UAE – Pure Health Holding reported a net profit attributable to shareholders of AED 964.65 million [US$262M] in 2023, down from AED 3.71 billion in 2022 in a significant financial milestone.  

Despite this decline, the company experienced a remarkable 31% year-on-year increase in revenues, soaring to AED 16.39 billion from AED 12.48 billion, as revealed in its financial results. 

The dip in earnings per share (EPS) to AED 0.10 from AED 0.38 in 2022 was accompanied by a notable rise in total assets, which amounted to AED 28.17 billion by December 31, 2023, up from AED 24.10 billion. 

 Shaista Asif, Group CEO of Pure Health, attributed this surge to the successful integration of acquisitions and emphasized the company’s commitment to unlocking value across its ecosystem, optimizing costs, and capturing synergies, resulting in a healthy EBITDA margin of approximately 15%. 

Pure Health expands into UK market 

Pure Health ventured into the UK market with the acquisition of Circle Health, the UK’s largest private healthcare company, from Centene Corporation for Dh4.41 billion (US$1.2 billion), a few months before registering the impressive profits.

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 Farhan Malik, managing director and group chief executive of Pure Health, highlighted the company’s mission to drive scientific innovation for the betterment of humanity and expressed optimism about the positive impact of integrating the expertise of both organizations on global patient care. 

This acquisition aligns with Pure Health’s expansion strategy, which includes a commitment to spend Dh10 billion over the next decade on procuring products in the UAE and supporting the country’s economy. Additionally, the company recently completed a Dh1.8 billion equity investment in Ardent Health Services, the US’ fourth-largest private healthcare group, and expressed ambitions to leverage cutting-edge science to extend human lifespan. 

With a network of over 25 hospitals, 160 laboratories, 100 clinics, and a workforce exceeding 24,000 employees, Pure Health is poised for continued growth and success. Hammad Al Ameri, chief executive and managing director of Abu Dhabi-listed Alpha Dhabi Holding, hailed the Circle Health acquisition as a major milestone and expressed confidence in its ability to enhance patient care under Pure Health’s ownership. 

Founded in 2004, Circle Health boasts a workforce of more than 8,200 employees and 6,500 consultants, operating across more than 50 hospitals in the UK.  

With an annual revenue exceeding Dh4.7 billion, Pure Health’s acquisition of Circle Health is expected to further elevate the quality of healthcare services and clinical outcomes across the UK healthcare landscape. 

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