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Wed 25 May 2016 06:31 PM

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UAE healthcare firm said to eye Gulf, Asia Pacific acquisitions

NMC Health says it has potential deal to enter Saudi Arabia within the next three to six months

UAE healthcare firm said to eye Gulf, Asia Pacific acquisitions

NMC Health Plc, the UAE-based healthcare company, is reportedly exploring acquisition opportunities in the Gulf and emerging markets in Asia Pacific.

According to Bloomberg, NMC Health is interested in entering Qatar and Saudi Arabia, with a potential deal in the kingdom seen within the next three to six months.

Deputy CEO Prasanth Manghat told Bloomberg that the company is also considering tapping the bond market for the first time.

"We are considering bonds," Manghat was quoted as saying. "It all depends on our pipeline during the year. If there are bigger acquisitions, then we may look at debt raising."

NMC, like a number of other healthcare companies, is benefiting from substantial growth in the UAE healthcare sector as an increasingly wealthy population becomes more susceptible to lifestyle diseases such as diabetes.

The company reported 2015 revenue and core earnings up 46 percent and 61 percent respectively.

NMC made five acquisitions last year, four in the UAE and one in Spain.

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