PureHealth Nine-Month Profit Climbs 14% to $481.7M as Overseas Assets Grow

PureHealth reported a net profit of $481.7 million (AED 1.8 billion) for the first nine months of 2026, up 14.1% year on year, after consolidating Hellenic Healthcare Group and expanding its insurance business. Revenue reached $6.1 billion (AED 22.4 billion), 11.5% higher.

EBITDA grew faster than sales, rising 20.4% to $1.1 billion (AED 4.2 billion). The margin widened to 18.6% from 17.3%, which the company tied to a bigger contribution from higher-margin international operations. The results were released on Friday.

International arm

International healthcare revenue was $2 billion (AED 7.3 billion), up 53%. Consolidation of Hellenic Healthcare Group, which operates hospitals in Greece and Cyprus, accounted for much of the increase, with underlying growth across the rest of the overseas portfolio adding to it. International EBITDA rose 63% to $435.7 million (AED 1.6 billion), and the segment margin improved to 22.3% from 20.8%.

Circle Health Group, described as the UK's largest private healthcare provider, lifted revenue 5.3% as the business shifted toward higher-acuity inpatient work. Hellenic's patient volumes rose 6%, driven mainly by outpatient activity.

Group CEO Shaista Asif said the company is strengthening its international offering, pointing to Circle Health Group's agreement to take over selected UK laboratory operations from Unilabs Limited. In the UAE, she said, spending on specialized care, clinical capabilities and capacity is producing results, helped by a ramp-up in patient activity.

Care segment

Care, the division covering hospitals, diagnostics, procurement and technology, booked revenue of $4.4 billion (AED 16 billion), up 11.5%. Third-quarter Care revenue was $1.4 billion (AED 5.3 billion), up 16.4%. Hellenic consolidation, expansion of the international portfolio and recovering UAE patient activity drove the growth.

Care EBITDA rose 25.4% to $919 million (AED 3.4 billion) at a 21% margin. Third-quarter EBITDA climbed 19.6% at a 19.8% margin, supported by Hellenic, busier UAE facilities and better use of added capacity. Care net profit was $300.1 million (AED 1.1 billion), up 21.3%, on stronger operating leverage and a larger contribution from international assets.

UAE outpatient volumes rose 9% and inpatient volumes 13% over the nine months, with activity strengthening after the first quarter. Operational bed capacity was 3,543 at period end, against 3,433 a year earlier. Occupancy reached 76%, which the company attributed to stronger use of expanded capacity. PureHealth runs the UAE's largest healthcare network, with more than 20 hospitals and about 5,000 licensed beds.

Insurance

Cover, the insurance arm built around Daman, generated $1.7 billion (AED 6.4 billion) of revenue, up 11.7%. Third-quarter revenue rose 15.1% to $615.7 million (AED 2.3 billion). Strong renewals, pricing discipline and new business drove the increase, and gross written premiums reached $1.9 billion (AED 6.8 billion), up 14%.

Daman reported 3.4 million active members, up 2%, and processed 43.2 million claims in the nine months, 6% more than a year earlier. The insurer handles more than 56 million claims annually.

Cover net profit was $181.6 million (AED 667 million), up 3.9%, while third-quarter profit fell 5.1% to $56.9 million (AED 209 million). The company said profitability held up while Daman invested in market share and platform growth. Its property and casualty business wrote $45.2 million (AED 166 million) in gross premiums, helped by product expansion, partnerships and a new SME line.

Balance sheet

Total assets were $15.6 billion (AED 57.3 billion), which the company said provides enough liquidity for its priorities and ongoing investment. Cash and bank balances stood at $1.1 billion (AED 4.2 billion). Working capital rose temporarily, mainly on government receivables. Net debt climbed to $3.9 billion (AED 14.4 billion) as cash and equivalents fell, while bank debt was broadly stable at $871.3 million (AED 3.2 billion).

The numbers show where profit is now being generated. International operations earn a 22.3% EBITDA margin against 21% in Care and 18.6% for the group, so the assets acquired in Greece, Cyprus and the UK carry a growing share of earnings. That ties more of PureHealth's results to integration abroad, and makes the pace of the UAE volume recovery less decisive for the group total than it was before the deals. PureHealth placed 54th on a 2026 ranking of the Middle East's 100 most valuable companies.