Full year group revenue rises 10.5 per cent at NMC Health

Group revenue rose 10.5 per cent to 490.1m dollars in the full year to December 31st at NMC Health, the healthcare provider operating across the United Arab Emirates.

Group revenue rose 10.5 per cent to 490.1m dollars in the full year to December 31st at NMC Health, the healthcare provider operating across the United Arab Emirates.

In a financial report for the full year, the group reported that revenue in the healthcare division was up 15% to $251.6m compared with the full year 2011. This was driven principally by occupancy levels, which were up 750 bps to 60.5% compared with the full year 2011.

Distribution revenue was up 7.0% to $271.1m principally driven by continued expansion of product lines.

EBITDA (earnings before interest, tax, depreciation and amortisation) was up 12.9% to $79.6m compared with the full year 2011.

Business highlights for the year included the completed acquisition of BR Medical Suites in Dubai for a cash consideration of $9.0m. The company was also awarded a five year contract to manage the Sheikh Khalifa General Hospital in Umm Al Quwain.

Dr Shetty, Chief Executive Officer of NMC Health, commented: "This has been a pivotal year for NMC Health, and we are proud to have been the first Abu Dhabi-based business to list on the Premium Segment of the London Stock Exchange.

"Our full year results show that we have made strong progress across our existing facilities during 2012. 2013 will again be a year of transformation as we expect to open three of the four capital projects, which we committed to as part of our IPO, and which will help drive our future growth."

NMC Health's share price was up 0.37% to 270p at 12:43 on Tuesday.

MF

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