Latest news with #Dh25.8
Khaleej Times
10-04-2025
- Business
- Khaleej Times
PureHealth announces Dh343 million dividend in strong first year post-listing
PureHealth Holding, the largest healthcare group in the Middle East, has announced, following its Annual General Assembly (AGM), shareholder approval for its first-ever dividend distribution since listing on the Abu Dhabi Securities Exchange (ADX) in December 2023. The final dividend as recommended by PureHealth's board of directors amounts to a total of Dh343 million (Dh3.09 fils per share) for the 2024 financial year, representing 20 per cent of the group's net profit. This follows the completion of PureHealth's first full financial year as a publicly listed company. "The approved dividend highlights the strength of PureHealth's balance sheet, its ability to generate returns for shareholders, and its capacity to grow the business while maintaining a robust capital position," a company statement said. Shaista Asif, PureHealth group chief executive officer, commented: 'This dividend demonstrates the Group's ability to generate strong returns and create value for shareholders whilst retaining its ability to execute on its ambitious growth plans including global expansion opportunities.' PureHealth concluded the 2024 financial year with exceptionally strong financial performance, underscored by revenues of Dh25.8 billion, earnings before interest, taxes, depreciation and amortisation (Ebitda) of Dh4.1 billion, and a net profit of Dh1.7 billion. Bolstered by a substantial cash position of Dh11.9 billion and maintaining an impressively low leverage ratio of approximately 0.1x, the group's balance sheet provides ample strategic flexibility. Operating within a resilient sector, PureHealth's robust financial footing positions it comfortably to pursue its ambitious growth and acquisition agenda, further solidifying its status as a prominent healthcare group in the region and beyond. As part of its continued growth, PureHealth recently acquired a 60 per cent stake in Hellenic Healthcare Group from the global private equity firm CVC, which will remain as a minority partner alongside PureHealth within the acquired entity. The Group remains focused on expanding its presence and capabilities to drive excellence across its global operations. The approved dividend marks a key milestone in PureHealth's journey as a publicly listed entity, reflecting its strong financial standing and commitment to delivering shareholder value. Following shareholder approval at the AGM, the last day for shareholders to be eligible for the dividend is April 17, 2025, with distribution on May 8, 2025.
Al Etihad
01-04-2025
- Business
- Al Etihad
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 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 boasts more than 100 clinics, over 300 hospitals, and a workforce exceeding 56,000 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 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 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.
Khaleej Times
18-03-2025
- Business
- Khaleej Times
PureHealth proposes Dh343 million dividend following strong first year post-listing
PureHealth Holding, the largest healthcare group in the Middle East, has announced a proposal for its first-ever dividend distribution since listing on the Abu Dhabi Securities Exchange (ADX) in December 2023. The Board of Directors has recommended a total dividend of Dh343 million (Dh3.09 fils per share) for the 2024 financial year, representing 20 per cent of the Group's net profit. The proposal is set for shareholder approval at the Annual General Meeting (AGM) on April 9. This follows the completion of PureHealth's first full financial year as a publicly listed company. 'The proposed dividend highlights the strength of PureHealth's balance sheet, its ability to generate returns for shareholders, and its capacity to grow the business while maintaining a robust capital position. The remainder of the Group's profits will be retained, providing financial flexibility to support future growth plans and potential global expansion opportunities,' a statement said. PureHealth concluded the 2024 financial year with exceptionally strong financial performance, underscored by revenues of Dh25.8 billion, Ebitda of Dh4.1 billion, and a net profit of Dh1.7 billion. Bolstered by a substantial cash position of Dh11.9 billion and maintaining an impressively low leverage ratio of approximately 0.1x, the Group's balance sheet provides ample strategic flexibility. Operating within a resilient sector, PureHealth's robust financial footing positions it comfortably to pursue its ambitious growth and acquisition agenda, further solidifying its status as a prominent healthcare group in the region and beyond. As part of its continued growth, PureHealth recently acquired a 60 per cent stake in Hellenic Healthcare Group from the global private equity firm CVC, which will remain as a minority partner alongside PureHealth within the acquired entity. The Group remains focused on expanding its presence and capabilities to drive excellence across its global operations. The proposed dividend marks a key milestone in PureHealth's journey as a publicly listed entity, reflecting its strong financial standing and commitment to delivering shareholder value. Pending approval at the AGM, the dividend distribution will demonstrate the Group's ability to generate returns and create value for shareholders.
Al Etihad
18-03-2025
- Business
- Al Etihad
PureHealth proposes Dh343 million dividend following strong first year post-listing
18 Mar 2025 12:41 ABU DHABI (ALETIHAD)PureHealth Holding has announced a proposal for its first-ever dividend distribution since listing on the Abu Dhabi Securities Exchange (ADX) in December Board of Directors has recommended a total dividend of Dh343 million (Dh3.09 fils per share) for the 2024 financial year, representing 20% of the Group's net proposal is set for shareholder approval at the Annual General Meeting (AGM) on April 9, follows the completion of PureHealth's first full financial year as a publicly listed company, reflecting the Group's strong performance and financial resilience. PureHealth concluded the 2024 financial year with exceptionally strong financial performance, underscored by revenues of Dh25.8 billion, EBITDA of Dh4.1 billion, and a net profit of Dh1.7 billion.
