Thursday, May 23, 2024
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On the Back of Increased Patient Foot Traffic, Abu Dhabi’s Burjeel Holdings Reports an 11% Revenue Growth

Burjeel Holdings, based in Abu Dhabi, reported an 11% increase in revenue to Dh1.2 billion in the first quarter and a 16% increase in adjusted net profit to Dh141 million over the same period last year.

The healthcare service provider, which has 82 assets, saw an 11% increase in inpatient foot traffic at its 17 hospitals and 42 medical centers in the United Arab Emirates and Oman in the 2024 quarter. Additionally, the company has recently expanded into Saudi Arabia.

The group’s hospitals, which generate 90% of its total revenue and are led by its flagship quaternary care facility, Burjeel Medical City (BMC), which saw a 21.8% growth rate to Dh283 million, remained a crucial factor in its success.

With increased foot traffic and a surge in super-specialty services, such as the opening of the UAE’s first-ever OncoHelix-CoLab and a thyroid parathyroid center, BMC contributed 26% of the hospitals’ overall revenue. To generate more higher yield inpatient foot traffic, the company continued to invest in complex care, as evidenced by the 7.7% growth in adjusted EBITDA (to Dh260 million) during the first quarter. A 16.3% increase in adjusted net profit was attributed to higher revenue growth, improved operational efficiency, and decreased financing costs.

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Thursday, May 23, 2024

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