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NMC Health Share Discussion Threads
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|NMC Health profits surge 76.5pc to $151m
NMC Health, a leading integrated private healthcare provider in the UAE, has reported a net profit of $151.4 million for 2016, a 76.5 per cent increase on previous year’s figures.
The group’s revenues increased by 38.6 per cent to $1,220.8 million, it said in a statement.
NMC Health is also one of the top global providers of fertility treatments through its Spanish subsidiary Clinica Eugin.
The healthcare division accounted for a revenue of $823.3 million, an increase of 59.2 per cent compared to 2015. The distribution division revenue grew by 9.8 per cent to $431.9 million.
The reported EBITDA increased by 63.7 per cent to $246.1 million, it said. The earnings per share (EPS) amounted to $0.711 (FY 2015: $0.443)
The healthcare division’s number of patients increased by 34.5 per cent to 4.3 million and revenue per patient from healthcare services increased by 28.3 per cent to reach $176.3.
Operational beds increased from 537 to 679, a 26.4 per cent increase and bed occupancy rates reached 74.3 per cent.
Doctors’ employed by the group reached 1042 in 2016, an increase of 27.5 per cent compared to 2015.
Dr B.R. Shetty, chief executive officer and executive vice-chairman of NMC, commented: “NMC Health delivered record growth in 2016 as we began to reap the long-term rewards of several years of progress on the two stages of our growth strategy. In recent years NMC has expanded its asset and brand portfolio organically and inorganically into additional healthcare services segments, extended our presence across the continuum of care, entered into higher growth and margin specialties with very favourable regional supply/demand dynamics, and selectively entered new geographies to position the group at the intersection of multiple growth channels to the ultimate benefit of all our stakeholders.”
“We expect another good year for the UAE economy in 2017 supported by further GDP growth of around 2.3 per cent despite lower oil prices, based on forecasts by leading rating agencies. For the local healthcare sector, one of the key drivers of growth will be the increase in the patient volumes with expected completion of mandatory healthcare insurance in the Emirate of Dubai by Q1 2017. For NMC in particular, we expect continued strong performance from our enlarged network, its growing specialisms and the further introduction of higher value added services especially through our single specialty verticals,” said Dr Shetty.
- TradeArabia News Service|
|Wants to go higher .......... nice chart|
|Let us hope £18 breach today|
|Buy and hold paying off handsomely here. Run your winners long term imo.|
|Nice and Up.|
|Nice and steady|
|HSBC lifts target from 1460p to 1800p.|
|Seems to be heading north.Nice|
|Nice breakout; and strong into the close, too - augurs well, I think.|
|It is now.|
|New ATH I think.|
|Yes, me too. Good luck. £21/22 poss within a year.|
|Hi folks. I took a position here yesterday.
I thought 1500p looked a significant hurdle to have cleared.|
|Jefferies reiterate BUY. Ups target by 105p to 1930p.|
|Thanks, was out all day.|
|NMC Health plc
(the "Company" or "NMC")
Proposed acquisition of the Al Zahra Hospital for AED 2,058 million (approximately US$560 million)
Strategic, accretive acquisition adds one of the largest private hospitals in the UAE and helps accelerate NMC's presence in the growing Sharjah healthcare market
-- NMC Health plc (LSE:NMC), the leading integrated healthcare provider operating across the United Arab Emirates (the "UAE"), is pleased to announce the proposed acquisition (the "Acquisition"), subject to certain conditions and approvals, of Al Zahra Hospital in Sharjah (the "Al Zahra Hospital") from Gulf Medical Projects Company ("GMPC") for AED 2,058 million (approximately US$560 million).
-- The Al Zahra Hospital is one of the largest private hospitals in the UAE, operating 137 active inpatient beds, serving approximately 400,000 outpatients and 23,000 inpatient bed days per year.
-- The Acquisition complements the NMC group's (the "Group") existing network of seven out-patient medical centres in Sharjah, the third most populated emirate in the UAE, to further strengthen the Group's position as the largest private healthcare provider in the UAE and in the Gulf Cooperation Council (the "GCC") region.
-- The Al Zahra Hospital has demonstrated a strong track record of growth and for the year ended December 2015 achieved revenue, EBITDA and net profit of US$130.4 million, US$43.5 million and US$38.8 million respectively.
-- The Directors of NMC (the "Directors") have identified approximately US$6.5 million of annual cost synergy benefits from the second year post completion of the Acquisition onwards. In addition to these initial cost synergy benefits, the Directors believe that there are a number of other operational and synergistic benefits that will accrue over the medium term.
-- In recent years, GMPC has invested significantly in the Al Zahra Hospital, including the addition of a new 17 storey block and three new operating theatres at a cost of US$33 million. The Directors believe that the recent investment in the 17 storey block will drive revenue growth over the medium and longer term as the additional added capacity drives increased patient numbers. In the future, the Directors believe that the Al Zahra Hospital has the ability to expand its capacity to approximately 200 beds with limited incremental investment required.
-- The Acquisition is conditional, inter alia, on shareholder approval. As part of the financing of the Acquisition, the Company is undertaking a Placing of up to 9.99 per cent. of the issued share capital of the Company, as separately announced, and has also put in place new debt facilities.
-- The Company has continued to see positive trading since its interim results announcement. The Directors reiterate the Company's standalone 2016 EBITDA guidance of approximately US$240 million.|
|if I am right the regulatory changes has been around since June this year and this is nothing new. People may have to pay more for their health care but they still need their health care. Investors should stay calm and trust the good records of this stock imo.|
|Their concerns over regulatory changes in Abu Dhabi re long term care.|
|Yes, downgrade. No idea, will try to find out rationale.|
|It has been going down all day today. Could this be to do with JP Morgan's 1420p target today, and how did they come up with such a target price. Anyone has other news??|