PureHealth reports record revenue of AED 25.8bln and 78% net profit growth to AED 1.7bln

Zawya

11-02-2025

EBITDA grew 69% year-on-year to AED 4.1 billion, driven by strong top-line growth, improved operational efficiencies, and the successful integration of newly acquired assets.
Net profit increased 78% year-on-year to AED 1.7 billion.
Abu Dhabi – PureHealth Holding PJSC ('PureHealth' or 'the Group') (ADX Symbol: PUREHEALTH), the largest healthcare group in the Middle East, today announced its financial results for the period ended 31 December 2024. The Group recorded a strong revenue increase of 58% year-on-year to AED 25.8 billion in FY-2024, driven by robust growth across its core segments, including Hospitals, Insurance and Procurement; and was further strengthened by the successful integration of strategic acquisitions. The Group's strong performance reflected positively on profitability, with EBITDA growing 69% year-on-year to AED 4.1 billion and net profit increasing by 78% year-on-year to AED 1.7 billion in FY-2024.
Hamad Al Hammadi, Chairman of PureHealth, commented: "PureHealth's exceptional performance in 2024 is a testament to our strategic vision, commitment to innovation, and the trust our partners and stakeholders place in our healthcare ecosystem. This year, we significantly expanded our global presence with key acquisitions, strengthened our operational capabilities, and advanced our mission to redefine healthcare excellence. As we move forward, we remain focused on our global expansion and value creation for our shareholders."
Shaista Asif, Group Chief Executive Officer at PureHealth, said: '2024 has been a transformative year for PureHealth, marked by strategic expansion, operational excellence, and innovation – where we pushed boundaries and redefined healthcare possibilities. With the acquisition of Circle Health Group in the UK, we extended our world-class care beyond borders, while the integration of Sheikh Shakhbout Medical City (SSMC) reinforced our expertise in complex, life-saving treatments. Every decision we make is about impact on patients, communities, and the future of medicine. As we enter 2025, we remain focused on expanding specialised services, leveraging AI to enhance operational efficiency and advance predictive and personalised care, while accelerating international growth. With a disciplined investment approach, we are committed to transforming the assets we manage, ensuring they create lasting value and impact for all stakeholders, while delivering healthcare excellence globally.'
Financial & Operational Highlights
PureHealth's solid performance was driven primarily by the Group's hospitals segment, which saw an 87% year-on-year increase in revenue to AED 19.7 billion on the back of strong patient volume growth and the expansion of the Group's medical services across its network in FY-2024. A combination of initiatives, along with the Group's strategic acquisitions, have resulted in an expansion of PureHealth's global footprint as well as enhanced operational capabilities, and drove a patient interaction increase across the Group's UAE and UK assets of 66% to 9.9 million in FY-2024. Additionally, bed capacity increased to approximately 4,900 beds, nearly doubling year-on-year, meanwhile, outpatient, inpatient, and emergency volumes grew by 72%, 24% and 31%, respectively, in FY-2024, across its UAE and UK assets.
On the organic growth front, PureHealth significantly expanded its clinical capabilities and improved patient access in 2024 by implementing strategic initiatives covering service line expansion, infrastructure development, specialist diversification, and extended accessibility.
Other segments of the business experienced strong growth in FY-2024. The Insurance Segment saw a 17% year-on-year revenue increase to almost AED 6.9 billion, driven by a 6% rise in active members to more than 3 million and a 24% surge in gross written premiums. The Procurement Segment recorded a 27% increase in revenue, reaching AED 5.2 billion, fuelled by an expanding client base, strategic growth in diagnostics and medical devices, and an expansion of the pharmaceutical and diabetes divisions. The Diagnostic Services Segment reported a revenue increase of c.1% reaching AED 1.1 billion, with the uptick driven by an increase in patient footfall, the expansion of laboratory services, and a stronger adoption of preventative health screenings. Meanwhile, the newly established Technology Segment, dedicated to driving digital transformation and enhancing AI and IT capabilities across the Group, contributed AED 469 million in its first year.
Key Strategic Updates
In 2024, PureHealth achieved several key strategic milestones that reinforced its market leadership and laid the groundwork for long-term, sustainable growth. The acquisition of Circle Health Group, the UK's largest private hospital network, significantly expanded PureHealth's global presence, adding over 50 hospitals and 9,000 employees to its portfolio. The integration of Sheikh Shakhbout Medical City (SSMC), the UAE's largest tertiary care hospital, strengthened specialised and complex care services, enhancing capacity to serve more patients. In line with its portfolio optimisation strategy, PureHealth divested YAS Clinics and the Abu Dhabi Stem Cells Centre (ADSCC) in Q2-2024, streamlining operations and sharpening its focus on high-growth, specialised healthcare services. Additionally, Ardent Health Services, a leading US-based healthcare provider in which PureHealth made a strategic minority investment in 2023, successfully listed on the New York Stock Exchange in 2024, further reinforcing PureHealth's global investment strategy.
Sustainability
As part of its long-term vision for responsible healthcare, PureHealth expanded its sustainability initiatives in 2024, integrating environmental, social, and governance (ESG) principles across its operations. The Group released its first Sustainability Report, aligned with global reporting frameworks such as GRI, TCFD, SASB, and UNGP, reinforcing its commitment to transparency and accountability.
PureHealth strengthened its ESG profile with improved sustainability ratings, reflecting progress in governance and environmental impact management. Furthermore, PureHealth is the only healthcare entity in the MENA region that has committed to Net Zero by 2040 as aligned with SBTi and joined the UN's Race to Zero Initiative. This ensures that sustainability remains at the core of PureHealth's growth and investment decisions.
Post-Period Developments
Following the close of FY-2024, PureHealth continued its expansion strategy with key developments that further strengthen its global presence and healthcare offerings.
In January 2025, Ardent Health Services, a company in which PureHealth holds a minority stake, acquired 18 urgent care clinics from NextCare. This acquisition enhances Ardent Health Services' outpatient capabilities, expanding its ability to provide accessible, high-quality urgent care solutions across its network in the United States.
Additionally, on 27 January 2025, PureHealth announced its agreement to acquire a 60% stake in Hellenic Healthcare Group (HHG), the largest private healthcare provider in Greece and Cyprus, with an enterprise value of EUR 2.2 billion. HHG operates 10 hospitals and 16 diagnostic centres, serving approximately 1.4 million patients annually.
Outlook
PureHealth's strategy focuses on building a scalable equity platform that delivers complex healthcare services captures a greater share of the market, and achieves robust profitability. At the same time, the Group is evolving into a future-ready organisation by harnessing digital technologies that will shape the next generation of healthcare.
To accelerate its global footprint, PureHealth is actively pursuing additional acquisitions, following its recent investments in key international markets. The Group is also intensifying its commitment to technology and AI-driven solutions—ranging from predictive analytics for early disease detection to AI-powered personalised treatment plans, operational efficiencies and digital patient engagement tools. These initiatives reinforce PureHealth's position as a global leader in integrated, technology-driven healthcare.