Technology
PureHealth Achieves AED 1.0 billion Net Profit in 1H 2024; EBITDA Soars to AED 2.2 billion
Published
4 months agoon
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PureHealth booked a 53% y-o-y increase in revenue to AED 12.5 billion in H1 2024 following solid growth across its verticals.The Group’s EBITDA grew 15% y-o-y to AED 2.2 billion and it recorded a margin of 17.2% in H1 2024.
ABU DHABI, UAE, July 31, 2024 /PRNewswire/ — PureHealth Holding PJSC (‘PureHealth’ or ‘the Group’) (ADX Symbol: PUREHEALTH), the largest healthcare platform in the Middle East, today announced its financial results for the period ended 30 June 2024. PureHealth recorded a strong revenue increase of 53% y-o-y to AED 12.5 billion in H1 2024 on the back of solid growth booked across the majority of its verticals, primarily from the Hospitals, Insurance and Procurement segments.
Commenting on the results, the Group’s Chairman, Hamad Al Hammadi, said: “PureHealth remains committed to its vision of transforming healthcare delivery in the UAE and beyond. I am pleased to report that the Group has closed out the first half of 2024 with strong performance, which reflects the continued trust our patients place in the quality and breadth of our services. We are committed to progressing our journey as a leading UAE-based healthcare provider with global aspirationswith unwavering focus and determination.”
Revenue from Hospitals grew 83% y-o-y to AED 9.6 billion in H1 2024, primarily driven by the contributions generated from the Group’s acquisitions of Sheikh Shakhbout Medical City (SSMC) and Circle Health Group during the period. The segment’s revenue was also supported by higher patient volumes (OP up 17% y-o-y, IP up 43% y-o-y, and ED up 43% y-o-y)1 along with an 11% increase in overall bed occupancy to 72%, as well as the addition of the National Rehabilitation Center (NRC) to PureHealth’s portfolio during the period.
The Insurance segment’s revenues grew 15% y-o-y to AED 3.3 billion in H1 2024 due to an overall increase in premiums, specifically from the Enhanced Insurance portfolio, as well as from the rise in the segment’s total number of active members to 3.1 million in H1 2024 compared to 2.9 million in H1 2023. Parallel to this, the Procurement and Supply of Medical Related Services segment also supported the Group’s top-line growth for the period. The segment recorded revenue growth of 36% y-o-y to AED 2.7 billion in H1 2024 as the Group onboarded new customers and executed strategic expansions in diagnostics and medical devices as well as across the pharmaceutical and diabetes divisions.
On the strategic front, the Group acquired a 100% stake in Circle Health Group, the UK’s largest independent hospital operator, as well as SSMC, which stands as the UAE’s premier healthcare complex, known for its cutting-edge stem cell therapy facilities and top-tier clinical expertise. Additionally, the Group has offloaded its investments in Yas Clinic Group and Abu Dhabi Stem Cell Center (ADSCC) with effect from April 1, 2024. These divestments enable PureHealth to focus on advancing the specialised healthcare services previously provided at ADSCC and Yas Clinic, now fully integrated into SSMC, which aligns with PureHealth’s overarching strategy to streamline operations and relocate resources towards synergies across the Group as it looks to enhance its focus on advancing specialized healthcare services.
Shaista Asif, Group Chief Executive Officer at PureHealth, said: “The first half of the year has seen us continue to deliver on our growth strategies as we are actively pursuing expansion across both the local and international stages and have delivered on those fronts through the acquisition of Circle Health Group and SSMC. These assets provide us with additional avenues for growth within our Hospitals segment, allowing us to serve a wider patient base across the UAE and establish a stronger international presence.
Moreover, technology continues to be a critical driver of our success. Our recent advancements in digital health and AI solutions are not merely technological accomplishments; they represent transformative tools that have a tangible impact on patient care. These innovations exemplify our commitment to leveraging technology to streamline operations, enhance patient outcomes, and ultimately empower us to deliver on our promise of a healthier future for all.”
The Group has continued to innovate and establish technological advancements through its dedicated technology company PureCS, which powers PureHealth’s digital and technology segment. These include the most recent launch of an AI-powered blood glucose monitoring app, which empowers users to take charge of their health, as well as the significant progress made in the National Unified Medical Records initiative, aggregating millions of records and facilitating better patient care coordination across the UAE.
