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Sat 27 Oct 2018 10:35 AM

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UAE's NMC Healthcare upgrades 2018 revenue growth forecast

UAE healthcare firm says it expects to open new greenfield facilities, particularly in the UAE, in 2019

UAE's NMC Healthcare upgrades 2018 revenue growth forecast
UAE-based NMC Healthcare has announced an upgrade in projected revenue growth during 2018, from 22 percent to 24 percent.

UAE-based NMC Healthcare has announced an upgrade in projected revenue growth during 2018, from 22 percent to 24 percent.

In a regulatory announcement, the company attributed the increase to what it described as "positive developments in the second half of 2018", state news agency WAM reported.

"2019 guidance will also point towards continuation of strong organic growth on the back of sustained ramp-up at key facilities, integration and expansion of acquired entities as well as strong operational performance," the announcement said.

"Revenues are forecast to increase by 22-24 percent and EBITDA is expected to increase by 18-20 percent," the company added.

The company said that during 2019, it expects to open new greenfield facilities, particularly in the UAE, a continued ramp-up of various facilities in several countries and a full-year consolidation of Aspen Healthcare, a UK health provider acquired in August this year.

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