26 Nov 2012 10:30
NMC Health plc
New Hospital Services Management contract
26 November 2012 - NMC Health plc (LSE:NMC) ('NMC'), a leading integrated healthcare provider operating across the United Arab Emirates ('UAE'), has announced today that its subsidiary, NMC Healthcare LLC, has been awarded a five year contract to operate and manage the new Sheikh Khalifa General Hospital in the emirate of Umm Al Quwain, UAE.
Under the terms of the contract, NMC Healthcare's fee income will amount to US$4 million to US$5.4 million in the first year of operation, subject to certain performance criteria being met. All capital expenditure, hospital and staff expenses will be met by the UAE Ministry of Presidential Affairs. A Hospital Steering Committee comprising representatives of the Ministry will work closely with Executive Management (provided by NMC Healthcare) to oversee the operation and management of the hospital.
The Sheikh Khalifa General Hospital was constructed recently under contract from the UAE Ministry of Presidential Affairs, and is expected to open on 2 December 2012. The facility will offer a wide range of clinical and healthcare services including general medicine and surgery, emergency and intensive care, and dental services.
It willhave a capacity of 55 rooms for out-patient consultation, examination and treatment, as well as nine operating theatres and a total of 205 in-patient rooms.
As part of its contract, NMC Healthcare will also be managing all support services including pharmacy, equipment sterilisation and ambulance services as well as hospital administration.
At the end of the five years term of the agreement, the Executive Management team is expected to train and hand over their responsibilities to new management to be employed by the Ministry.
Dr B. R. Shetty, Chief Executive Officer, commented:
"We are delighted to have been awarded the Contract to operate and manage the newly constructed Sheikh Khalifa General Hospital in Umm Al Quwain on behalf of the UAE Ministry of Presidential Affairs. This is the fourth emirate in which NMC Healthcare will operate, and consolidates our position as the leading pan-UAE private healthcare operator.
"This contract is a new income stream for the group, providing healthcare management services to a third party, and the award of the contract is a testament to the reputation of NMC Healthcare which has built up across the UAE over nearly four decades.
"We look forward to working with the UAE Ministry of Presidential Affairs in making the Sheikh Khalifa General Hospital a success. We also look forward to caring for the population of Umm Al Quwain and the Northern Emirates, by providing first class healthcare services to them."
Contacts
Investors:
Binay Shetty, Chief Operating Officer
+971 2 6179 227
binayrshetty@nmc.ae
Simon Watkins, Group Company Secretary
+44 20 3205 3927
ir@nmc.ae
Media:
Brunswick London
Justine McIlroy/Azadeh Varzi
+44 20 7404 5959
Brunswick Gulf
Steve Martin Wajih Halawa
+971 5 6696 9232 +971 5 0100 9207
About NMC Health plc
NMC Health plc (LSE: NMC) was Admitted to Listing on the Premium Segment of the London Stock Exchange in April 2012. The NMC Health plc group operates two principal trading divisions. NMC Healthcare is a leading healthcare provider in the UAE, with business divisions in private hospitals, medical centres and pharmacies across Abu Dhabi, Dubai, Al Ain, Sharjah and Umm Al Quwain, and a distribution arm, NMC Trading, for the distribution of pharmaceuticals, medical and scientific equipment, food, veterinary and consumer products across the entire country.
From its inception in 1975, NMC Healthcare has evolved into an integrated healthcare company with a wide network of hospitals, medical centres, and pharmacies across the UAE. NMC Healthcare provides a comprehensive range of healthcare services, supported by experienced medical professionals cutting across various disciplines, covering the entire gamut of medical diagnosis and treatment. Over the years, NMC Healthcare has earned a reputation as a world-class medical institution synonymous with genuine care, concern and commitment.
www.nmchealthcare.com