NMC Healthcare is FTSE 100 Top Performer After $250 Million Deals
UAE-based NMC Health was the best-performing company in the FTSE 100 Index on the London Stock Exchange on Thursday, following an announcement of major deals in the UAE and Saudi Arabia.
Shares in the healthcare company, listed as NMC.L, rose by 4.5 percent to £30.80 after the company acquired the outstanding 49 percent minority stake in Fakih IVF for $205 million, having originally bought a 51 percent stake from founder, Dr Michael Fakih, in 2015.
It said it now plans to continue to expand its fertility network - from the new IVF clinics opened in UAE and Oman last year, with additional expansion planned in other countries, particularly Saudi Arabia.
The company also announced the acquisition of the outstanding 30 percent minority stake in As Salama Hospital for a price of $45 million. NMC Health bought 70 percent of As Salama Hospital in 2016.
The company statement, cited by state news agency WAM, also announced the completion of two deals in Saudi Arabia, originally announced last September - a 60 percent stake in the Al Qadhi Hospital in Najran and a 100 percent stake in the Al Rashid Hospital in Ha’il, for a total price of $40 million.
Source: Arabian Business
NMC Healthcare is the largest private healthcare company in the UAE and ranks amongst the leading fertility service providers in the world. Over the last forty three years, NMC has earned the trust of millions, thanks to its personalized care, genuine concern and a sincere commitment to the overall well-being of the patient.
NMC was the first company from Abu Dhabi to list on the London Stock Exchange and is now part of the premium FTSE 100 Index, an elite club of top 100 blue-chip companies by market cap. NMC's strategic acquisitions coupled with its legacy institutions have allowed us to fill the service gap in our healthcare delivery system and offer a continuum of care to patients