In terms of profitability, the Group’s EBITDA grew 15% y-o-y to AED 2.2 billion in H1 2024 and yielded an EBITDA margin of 17.2% during the period. The net profit for the Group for H1 2024 is AED 1.0 billion, reflecting a net profit margin of 8.0%.
Shaista provided conclusionary remarks, stating: “Looking ahead, the strong foundation we have built in the first half of 2024 positions us perfectly to capitalise on exciting opportunities and maximise the value creation opportunities for our shareholders. Our commitment to executing on an attractive acquisition pipeline, combined with the Group’s continuous innovation through its technology segment, will continue to fuel our growth engine. We are confident that these advancements will not only expand our reach and serve a wider patient base but will also further solidify PureHealth’s position as a healthcare leader at the forefront of innovation.”
1 Outpatient (OP), inpatient (IP), and emergency department (ED) patient traffic figures from the comparable period exclude Covid-related patient traffic.
About PureHealth
By advancing the Science of Longevity, PureHealth is introducing the healthcare of the future from the United Arab Emirates to the rest of the world. PureHealth is the largest healthcare platform in the Middle East with an ecosystem that challenges lifespans and reimagines health spans. With 100+ hospitals, 300+ clinics, multiple diagnostic centres, health insurance solutions, pharmacies, health tech, procurement, investments and more, its groundbreaking innovations are at the forefront of healthcare as the company is on a mission to unlock time for humankind.
Pure Health’s network comprises:
SEHA – One of the largest healthcare networks of hospitals and clinics in the UAEAmbulatory Healthcare Services (AHS) – Delivering comprehensive community-based healthcare servicesDaman (The National Health Insurance Company) – The UAE’s leading health insurerThe Medical Office – Overseeing Sheikh Khalifa Hospitals and healthcare facilities established under the initiatives of H.H. The President of the UAERafed – The UAE’s largest healthcare Group Purchasing OrganisationPureLab – Managing and operating the largest network of laboratories in the regionOne Health – A network that provides end-to-end medical solutions to a base of over 300 healthcare service providersThe Life Corner – Abu Dhabi’s first holistic pharmacy, serving the health and wellness establishmentArdent Health Services – The fourth largest privately held acute care hospital operator in the USCircle Health Group – The largest independent operators of hospitals in the UKPureCS – A leading cloud and technology services provider, specialising in IT management and consulting solutions, cybersecurity, cloud services and AI information systemsSheikh Shakhbout Medical City (SSMC) – The UAE’s largest healthcare complex, delivering integrated complex care
To learn more, please visit www.purehealth.ae
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View original content:https://www.prnewswire.co.uk/news-releases/purehealth-achieves-aed-1-0-billion-net-profit-in-1h-2024-ebitda-soars-to-aed-2-2-billion-302210770.html
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Technology
Thermaltake Black Friday and Cyber Monday Sale Offers Savings of Up to 250 Dollars on Gaming PCs and 35 Percent on PC Cases Starting November 21
Published
56 minutes agoon
November 14, 2024By
Shop Exclusive Deals on Gaming Desktops, PC Cases, Coolers, and Power Supplies at Amazon, Best Buy, Newegg, and Thermaltake website for a Limited Time Through December 2
WALNUT, Calif., Nov. 14, 2024 /PRNewswire-PRWeb/ — Thermaltake, a global leader in PC gaming hardware, is excited to announce its highly anticipated Black Friday and Cyber Monday sales event, running from November 21 to December 2, 2024. Just in time for the holiday season, this event offers exclusive discounts on around 60 top-rated gaming products, including savings of up to 35 percent on PC cases and up to 250 dollars off select gaming desktops. Customers can also take advantage of additional deals on cooling solutions, power supplies, and accessories.
Highlighting this promotion are flagship prebuilt gaming desktops powered by the latest Intel® Core processors and NVIDIA® GeForce RTX™ 40 series graphics cards, premium PC cases, cooling fans, and AIO liquid coolers. These unbeatable offers will be available through major online retailers, including Amazon, Best Buy, Newegg, and Thermaltake Website, providing gamers and enthusiasts the perfect opportunity to upgrade their setups with high-performance, reliable gear just in time for the holidays.
