NMC Health Plc Group Strategy & Trading Update (8555Z)
December 20 2017 - 2:00AM
UK Regulatory
TIDMNMC
RNS Number : 8555Z
NMC Health Plc
20 December 2017
20 December 2017
NMC Health plc
(the "Company" or "NMC")
H2-17 GROUP STRATEGY & TRADING UPDATE
H2-17 Operational performance in line with expectations; outlook
for 2018 remains positive
NMC Health plc (LSE: NMC) the leading integrated healthcare
provider operating across the United Arab Emirates, is pleased to
announce that operations during H2-17 have continued to perform in
line with expectations. Consequently, the Company remains
comfortable with the full-year guidance provided for FY17, which
was reiterated during the H1-17 results conference call. NMC also
maintains a positive outlook for FY18, supported by improving
efficiencies at existing facilities, as well as new growth avenues
available to the Company both within and outside UAE.
In order to properly capitalize on new growth opportunities, NMC
is updating the Growth Strategy framework outlined in 2015.
Augmenting our core strategy
NMC's strategy encompasses three distinct phases: Capacity
growth, Capabilities focus and Geographic expansion. While
maintaining a firm focus on these three key tenets, NMC's updated
strategy is aimed at enhancing the depth and breadth of our
existing infrastructure. The augmented Growth Strategy entails:
1) Addition of new verticals: NMC intends to add new healthcare
verticals, focusing on highly underserved segments in the UAE, as
well as the wider GCC. Furthermore, the Company continues to
develop its underlying Centers of Excellence, with the potential
for some to be upgraded to new verticals in the medium term.
2) Targeting wider emerging markets: After successfully growing
its geographic footprint outside the UAE, NMC is now expanding its
target market focus from the GCC to wider emerging markets for the
healthcare business. The Distribution business will continue to be
focused on the UAE.
3) Fertility to be developed as a global business: NMC's
fertility business remains the only exception within the healthcare
segment, as it will continue to be developed globally. Given the
nascent stage of the fertility sector around the world, both
developed and emerging markets offer substantial growth
opportunities. As the world's second largest player in the
fragmented IVF market, NMC's strategy of developing an
institutionalized business makes it a prime candidate to become a
global consolidator.
4) Rapid adoption and deployment of technological innovation:
NMC aims to embrace technological disruption instead of becoming
disrupted by it. A number of innovative projects are already under
way that will 1) add new services (which were not achievable
previously without new technology), 2) improve patient experience
and 3) improve operational efficiencies. NMC is developing a robust
innovation structure and will not rely on acquisitions alone.
Prasanth Manghat, Chief Executive Officer, commented:
"Having made considerable progress on all the goals we set for
ourselves in 2015, our updated strategy lays out a clear roadmap
for continued growth. We successfully enhanced the level of
complexities offered at NMC's facilities through both organic and
inorganic expansion, established a firm foothold in Saudi Arabia
and the broader GCC and continue to establish Centers of Excellence
in key specialties within existing hospitals. As our business
grows, we are looking to add complexities in the form of new
verticals, enter exciting new markets and deeply integrate
technology to expand the very boundaries of the healthcare
sector."
Analyst and investor conference call
A conference call for analysts and investors will take place
today, Wednesday 20 December 2017, at 17.00 UAE / 13.00 GMT.
Enquiries:
NMC Health plc
Prasanth Manghat, Chief Executive Officer
+971 (0)50 522 5648
Prashanth Shenoy, Chief Financial Officer
+971 (0)56 3290545
Asjad Yahya, Investor Relations
+971 (0)56 2190975
Media:
FTI Consulting, London
Brett Pollard / Mo Noonan
+44 (0)20 3727 1100
FTI Consulting, Gulf
Shane Dolan
+971 (0)4 437 2100
About NMC Health
The NMC group (the "Group") is the leading private sector
healthcare operator in the United Arab Emirates, with a nation-wide
network of hospitals and operations in the country since 1975. The
Group currently operates or manages over 40 assets across 11
countries. NMC is also ranked as one of the top 3 in-vitro
fertilisation ("IVF") operators globally. The Group is also a
leading provider of long-term medical care in the UAE through its
subsidiary ProVita. Pursing an aggressive international expansion
program from 2016, the company now has over 35% of its licensed bed
capacity in the Kingdom of Saudi Arabia (KSA), where the company
has introduced long-term and multi-specialty care services. The
enlarged company received almost 4.3 million patients in 2016. The
Group is also a leading UAE supplier of products and consumables
across several key market segments, with the major contribution
coming from healthcare related products. The Group reported
revenues of US$1.2 billion for the year ended 31 December 2016.
In April 2012 NMC was listed on the Premium Segment of the
London Stock Exchange. NMC is a constituent of the FTSE 100
Index.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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