NMC Health, an integrated private healthcare provider in the GCC region, has signed a new operations and management contract with Emirates Healthcare, owned by an investment group based in Abu Dhabi. According to contract NMC Health will manage the healthcare assets of the investment group, comprising three brands.
* Emirates Hospitals and Clinics provide General medical services across six emirates in the UAE
* CosmeSurge provides cosmetic medical services in the UAE and the United Kingdom
* Emirates Rehab and Homecare Services provides home nursing, rehabilitation, therapeutic care and home-based care and operates in the UAE, Slovakia and Oman
Emirates Healthcare is a subsidiary of KBBO group. ”The reputation of NMC has prompted us to sign the contract for managing our healthcare assets. We look forward to the future of these assets with great anticipation,” said Yazen Abu Gulal, Chairman of Emirates healthcare.
“The reputation of NMC Health informed our decision to sign over the management of Emirates Hospitals and Clinics, CosmeSurge and Emirates Rehab & Homecare Services. With this signing, we look forward to the future of these assets with great anticipation,” added Yazen Abu Gulal, CEO of KBBO Group and Emirates Hospital Chairman.
NMC Health is now managing multiple private and public sector health care facilities across varied geographies, with total annual revenues from operations and management verticals set to reach $19 million (Dh69.7 million), the company said in a statement.
The company’s contract to manage the 205-bed Sheikh Khalifa General Hospital in Umm Al Quwain was extended for a further five-years. The original contract was the first ever awarded by a government department to a local UAE business to manage a large government healthcare facility. It demonstrated the confidence in NMC’s significant healthcare experience and capabilities, the company said.
Revenues rise
Meanwhile, NMC Health has reported a revenue increase of 34 per cent to $775.2 million during the first half of 2017, compared to first half of 2016 which amounted to $578.3 million.
NMC Health produced strong performance in H1, 2017 with good progress seen across all parts of the group. Its newly opened facilities continue to ramp-up well and the group’s acquired businesses are benefitting from both improved performance and the commencement of planned integration projects, the company said.
“Our long-term growth strategy, predicated on capacity and then capability focussed growth, continues to accelerate our expansion into more complex medical, and thus higher value added, specialty healthcare segments. The subsequent establishment of new strategic multi-brand verticals is enabling us to unlock synergies within the enlarged group, delivering significantly improved growth for the NMC group despite the continuing more moderate macro environment in our primary market of the UAE,” it said.