“Thanksgiving, Black Friday, and Cyber Monday have become a celebrated tradition for shoppers across the nation. Thermaltake is excited to be part of this festive season, offering an array of special deals as a token of appreciation to our valued customers and the gaming community,” said Michael Guo, Vice President of Thermaltake USA. “We invite every gamer to take advantage of these special offers. Our promotion, available through major e-tailers like Amazon, Best Buy, and Newegg, offers a great opportunity for enthusiasts to enhance their gaming experience.”
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About Thermaltake
Thermaltake Technology was established in 1999 and has been marketed worldwide under the Thermaltake brand name ever since. With the mission to “Deliver the perfect user experience,” Thermaltake has since become the leading brand in Gaming Computer Hardware: from chassis, power supply units, cooling systems, and memory modules to gaming PCs, gaming peripherals, and gaming furniture. Thermaltake is the leader in the PC DIY, Case Mod & Gaming Market and is the number one choice for Gamers, Modders & PC DIY Enthusiasts worldwide.
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Technology
Agora Launches Smart Questionnaire to Simplify the Onboarding and Subscription Process For Real Estate Investors
Published
56 minutes agoon
November 14, 2024By
The new tool converts complex signature documents into personalized, interactive, and simple questionnaires.
NEW YORK, Nov. 14, 2024 /PRNewswire/ — Agora, a leading real estate investment management platform with offices in New York City and Tel Aviv, is announcing the launch of its Smart Questionnaire. This tool is designed to help real estate LPs complete subscription agreements, and ultimately empower GPs to raise capital faster. Agora’s Smart Questionnaire reduces the complexity of the subscription process, helping convert complex signature documents into simple, personalized interactive questionnaires.
What the Smart Questionnaire does:
Transforms Complex Documents: Converts subscription documents into simple, interactive questionnaires that investors can complete with ease.Personalizes Content for Investors: Allows GPs to create interactive, pre-filled questionnaires that are simple and efficient for LPs to complete.Facilitates Seamless Collaboration: Supports multi-user input, allowing LPs, GPs, family offices, and others to complete sections collaboratively.Supports Efficient Revisions: Allows investors to correct only the necessary fields without redoing the entire form, minimizing back-and-forth.Streamlines Key Processes: Simplifies creation and completion of subscription agreements, operating agreements, and limited partnership agreements, making onboarding faster and more user-friendly.
“Agora has cracked the code for investor onboarding with our Smart Questionnaire. The tool turns complex subscription agreements into digital, interactive questionnaires that investors can complete in a few clicks,” stated Lior Dolinski, Co-Founder and Chief Product Officer of Agora. “This solution not only simplifies the process for investors but also enhances collaboration between LPs and GPs, creating a smoother, more efficient experience for real estate investment firms.”
Agora’s Smart Questionnaire offers the opportunity to enhance investors’ experiences with personalized workflows, simplify and speed up onboarding and investor commitments, and make for easier collaboration – similar to many of its other tools designed specifically for real estate professionals. Further, the launch of the Smart Questionnaire comes shortly after the launch of Agora’s Report Builder, a first-of-its-kind tool that helps real estate professionals create custom reports for clients, such as distribution notices, quarterly reports, and more, and is similar to website-building tools such as Wix or Squarespace, incorporating drag-and-drop functionality and dynamic fields. Additionally, Agora also launched its Waterfall Tool, which helps professionals navigate waterfall distributions – a method of allocating capital gains or returns among investors.
Book a demo to learn more about Agora here: https://agorareal.com/
About Agora:
Agora, a fintech and SaaS company based in New York City and Tel Aviv, offers an innovative real estate investment management platform designed for modern real estate investment businesses. This comprehensive software solution combines technology, automation, and real estate expertise to streamline investment management. Agora transforms how firms raise and preserve capital, delivering a seamless, efficient experience for both managers and investors by automating back-office tasks, enhancing investor satisfaction, and providing advanced tools to optimize operational efficiency. Core services include investor portals, CRMs, data rooms, automated investor onboarding, and expert CPA for bookkeeping and tax management, giving clients comprehensive control over their financial operations. Additionally, Agora delivers powerful data insights, enabling clients to make informed, data-driven decisions across a wide range of asset classes, including multifamily, residential, industrial, office, agriculture, and debt and equity funds.
