nmc targets saudi growth to keep ftse 100 slot
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

NMC targets Saudi growth to keep FTSE 100 slot

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today NMC targets Saudi growth to keep FTSE 100 slot

NMC targets Saudi growth to keep FTSE 100 slot
Abu Dhabi - Al Maghrib Today

NMC Health, the UAE-based health care provider, plans to expand in Europe and the Gulf to retain its recently won place in London's FTSE 100 blue chip index.
Next week NMC is set to become the only Middle Eastern company whose stock is a constituent of the prestigious benchmark, giving it access to a new and more stable investor base as well as exposure to greater shareholder scrutiny.
“The most important thing now is to continue performing and solidify growth that we’ve seen since we began acquiring assets in 2015,” NMC CEO Prasanth Manghat told Reuters.
A company needs to ensure that its market capitalization grows in order to stay in the index, unlike Jordan-based Hikma Pharmaceuticals which entered the FTSE 100 index in 2015 but was subsequently ejected after its share price slid.
Manghat said that NMC, which listed in London in 2012, would strengthen its position with further investment, using $500 million in cash and unused financial facilities.
“We will definitely look at opportunities to consolidate and grow in Europe, the UK and the Gulf,” he added.
NMC entered Europe by acquiring one fertility clinic in Spain and one in Italy and now has three in each country. It also has three such clinics in Brazil and one in Colombia.
“It is a very good business where, we believe, not many investments are coming. Corporatization of the IVF (fertility) business is our aim,” Manghat said.
NMC treated 2.88 million patients in the first half and growth in the Gulf’s health care sector is being driven by growing populations becoming more susceptible to lifestyle diseases such as diabetes and obesity.
While NMC is looking at further growth in the UAE, its main target market is Saudi Arabia where it made a first foray last year by building a new hospital and buying a stake in another.
NMC will invest in long-term care, fertility and general clinics across smaller cities in Saudi Arabia, Manghat said, adding that the firm was also bullish on Oman, where he hopes deals could materialize by the end of the year.
Saudi Arabia’s government has said it will welcome foreign investors in its healthcare sector to relieve a huge budget deficit resulting from low oil prices.
Although uncertainty remains about how Riyadh will regulate investment, Manghat said NMC could cope more easily with the high costs and sophisticated technology needed to run Saudi hospitals than smaller competitors.

Source: Arab News

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nmc targets saudi growth to keep ftse 100 slot nmc targets saudi growth to keep ftse 100 slot

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nmc targets saudi growth to keep ftse 100 slot nmc targets saudi growth to keep ftse 100 slot

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 15:17 2017 Thursday ,17 August

Three airlines jostling for Air Berlin assets: CEO

GMT 05:38 2017 Thursday ,06 April

ExxonMobil, Qatar Petroleum sign Cyprus gas deal

GMT 02:41 2016 Saturday ,24 December

Oil dips before holiday week; Libyan output boost weighs

GMT 11:31 2014 Thursday ,14 August

Kanye West's new single 'All Day' leaks online

GMT 10:43 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 08:27 2018 Friday ,05 January

US warns Iran to be held to account

GMT 09:17 2017 Saturday ,23 December

Ugandan army says it attacked rebel camps

GMT 01:57 2017 Saturday ,21 January

In Libya, Daesh down but not out

GMT 05:51 2012 Wednesday ,18 January

Shireen’s latest out soon

GMT 08:56 2017 Thursday ,26 October

Workplace harassment blights industries across board

GMT 17:51 2017 Wednesday ,25 October

Maxwell says refused service over kneeling for anthem

GMT 17:53 2016 Wednesday ,20 April

OIC slams Netanyahu 's statements on Golan Heights

GMT 14:41 2016 Tuesday ,19 January

2 Daesh members killed in Libya's Derna

GMT 21:51 2016 Monday ,29 February

Airstrike targets suspected Daesh convoy in Libya

GMT 21:18 2016 Tuesday ,15 November

Rare suicide attack south of Baghdad kills 8

GMT 17:56 2015 Thursday ,27 August

US journalist killings revive gun control debate
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday