NMC has seen a significant profit rise, and is looking towards further acquisitions
Private healthcare company NMC Healthcare has gone from strength to strength. From revenues exceeding $640mn in 2014, its 2017 profit rose by close to 40% from 2016’s figures.
The private healthcare across the Middle East has grown exponentially, alongside the rise in medical tourism. Chronic lifestyle diseases and the demand for services within diabetes care, for example, remain high.
NMC has become equipped in taking advantage of such trends in the industry by building on its existing capabilities, whilst developing new specialist areas to remain a leader in the market.
Managing over 130 healthcare facilities, encompassing hospitals, medical centres, long-term care facilities, and more, NMC continues to attract patients from across the world due to its strong reputation, and has been behind a number of acquisitions since last year.
In 2017, the company acquired Al Zahra Hospital in Sharjah for $322mn, signalling its desire to expand into future markets of untapped potential, such as Saudi Arabia and Dubai. It also acquired Saudi medical centres company Al Salam and UAE-based cosmetics surgery company CosmeSurge for over $200mn.
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“Our growth in revenue and improved profitability are attributed to both an improvement in performance of our existing hospitals and medical facilities and the acquisitions made within the Middle East, Europe and South America over the last two years,” the company has said.
NMC became the first company in Abu Dhabi to list on the London Stock Exchange and became part of the FTSE 100 Index in September 2017. It also houses the largest number of JCI accredited hospitals in the UAE.
With such strong brand recognition, NMC has also become the firm provider of choice in the Middle East, and will continue in its acquisition spree in 2018. Last year, the company spent up to $641mn on acquisitions, The Telegraph reported.
“Sustained ramp-up of utilisation at facilities we opened in recent years, integration of acquired assets and continued discipline in organic and inorganic expansions should all translate into a very promising 2018 and beyond,” commented Prasanth Manghat, Chief Executive Officer of NMC
“We see 2017 as setting the stage for many more years of growth for the company and we begin 2018 with confidence.”