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SOURCE Agora Real Estate
Technology
Millimeter Wave Technology Market is expected to generate a revenue of USD 14.8 Billion by 2031, Globally, at 9.5% CAGR: Verified Market Research®
Published
56 minutes agoon
November 14, 2024By
Verified Market Research® a leading provider of business intelligence and market analysis is thrilled to announce the release of its comprehensive and authoritative report on the, “Millimeter Wave Technology Market Size and Forecast.” This in-depth market research report is designed to provide industry leaders, decision-makers, and technology experts with critical insights into the expanding world of millimeter wave technology, emphasizing its pivotal role in future communication and industrial applications.
LEWES, Del., Nov. 14, 2024 /PRNewswire/ — The Global Millimeter Wave Technology Market Size is projected to grow at a CAGR of 9.5% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.6 Billion in 2024 and is expected to reach USD 14.8 Billion by the end of the forecast period.
The global market for millimeter wave technology is on a trajectory of substantial growth, driven by the surge in demand for high-speed, data-intensive communication networks, particularly in 5G and beyond. Our report offers a complete view of the market landscape, covering key segments, competitive dynamics, emerging trends, and the opportunities that lie ahead.
Key Insights and Opportunities:
Market Trends: Analysis of current trends driving the adoption of millimeter wave technology, including its increasing integration in telecommunications, automotive radar systems, and industrial automation.Technology Landscape: In-depth examination of advancements in millimeter wave components such as antennas, transceivers, and sensors that are reshaping the industry.Competitive Analysis: Insightful profiling of leading companies and their market strategies, innovation roadmaps, and R&D investments.Regional Insights: Comprehensive coverage of market dynamics in North America, Europe, Asia-Pacific, and other regions, highlighting the growth potential in developing and mature markets.Future Outlook: Forecasting market size, potential challenges, and opportunities to help businesses navigate this rapidly evolving sector.
This report is a crucial resource for professionals involved in the fields of telecommunications, semiconductor manufacturing, defense, and IoT (Internet of Things), providing actionable intelligence to drive informed strategic decisions. Companies seeking to stay ahead of the curve will find detailed competitor benchmarking, key investment pockets, and insights into technology partnerships that can lead to competitive advantages.
Why Industry Leaders Should Consider This Report:
Gain a clear understanding of the market’s growth drivers and restraints.Uncover new revenue streams in the dynamic millimeter wave technology space.Benchmark your position against industry competitors and recognize areas for improvement.Make data-driven investment decisions backed by a reliable forecast and detailed market analysis.
Stay ahead of the curve in the ever-evolving Millimeter Wave Technology Market. For more information or to request a sample copy of the report, please visit: https://www.verifiedmarketresearch.com/download-sample?rid=3287
Browse in-depth TOC on “Global Millimeter Wave Technology Market Size“
202 – Pages
126 – Tables
37 – Figures
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
GROWTH RATE
CAGR of 9.5% from 2024 to 2031
BASE YEAR FOR VALUATION
2024
HISTORICAL PERIOD
2021-2023
FORECAST PERIOD
2024-2031
QUANTITATIVE UNITS
Value in USD Billion
REPORT COVERAGE
Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis
SEGMENTS COVERED
ComponentFrequency BandProductLicense TypeEnd-User
REGIONS COVERED
North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa
KEY PLAYERS
Qualcomm Technologies, Inc., NEC Corporation, L3 Technologies, Inc.,, Millimeter Wave Products Inc.,, Keysight Technologies
CUSTOMIZATION
Report customization along with purchase available upon request
Global Millimeter Wave Technology Market Overview
Rising Demand for High-Speed Data Transmission: The increase in mobile data traffic and the expansion of 5G networks are driving the Millimeter Wave Technology Market. Rapid data transfer is essential for facilitating next-generation communication. This transition facilitates uninterrupted streaming, IoT integration, and smart city development, increasing investment in millimeter wave technologies, improving network efficacy, and creating a profitable market for telecoms companies.
