NMC Expands Healthcare System

NMC health, one of the largest healthcare providers in the private sector in the UAE has announced a strategic expansion within its home-care and long-term vertical. The company, which has a network of hospitals and clinics across the United Arab Emirates, as well as a fertility centre in Barcelona, has acquired a 70pc stake in As Salama Hospital in Al Khobar, Eastern Saudi for $45 million. 140 hospital beds will be added to the facility at the As Salama Hospital, which offers a range of services as well as long-term care for chronic illnesses. NMC health has announced it will continue to develop and expand the long-term care facility.
As a member of the FTSE-250, NMC has also taken a majority stake in a new 120 bed hospital which specialises in chronic care, in the western city of Jedddah. $4 million has been invested by NMC into the project as well as a $9 million loan, provided for its subsidiary Provita, which will manage the business.
“This represents another major advance toward our objective of developing a regional leader in the field of specialist long-term care” said B.R Shetty, CEO of NMC.
NMC health also have plans to revamp the existing facilities at Alkhobar-based As Salama, and the possible investment and expansion in the central region of Saudi, which includes the capital Riyadh. The healthcare chain now has 1,135 operational beds across its network, which although primarily in the UAE, includes Spanish fertility firm Clinica Eugin. The NMC generated EBITDA OF $115.9 million in the first half of 2016, which is up 68.2 percent over the same period last year.

Contributor: Candy Lebby

August 31, 2016