23 Aug 2017 07:15
23 August 2017
NMC Health plc
(the "Company" or "NMC")
New O&M Contract
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:
· 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
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.
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.
Enquiries:
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
Media:
FTI Consulting, London
Brett Pollard / Mo Noonan
+44 (0)20 3727 1100
FTI Consulting, Gulf
Shane Dolan
+971 (0)4 437 2100
About NMC Health
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.
In April 2012 NMC was listed on the Premium Segment of the London Stock Exchange. NMC is a constituent of the FTSE 250 Index.