Advancements in Automotive and Autonomous Technologies: The automotive and autonomous vehicle industries are progressively integrating millimeter wave technologies to improve radar and communication systems. These technologies provide accurate object identification, collision prevention, and lane guidance. As the automotive sector advances towards autonomous driving solutions, millimeter wave technology becomes crucial, facilitating market growth. Manufacturers and suppliers in automotive electronics are anticipated to witness significant demand growth.
Growth in Military and Defense Applications: Military and defense sectors are heavily investing in advanced millimeter wave technology for secure and high-speed communication, radar systems, and surveillance. Its superior bandwidth and low interference make it ideal for defense communications. The focus on modernizing defense capabilities in developed and developing nations is expected to drive market growth. Defense contractors and technology developers will find abundant opportunities in this evolving sector.
To Purchase a Comprehensive Report Analysis: https://www.verifiedmarketresearch.com/select-licence?rid=3287
High Infrastructure and Equipment Costs: Notwithstanding its benefits, the substantial initial expenses associated with millimeter wave technology infrastructure hinder widespread implementation. The establishment of network infrastructure and specialized equipment requires substantial expenditure, constraining market entry in price-sensitive areas. Companies must evaluate the advantages relative to the significant investment, which may impede market expansion for cost-sensitive sectors such as telecommunications and manufacturing.
Signal Attenuation Challenges: Millimeter wave signals are prone to attenuation, particularly when encountering obstructions like buildings, trees, or inclement weather. This constraint affects the efficacy of the device in densely populated or difficult areas. Mitigating signal loss necessitates increased network densification and the installation of repeaters, hence complicating deployment and escalating expenses. Service providers must devise strategies to alleviate these constraints for sustained market expansion.
Limited Availability of Spectrum: The Millimeter Wave Technology Market is hindered by the restricted availability of spectrum, essential for 5G and high-frequency applications. Regulatory constraints and rivalry for spectrum allotment among companies may impede expansion initiatives. Telecommunications companies and allied sectors encounter challenges in obtaining adequate spectrum to sustain their services, which may affect the velocity and magnitude of future installations.
Geographical Dominance
North America occupies a preeminent position in the Millimeter Wave Technology Market, propelled by early 5G implementation, substantial R&D investment, and a flourishing technological ecosystem. The involvement of critical stakeholders and a robust defense sector further enhances progress. This regional supremacy propels technological advancements and establishes global benchmarks, stimulating demand for millimeter wave solutions internationally. North America’s leadership encourages investment in other regions, enhancing total market growth.
Key Players
The “Global Millimeter Wave Technology Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Qualcomm Technologies, Inc., NEC Corporation, L3 Technologies, Inc., Millimeter Wave Products Inc., Keysight Technologies.
Millimeter Wave Technology Market Segment Analysis
Based on the research, Verified Market Research has segmented the global Millimeter Wave Technology Market into Component, Frequency Band, Product, License Type, End-User and Geography.
Millimeter Wave Technology Market, by ComponentFrequency Sources & Related ComponentsCommunication & Networking ComponentsMillimeter Wave Technology Market, by Frequency Band24-57 GHz57-95 GH2Millimeter Wave Technology Market, by Vehicle TypeScanning SystemsRadar and Satellite Communication SystemsMillimeter Wave Technology Market, by License TypeLight LicensedUnlicensedMillimeter Wave Technology Market, by End UserCellular & TelecomConsumer & CommercialMillimeter Wave Technology Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin America
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Visualize Millimeter Wave Technology Market using Verified Market Intelligence -:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, VMR has been instrumental in providing founders and companies with precise, up-to-date research data.
With a team of 500+ Analysts and subject matter experts, VMR leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.
VMR’s domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.
Verified Market Research® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights VMR’s dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide.
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Thermaltake Black Friday and Cyber Monday Sale Offers Savings of Up to 250 Dollars on Gaming PCs and 35 Percent on PC Cases Starting November 21
Agora Launches Smart Questionnaire to Simplify the Onboarding and Subscription Process For Real Estate Investors
Millimeter Wave Technology Market is expected to generate a revenue of USD 14.8 Billion by 2031, Globally, at 9.5% CAGR: Verified Market Research®
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