23 Aug 2017 07:15
23 August 2017
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NMC Health plc
(the "Company" or "NMC")
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New O&M Contract
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NMC Health plc (LSE:NMC), the leading integrated healthcare provider operating across the United Arab Emirates today announces it has signed a new O&M contract for the management of Emirates Healthcare assets, comprising three brands:
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· Emirates Hospitals and Clinics: General medical services across six Emirates in the UAE
· CosmeSurge: Provider of cosmetic medical services in the UAE with 1 clinic in the UK
· Emirates Rehab and Homecare Services: Rehabilitation segment that provides home nursing, rehabilitation, therapeutic care and home-based care. Present in the UAE, Slovakia and Oman
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NMC also recently extended the management contract for the 205 bed Sheikh Khalifa General Hospital in Umm Al Quwain (managed on behalf of the UAE Ministry of Presidential Affairs) for a further five years. The original contract was the first ever awarded by a Government Department to a local UAE business to manage a large Government healthcare facility, demonstrating confidence in NMC's significant healthcare experience and capabilities.
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NMC is now managing multiple private and public sector healthcare facilities across varied geographies. Total annual revenues from the O&M vertical are set to reach USD $ 19m. These contracts continue to be associated with good returns and require minimal capital expenditure or working capital on part of the Group.
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Enquiries:
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NMC Health plc
Prasanth Manghat, Chief Executive Officer
+971 (0)50 522 5648
Suresh Krishnamoorthy, Chief Financial Officer
+971 (0)50 591 5365
Asjad Yahya, Investor Relations
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Media:
FTI Consulting, London
Brett Pollard / Mo Noonan
+44 (0)20 3727 1100
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FTI Consulting, Gulf
Shane Dolan
+971 (0)4 437 2100
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About NMC Health
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The NMC group (the "Group") is the leading private sector healthcare operator in the United Arab Emirates, with a nation-wide network of hospitals and operations in the country since 1975. The Group currently operates or manages eight hospitals, two day-care patient centres, nine medical centres and fifteen pharmacies. In addition, the Group owns and operates Clinica Eugin in Barcelona, Spain - one of the leading fertility treatment centres globally. NMC also owns a 51 per cent. shareholding in Fakih IVF Group, the Middle East market leader for in-vitro fertilisation ("IVF") services. Moreover, NMC also owns and operates Americare Group, the leading home care provider in the UAE as well as ProVita, the pioneering provider of long-term medical care, also in the UAE. The enlarged company received almost 4.3 million patients in 2016. The Group is also a leading UAE supplier of products and consumables across several key market segments, with the major contribution coming from healthcare related products. The Group reported revenues of US$1,220.8 million for the year ended 31 December 2016.
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In April 2012 NMC was listed on the Premium Segment of the London Stock Exchange. NMC is a constituent of the FTSE 250 Index.
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