Type Public (LSE: NMC) Profit $151.4 Million (2016) Revenue 1.22 billion USD (2016) Net income 151.4 million USD (2016) | Industry Health Website www.nmchealth.com Founded 1975 | |
Headquarters Abu Dhabi, United Arab Emirates Key people Prasanth Manghat, (CEO)
Mark Tompkins, (Independent Non-Executive Chairman)
Dr BR Shetty (Joint Non-Executive Chairman) Profiles | ||
NMC Health (Arabic: مستشفى المركز الطبي الجديد) is a healthcare chain and distribution business in the United Arab Emirates (UAE). NMC Health is headquartered in Abu Dhabi, the capital of the UAE, and has branch offices in Dubai, Ajman, Al Ain & Northern Emirates. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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History
NMC Health was founded by B R Shetty in 1975 as the "New Medical Centre" in Abu Dhabi. This was expanded to a full-fledged hospital in 1981, to take advantage of the oil boom in the UAE. In 1981, a new marketing & distribution division, NMC Trading was launched, which distributed medicines to pharmacies in the UAE. This division would later expand into Distribution of Fast-Moving Consumer Goods, Medical Equipments & Supplies and Educational Products.
From 1996, NMC began expanding to other emirates, setting up the NMC Clinic in Sharjah (1996), NMC Hospital, Deira, Dubai (1999), the NMC Specialty Hospital, Dubai (2004) & NMC Specialty Hospital in Al Ain (2008). In 2009, these hospitals were awarded the JCIA accreditation.
In the 2010s, NMC Health has expanded further with an IPO, construction of new hospitals & new acquisitions In 2012 it became listed on the London Stock Exchange. In 2012, NMC acquired the elite BR Medical Suites in Dubai Healthcare City and continued their expansion with the addition of new medical setups at Brightpoint Royal Hospital in Abu Dhabi, Khalifa City Hospital and Al Ain's industrial area.
NMC health has made significant acquisitions, such as the Spanish Clínica Eugin in a move to become the leading integrated women's health provider from fertility through obstetrics and paediatrics in the UAE. They have also acquired UAE based medical groups, Dr.Sunny Healthcare Group (leading set of medical clinics in Sharjah & Northern Emirates), Provita & Americare Group, Abu Dhabi (focused on long-term care & rehabilitation) and acquired a 51% stake in Fakih IVF, another leading fertility clinic in UAE.
Operations
In addition to hospitals and clinics, NMC Health also has businesses interest in distribution and logistics. NMC Health sponsors a cricket team which won the Bukhatir League Cricket Tournament, the longest running in the UAE, in 2008 and previously in 1999.