PureHealth profit climbs 20% as international acquisitions drive revenue growth

PureHealth Holding on Friday, 31 July reported a 20 per cent increase in net profit for the first half of 2024, driven by a higher volume of patients and the integration of international acquisitions. The Abu Dhabi-based healthcare group recorded a net profit of Dh1.1 billion, up from Dh913 million during the same period last year. \n\n Revenue for the six-month period climbed 55 per cent to Dh12.5 billion. The financial results include the first full-period contributions from Sheikh Shakbout Medical City (SSMC) in Abu Dhabi and Circle Health Group in the United Kingdom, both of which PureHealth acquired to expand its clinical footprint. \n\n Revenue growth through acquisitions \n The group’s hospital division witnessed a 79 per cent surge in revenue, reaching Dh8.1 billion. This was supported by a 17 per cent increase in total outpatient visits, which rose to 2.8 million across its network. Bed occupancy rates also improved to 71 per cent, up from 59 per cent in the first half of 2023. \n PureHealth’s expansion into the UK market via Circle Health Group contributed Dh2.7 billion to the total revenue. Total assets for the group grew to Dh46.2 billion as of June 30, representing a 61 per cent year-on-year increase. The company maintained a cash balance of Dh7.6 billion to support further expansion. \n\n Future outlook and market impact \n PureHealth is now the largest integrated healthcare network in the Middle East, managing over 50 hospitals and 300 clinics. The timely…