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NMC Health notches up bumper year as acquisition spree continues

Over a third of its licensed bed capacity is in Saudi Arabia
Surgery
NMC operates in 13 countries

Middle East-focused hospital operator group NMC Health plc (LON:NMC) lifted revenues by a third and predicted another strong year ahead as more sites come on stream.

“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,” said Prasanth Manghat, chief executive.

“The most important assets to keep a track of in this regard are: NMC Royal, Brightpoint and Chronic Care for ramp-up of operations, Al Zahra Hospital and CosmeSurge from an integration standpoint and the GCC [Gulf Co-operation Council] in general and KSA [Saudi Arabia] in particular for additional acquisitions as we continue to see the benefit from acquiring assets and optimising their capabilities within the NMC network/model.”

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NMC operates 125 hospitals and clinics across 13 countries and is also one of the world’s top 3 in-vitro fertilisation operators. Over a third of its licensed bed capacity is in Saudi Arabia.

Sales at the FTSE 100 group rose to US$1.6bn (US$1.22bn) in the year to December, while underlying profits [EBITDA] rose 43% to US$353mln.

The dividend rises by 20% to 13p.

Shares eased 2.6% to 3,272p.

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