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UAE healthcare giant eyes expansion outside of GCC region

Abu Dhabi's NMC Health also plans to go global with its fertility services in 2018
By Staff writer
Sat 23 Dec 2017 12:18 PM

NMC Health, the UAE's largest private healthcare provider, has announced plans for further expansion outside the Gulf region and into wider emerging markets.

The Abu Dhabi-based operator said it maintains a positive outlook for 2018, supported by improving efficiencies at existing facilities, as well as new growth avenues available to the company both within and outside UAE.

NMC said in a statement that it also intends to add new healthcare verticals, focusing on highly underserved segments in the UAE, as well as the wider GCC.

It added that fertility is to be developed as a global business, saying that both developed and emerging markets offer substantial growth opportunities to build on its position as the world’s second largest player in the fragmented IVF market.

The company said it also plans rapid adoption and deployment of technological innovation which will "improve patient experience and improve operational efficiencies".

Prasanth Manghat, CEO, said: "Having made considerable progress on all the goals we set for ourselves in 2015, our updated strategy lays out a clear roadmap for continued growth.

"As our business grows, we are looking to add complexities in the form of new verticals, enter exciting new markets and deeply integrate technology to expand the very boundaries of the healthcare sector.”

He added in an interview with Reuters: “We have an $800 million war chest available to us and see a lot of assets in the market that make sense for us. If you look at health care, there’s a shortage of quality of assets and from a usage point of view there’s a lot of assets.”

NMC Health was established in Abu Dhabi in 1975 and operates a network of more than 45 hospitals and other care facilities across eight countries including the GCC.

In September, NMC became the first company in the Middle East to be promoted to the UK's FTSE 100 index.

The FTSE 100 is an index composed of the 100 largest companies listed on the London Stock Exchange (LSE), and is traditionally seen as a good indication of the performance of major companies listed in the UK.

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Last Updated: Sat 23 Dec 2017 11:21 AM GST

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