Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 10 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
NMC Healthcare plans $800m investments during 2018
December 21, 2017
 Print    Send to Friend

DUBAI: UAE-based NMC Healthcare has $800 million, or Dhs2.94 billion, available to start investing in 2018 in the Gulf and other markets, its chief executive said in an interview.

The London-listed firm, which is among the beneficiaries from recent growth in the Gulf’s healthcare sector, plans to acquire hospitals and other facilities, as well as smaller investments in In-Vitro Fertilisation, IVF, facilities in Europe, said Prasanth Manghat.

“We have an $800 million war chest available to us and see a lot of assets in the market that make sense for us,” said Manghat. “If you look at health care, there’s a shortage of quality of assets and from a usage point of view there’s a lot of assets.”

The company’s main business has historically been within the UAE, where it has both built and acquired hospitals, including the acquisition in February of Al Zahra Hospital in Sharjah for $560 million.

He said he sees opportunities in 2018 from increased government spending in Abu Dhabi, mandatory health insurance reforms in Dubai and Oman and the privatisation of the healthcare market in Saudi Arabia.

The $800 million includes $500 million from cash and funded facilities and $300 million from the company’s balance sheet, he continued, adding that it might also consider issuing a bond to help fund any acquisitions.

WAM

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
DLD, TRA to regulate real estate ads in Dubai
DUBAI: The Dubai Land Department (DLD) and the Telecommunications Regulatory Authority (TRA) signed a memorandum of understanding (MoU) during GITEX Technology Week. T..
Philippine organisation of freight forwarders formed
DUBAI: Thirteen of 37 Filipino freight forwarding companies in the UAE have officially organised the League of Freight Forwarders (LFF). Interviewed ahead of the Oct. ..
Leading tech provider in MEA unveils expansion plans
DUBAI: The CIS Group, a leading technology provider in the Middle East and Africa (MEA) with an annual turnover of $400 million, announced the opening of its state-of-the..
Forum sees customer demands changing
DUBAI: Dell EMC on Wednesday hosted its Dell Technologies Forum in Dubai, UAE. Themed ‘Make it Real’, the one-day event brought together Dell Technologies’ seven technolo..
Ejadah registers strong growth, innovation
Dubai: Ejadah Asset Management Group (Ejadah), the principal Total Community Solutions Provider throughout the Middle East, has announced strong development in 2018 with ..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright