PureHealth reported net profit of AED1.8 billion for the first nine months of 2026, an increase of 14.1% year on year, supported by international healthcare expansion and growth in its insurance business.
Revenue increased 11.5% to AED22.4 billion, while earnings before interest, taxes, depreciation and amortisation—EBITDA—rose 20.4% to AED4.2 billion.
The results cover the nine months ended September 30, 2026. The group’s EBITDA margin improved to 18.6% from 17.3%, reflecting operational efficiencies and a larger contribution from higher-margin international businesses. PureHealth
PureHealth’s Nine-Month Results at a Glance
| Financial Measure | Nine Months to September 2026 | Year-on-Year Change |
|---|---|---|
| Revenue | AED22.4 billion | Up 11.5% |
| EBITDA | AED4.2 billion | Up 20.4% |
| Net profit | AED1.8 billion | Up 14.1% |
| EBITDA margin | 18.6% | Up from 17.3% |
The margin improvement represents an increase of 1.3 percentage points.
EBITDA grew faster than revenue, indicating stronger earnings on that measure for each dirham of sales. However, EBITDA is distinct from net profit and does not account for all financing, tax and asset-related expenses.
International Healthcare Revenue Increases 53%
PureHealth’s international healthcare operations generated AED7.3 billion in revenue, up 53% year on year.
The increase reflected the consolidation of Hellenic Healthcare Group in Greece and Cyprus, alongside growth across the existing international portfolio. HHG contributed AED2.3 billion in revenue during the period.
International EBITDA rose 63% to AED1.6 billion, while the division’s EBITDA margin increased to 22.3% from 20.8%.
| International Healthcare Measure | Result |
|---|---|
| Revenue | AED7.3 billion |
| Revenue growth | 53% |
| EBITDA | AED1.6 billion |
| EBITDA growth | 63% |
| EBITDA margin | 22.3% |
| HHG revenue contribution | AED2.3 billion |
The consolidation effect is important when interpreting the growth rate. The 53% increase reflects both the inclusion of HHG and underlying business performance; it should not be described entirely as organic growth.
Circle Health and HHG Report Higher Activity
In the UK, Circle Health Group’s revenue increased 5.3%, supported by a shift towards higher-acuity inpatient care.
Higher-acuity services involve patients requiring more complex treatment. PureHealth identified this change in activity mix as a contributor to Circle’s performance.
HHG, meanwhile, recorded a 6% increase in patient volumes, driven mainly by outpatient activity.
Chairman Kamal Al Maazmi said the businesses were expanding PureHealth’s geographic reach and diversifying its earnings base across established healthcare markets.
UAE Patient Volumes Rise as Capacity Expands
Within the UAE healthcare business, activity strengthened after the first quarter.
Across the nine-month period, outpatient volumes increased 9%, while inpatient volumes rose 13% compared with a year earlier.
Operational bed capacity increased to 3,543 beds from 3,433, adding 110 beds. Occupancy reached 76%, indicating greater utilisation of the expanded network.
| UAE Healthcare Operating Measure | Nine-Month Performance |
|---|---|
| Outpatient volumes | Up 9% year on year |
| Inpatient volumes | Up 13% year on year |
| Operational beds | 3,543, compared with 3,433 |
| Bed occupancy | 76% |
| EBITDA | AED1.74 billion |
| EBITDA growth | 3% |
| EBITDA margin | 20.0%, compared with 17.7% |
The AED1.74 billion EBITDA figure relates to UAE healthcare operations, rather than the group as a whole.
Reported UAE Revenue Falls, but Normalised Revenue Grows
PureHealth’s official results provide additional context for the UAE division.
Reported UAE healthcare revenue fell 9.2% to AED8.7 billion. The company attributed the decline to Unified Purchasing Programme revenue recognition, internal revenue eliminations and lower patient activity in the first quarter.
On the company’s normalised basis, revenue increased 6% to AED10.1 billion. PureHealth
These figures measure performance on different bases and should not be used interchangeably.
The company also identified the lower reported revenue base as one factor behind the UAE division’s margin expansion. The increase from 17.7% to 20.0% therefore reflects more than operational improvements alone.
Insurance Revenue Reaches AED6.4 Billion
PureHealth’s insurance business recorded AED6.4 billion in revenue, up 11.7% year on year.
The company attributed the increase to policy renewals, pricing discipline and new business.
Gross written premium rose 14% to AED6.8 billion, while the number of insured members increased 2% to approximately 3.4 million. Health claims processed reached 43.2 million, an increase of 6%.
| Insurance Measure | Nine-Month Result |
|---|---|
| Revenue | AED6.4 billion |
| Revenue growth | 11.7% |
| Gross written premium | AED6.8 billion |
| Gross written premium growth | 14% |
| Insured members | Approximately 3.4 million |
| Membership growth | 2% |
| Health claims processed | 43.2 million |
Gross written premium and insurance revenue are different measures. Their totals should not be combined as though they represent separate revenue streams.
Daman Expands Beyond Health Insurance
Daman continued developing its multi-line insurance offering during the period.
Its Property and Casualty business generated AED166 million in gross written premium, supported by product expansion, strategic partnerships and the launch of a dedicated small and medium-sized enterprise business line.
Daman’s net profit increased 3.9% to AED667 million, even as the business continued investing in market-share expansion and platform development.
The growth gives PureHealth another source of earnings alongside its hospital and healthcare operations.
Diagnostics and Digital Investment Remain Priorities
Group CEO Shaista Asif highlighted Circle Health Group’s agreement to take over selected UK laboratory operations from Unilabs Limited.
She said the arrangement would bring diagnostics and hospital services closer together. The announcement describes an agreement and should not be read as confirmation that every planned transfer has already been completed.
In the UAE, management pointed to investment in specialised care, clinical capabilities and capacity as supporting the improvement in patient activity.
PureHealth is also introducing AI and digital technologies across clinical processes, procurement and patient engagement. Management’s stated aims include reducing operational complexity, improving care delivery and making services more accessible.
International Expansion Changes the Earnings Mix
The results show international healthcare becoming a larger contributor to PureHealth’s revenue and profitability, while insurance continues to provide growth.
The UAE business presents a more mixed picture: patient volumes, capacity utilisation and EBITDA improved, but reported revenue declined because of accounting-related effects and the slower first quarter.
As the group develops its expanded portfolio, the key measures will be sustained patient demand, integration performance and the extent to which operational improvements translate into net earnings.
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