nmc health targets saudi growth to keep ftse 100 slot
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

NMC Health targets Saudi growth to keep FTSE 100 slot

Arab Today, arab today

Arab Today, arab today NMC Health targets Saudi growth to keep FTSE 100 slot

NMC Health targets Saudi growth to keep FTSE 100 slot
Abu Dhabi - WAM

NMC Health, the UAE-based health care provider, plans to expand in Europe and the Gulf to retain its recently won place in London's FTSE 100 blue chip index.
Next week NMC is set to become the only Middle Eastern company whose stock is a constituent of the prestigious benchmark, giving it access to a new and more stable investor base as well as exposure to greater shareholder scrutiny.
“The most important thing now is to continue performing and solidify growth that we’ve seen since we began acquiring assets in 2015,” NMC CEO Prasanth Manghat told Reuters.
A company needs to ensure that its market capitalization grows in order to stay in the index, unlike Jordan-based Hikma Pharmaceuticals which entered the FTSE 100 index in 2015 but was subsequently ejected after its share price slid.
Manghat said that NMC, which listed in London in 2012, would strengthen its position with further investment, using $500 million in cash and unused financial facilities.
“We will definitely look at opportunities to consolidate and grow in Europe, the UK and the Gulf,” he added.
NMC entered Europe by acquiring one fertility clinic in Spain and one in Italy and now has three in each country. It also has three such clinics in Brazil and one in Colombia.
“It is a very good business where, we believe, not many investments are coming. Corporatization of the IVF (fertility) business is our aim,” Manghat said.
NMC treated 2.88 million patients in the first half and growth in the Gulf’s health care sector is being driven by growing populations becoming more susceptible to lifestyle diseases such as diabetes and obesity.
While NMC is looking at further growth in the UAE, its main target market is Saudi Arabia where it made a first foray last year by building a new hospital and buying a stake in another.
NMC will invest in long-term care, fertility and general clinics across smaller cities in Saudi Arabia, Manghat said, adding that the firm was also bullish on Oman, where he hopes deals could materialize by the end of the year.
Saudi Arabia’s government has said it will welcome foreign investors in its healthcare sector to relieve a huge budget deficit resulting from low oil prices.
Although uncertainty remains about how Riyadh will regulate investment, Manghat said NMC could cope more easily with the high costs and sophisticated technology needed to run Saudi hospitals than smaller competitors.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nmc health targets saudi growth to keep ftse 100 slot nmc health targets saudi growth to keep ftse 100 slot

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nmc health targets saudi growth to keep ftse 100 slot nmc health targets saudi growth to keep ftse 100 slot

 



GMT 05:50 2017 Tuesday ,15 August

20 killed in Takhar funeral attack

GMT 04:51 2017 Thursday ,13 April

Huda Kattan among top 10 beauty influencers

GMT 09:44 2018 Saturday ,06 January

Aoun to deliver speech in Rome this afternoon

GMT 09:14 2017 Saturday ,30 December

London stocks end year on record high

GMT 11:47 2017 Monday ,11 December

France's rightwing shifts after Macron victory

GMT 04:49 2013 Monday ,27 May

Feng Shui living room concepts

GMT 19:45 2017 Wednesday ,18 January

The UAE Releases Global State of the Future Report

GMT 23:40 2017 Wednesday ,18 October

OIC condemns terrorist attack in Jeddah

GMT 16:41 2017 Saturday ,18 February

FBMA International Show Jumping Cup 2017 competition

GMT 17:43 2017 Tuesday ,14 February

Spanish activists taken to court over BDS activism

GMT 21:37 2017 Sunday ,02 July

Religious tourism lottery to be held on Monday

GMT 15:27 2017 Saturday ,24 June

US imposes ban on fresh Brazil beef imports

GMT 06:07 2017 Tuesday ,24 October

Air Force set to create new ISR unit with Global Hawk

GMT 03:49 2017 Thursday ,22 June

Dalai Lama says will visit Trump

GMT 03:52 2017 Sunday ,15 January

Drydocks World and GDRFA sign MoU partnership
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday