustainability Report, which will be launched in H1 2025, will communicate full and detailed sustainability performance.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
2 days ago
- Al Etihad
UAE stock markets consolidate ahead of 4-day Eid-break
4 June 2025 22:07 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets consolidated gains on Wednesday ahead of the upcoming four-day Eid Al Adha Abu Dhabi Securities Exchange (ADX) recorded its second consecutive session of gains, with its general index (FADGI) rising by 0.449% to close at 9,734.99. A total of 25,971 trades were executed, involving 373 million shares with a combined value of Dh1.443 total market capitalisation of all companies listed on the ADX stood at Dh3.003 trillion, a milestone it had crossed earlier this week for the second Dhabi Islamic Bank led the rally with a 2.43% gain, followed by First Abu Dhabi Bank with a 2.13% rise and ADNOC Gas with a 0.92% top gainers on the ADX included E7W Warrants (+14.92%), Fujairah Cement (+14.88%), and Abu Dhabi Ship Building (+13.47%). Notable decliners were National Bank of Fujairah (-9.52%), Eshraq Investments (-4.42%), and Finance House (-4.35%).Shares of Abu Dhabi Ship Building surged after it secured a Dh7 billion contract from its shareholder EDGE Group for the supply of missile boats to the Kuwait Naval Forces. DFMThe Dubai Financial Market's general index (DFMGI) rose by 0.255% to close at 5,535.93 points. The index has posted annual gains every year since 2021, climbing 27% last year and up 7% so far in 2025. A total of 18,583 trades were executed on the DFM, involving 389 million shares with a combined value of Dh930 million. Share prices of 20 companies rose, 24 declined, and 10 remained the top gainers were Amlak Finance (+14.58%), Dubai Refreshment (+13.07%), and Dubai Financial Market (+5.96). On the losing side, Al Mazaya Holding fell by 7.14%, followed by National Cement (-2.70%), Emaar Development (-2.62%), and Tabreed (-2.53%). Amlak Finance drove the day's performance on the DFM, emerging as the most actively traded stock in terms of both value and volume. Source: Aletihad - Abu Dhabi
Al Etihad
2 days ago
- Al Etihad
NMDC LTS concludes acquisition of 70% equity stake in Emdad
4 June 2025 20:03 ABU DHABI (ALETIHAD)The NMDC Group has announced that its wholly owned subsidiary, NMDC LTS, has completed the acquisition of a 70% stake — comprising both share capital and voting rights — in Emdad, an integrated service provider operating across the oil and gas, utilities, and industrial sectors. The transaction was financed through a combination of debt and strategic acquisition allows NMDC Group to expand into the operational expenditure (OPEX) segment of oilfield services, enabling the company to diversify its portfolio further and strengthen its competitive position. Emdad brings a broad suite of services including well intervention, waste management, shutdown and turnaround services, coiled tubing, and valve solutions. In 2024, Emdad reported revenues exceeding Dh600 million, with total equity standing at Dh217 Yasser Zaghloul, CEO of NMDC Group, said: 'We are pleased to complete this landmark acquisition, which signals the beginning of an exciting new chapter for both organisations. Emdad is a distinguished industry leader with strong capabilities and deep sector knowledge. By combining Emdad's strengths with NMDC's scale and focus on innovation, we are creating a powerful platform for long-term value creation. This integration aligns with our diversification strategy and enhances our ability to deliver broader service offerings, create meaningful value, and drive sustainable growth for our clients, partners, and stakeholders across the region's dynamic energy landscape.'Mohammed Juma Al Bawardi, CEO of Emdad, added: 'This milestone transaction underscores both the maturity and appeal of the UAE's energy sector, as well as the trust NMDC places in Emdad's market position. As we join forces through this compelling partnership and integrate with the broader NMDC platform, we are confident of embarking on a new phase of growth. Together, we will unlock deeper value for our customers and work towards our shared vision for sustainable success.' This transaction marks a further step in NMDC's strategy to create long-term value, strengthen its regional presence, and drive revenue growth. It reflects NMDC Group's broader ambitions for expansion and diversification, paving the way for future innovation and industry leadership in the energy sector. Source: Aletihad - Abu Dhabi
Al Etihad
3 days ago
- Al Etihad
UAE's non-oil economy firmly in expansion mode as May PMI stands at 53.3
4 June 2025 09:32 REDDY (ABU DHABI)The UAE's non-oil private sector remained in solid expansion mode in May, with the seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) registering 53.3, slightly lower than 54.0 in April but well above the neutral 50.0 mark that separates growth from is a key economic indicator measuring business activity in the manufacturing and services sectors. A reading above 50 signals expansion, while below 50 indicates contraction.'Data continued to signal a solid improvement in the performance of the non-oil private sector economy. Demand conditions remained strong, supporting a marked increase in output, although the rate of growth trended down from its recent bullish run,' the S&P Global report reported a continued rise in new orders in May. While the pace of growth eased from the previous month, it remained robust. This upturn was attributed to favourable demand conditions, strong client relationships, new marketing strategies, and diverse product offerings.'From an overall perspective, the survey signals that the UAE economy is performing well. The survey data backs up the trend of falling inflationary pressures, as businesses saw input costs rise at their slowest rate since the end of 2023,' said David Owen, Senior Economist at S&P Global Market report said that companies increased their output and the expansion was sharp. According to survey members, higher sales often translated into greater activity, although some reported that global economic uncertainty linked to US tariffs had negatively affected levels dropped in May, as businesses scaled back purchasing due to strong stock levels and supply constraints. Employment growth, meanwhile, hit its highest level in a year, with firms citing increased workloads and rising backlogs of cost inflation eased to its slowest pace in nearly 18 months. While some firms saw higher raw material and transport costs, only 5% of respondents reported an increase from prices rose marginally, reflecting modest efforts to pass on cost increases, partially offset by discounts. Dubai PMI Dubai's PMI stood at 52.9 in May, reflecting a solid improvement in operating conditions in the non-oil private sector.'Businesses continued to receive higher levels of new orders, with the rate of growth ticking up to a four-month high,' the report said, attributing the trend to improved client confidence, marketing strategies, and competitive pricing. While overall business activity rose sharply, the pace of growth softened. Purchase stocks declined for the first time in 2025, contributing to the weakest rate of input cost inflation in 17 months.
