Dubai – Mubasher: UAE-based NMC Health could implement up to $800 million acquisitions without taking fresh facilities, CEO Prasanth Manghat told Reuters.
The healthcare company’s balance sheet will bolster its strategy, he added, pointing out that NMC has around $600-700 million in unused facilities, as well as cash.
The London-listed firm is looking forward to growing in Saudi Arabia, Dubai and Oman, Manghat noted.
The company also said that its acquisitions in 2018 may exceed the $641 million it spent in 2017.
In 2017, NMC has acquired Al Zahra Hospital in Sharjah for $322 million.
NMC Health also reported a 38.2% surge in net profit for 2017 to reach $209.2 million.
The healthcare sector in the GCC region is growing due to the increasing number of wealthy population who are more vulnerable to lifestyle diseases such as diabetes and obesity.
NMC, listed on the Financial Times Stock Exchange 100 Index (FTSE), manages more than 125 assets in 13 countries.
