Pure Health, the UAE’s largest healthcare group, swung to a net profit in the third quarter as revenue grew on the back of new acquisitions and expansion of its hospital network.
Net profit attributable to owners of the company for the three months to the end of September stood at Dh430.5 million ($117.2 million), compared with a loss of Dh76 million for the same period last year, the company said in a statement on Thursday to Abu Dhabi Securities Exchange, where its shares are traded.
Revenue for the period grew 62.65 per cent annually to Dh6.4 billion.
The company’s nine-month profit attributable to owners of the company rose 13 per cent year-on-year to Dh1.4 billion as revenue rose 56 per cent to Dh19 billion, driven by increased patient demand at its hospitals.
“Pure Health’s strong financial performance for the period underscores the success of our strategic focus on growth through targeted acquisitions,” Shaista Asif, group chief executive at Pure Health, said.
“The significant revenue and profit increases reflect our expanding healthcare network, particularly in the hospital segment, where key assets such as Sheikh Shakhbout Medical City and Circle Health Group have played a pivotal role.”
Earlier this year, Pure Health bought UK hospital operator Circle Health Group for Dh4.41 billion to expand its network globally.
It also acquired Sheikh Shakhbout Medical City, the UAE’s largest healthcare complex in Abu Dhabi through its subsidiary Abu Dhabi Health Services Company, better known as Seha in March.
Founded in 2006, Pure Health became the largest healthcare provider in the UAE in January 2022 when it was merged with the healthcare subsidiaries of Abu Dhabi holding company ADQ.
In December, it raised Dh3.62 billion from its initial public offering on the Abu Dhabi Securities Exchange in an oversubscribed deal.
It operates more than 100 hospitals, 300 clinics as well as diagnostic centres and pharmacies.
Its portfolio includes Seha, one of the largest healthcare networks of hospitals and clinics in the UAE, health insurance company Daman and healthcare procurement company Rafed.
Revenue from the hospital segment, which is the largest contributor to its overall revenue, rose 87 per cent annually in the nine-month period to Dh14.6 billion amid new acquisitions completed this year, it said. The integration of the National Rehabilitation Centre, the UAE’s largest addiction rehabilitation centre, and Sheikh Khalifa Hospital Fujairah, also supported the segment's performance, the company said.
The insurance segment’s revenue grew 17 per cent year-on-year to Dh5.1 billion in the first nine months this year, while the group's bed capacity has expanded by 82 per cent to 4,800 beds.
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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Fines for littering
In Dubai:
Dh200 for littering or spitting in the Dubai Metro
Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle.
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle
In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches
UAE currency: the story behind the money in your pockets
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Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.
The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.
All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.
No person who has received refuge in Poland will be sent back to a country torn by war.
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
UAE currency: the story behind the money in your pockets
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Mohammed bin Zayed Majlis
Mohammed bin Zayed Majlis
Neymar's bio
Total club appearances 411
Total goals scored 241
Appearances for Barca 186
Goals scored for Barca 105
UAE currency: the story behind the money in your pockets
