NMC Health

NMC Health
Public
Traded as LSE: NMC
FTSE 100 Component
Industry Health
Founded 1974
Headquarters Abu Dhabi, United Arab Emirates
Key people
 Prasanth Manghat (CEO and Executive Director)
Dr BR Shetty (Joint Non-Executive Chairman)
Mark Tompkins, (Chairman)
Revenue $1,603.4 million (2017)[1]
$273.5 million (2017)[1]
$209.2 million (2017)[1]
Website www.nmchealth.com

NMC Health (Arabic: مستشفى المركز الطبي الجديد‎) is a healthcare chain and distribution business in the United Arab Emirates (UAE). The company is headquartered in Abu Dhabi and has branch offices in Dubai, Ajman, Al Ain and Northern Emirates. NMC Health is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.[2]

History

NMC Health was founded by B R Shetty in 1974 as the "New Medical Centre" in Abu Dhabi.[3] 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 and supplies and educational products.[4]

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) and NMC Specialty Hospital in Al Ain (2008). In 2009, these hospitals were awarded the JCIA accreditation.[5] In April 2012 , NMC listed on the London Stock Exchange.[6][7] That same year, NMC began managing operations at the Shiekh Khalifa General Hospital in Umm Al Quwain, acquired the BR Medical Suites in Dubai Healthcare City and continued their expansion with the addition of new medical setups at Royal Hospital in Khalifa City Hospital and operations in Al Ain's industrial area.[8] In 2013, the company added a day-surgery centre in Mohammed Bin Zayed city, Abu Dhabi. NMC Health opened theNMC Hospital in Dubai Investments Park, NMC Brightpoint Royal Women's Hospital, and the NMC Medical Centre in Al Ain in 2014.[5]

NMC Health acquired the Spain-based Clínica Eugin in 2015, allowing the company to become the leading integrated women's health provider from fertility through obstetrics and pediatrics in the UAE.[9] That same year, the company also acquired UAE based medical groups, Dr.Sunny Healthcare Group (leading set of medical clinics in Sharjah and Northern Emirates), Provita and Americare Group, Abu Dhabi (focused on long-term care and rehabilitation)[10] and acquired a 51% stake in Fakih IVF, another leading fertility clinic in UAE.[11] In March 2016, NMC Health opened the largest private sector hospital in the UAE in Khalifa City, Abu Dhabi called NMC Royal Hospital.[12] In August 2016, the company expanded its operations into Saudi Arabia when it acquired a 70 percent stake in As Salama Hospital in Al Khobar, NMC Health also invested in a project to build a 120 bed care centre in Jeddah that will be managed by its subsidiary Provita.[13][14] In December 2016, NMC Health announced the acquisition of Al Zahra Hospital, one of the largest private hospitals in the UAE.[15]

Operations

NMC Health operates two business segments, healthcare distribution and services. The healthcare arm operates an international network of hospitals around the UAE and Europe. It is the largest private healthcare provider in the UAE and provides medical services including diagnostics, outpatient clinics, gynecology, obstetrics, human reproduction and pharmacy retail.[16] In 2017, it operated more than 45 locations and more than 15 pharmacies, and employed over 1,200 doctors who saw more than 11,000 patients daily.[17][18] NMC Health's distribution and services arm operates the subsidiary, NMC Trading, which engages in wholesale trading of pharmaceuticals, medical equipment, food and cosmetics.[19] NMC Trading has distribution rights for companies such as, Nestlé, Pfizer, Siemens, Samsung, Sanofi and Henkel.[17]

Recognition

NMC Health has been recognized as one of the UAE's strongest brands by the Superbrands Council since 2015. That same year, the company received the Frost & Sullivan Middle East Integrated Healthcare Company of the Year Award and a Sheik Khalifa excellence award amongst others.[20] The company was recognized for best practices in corporate social responsibility by the Dubai Chamber of Commerce and Industry in 2016.[21] That same year, NMC Health received Stevie Awards in the Company of the Year in the Health Products and Services and Pharmaceuticals category and people's choice for favorite companies.[22] In 2017, NMC Specialty Hospital and NMC Trading both received Mohammed bin Rashid Al Maktoum Business Excellence Awards.[23] It has been selected by the Abu Dhabi National Oil Company (ADNOC) to manage operations of Ruwais Hospital in the Al Dhafra region.[24][25]

References

  1. 1 2 3 "Preliminary Results 2017" (PDF). Retrieved 11 March 2018.
  2. ↑ "Gulf private hospitals group NMC eyes UK launch after leap into FTSE 100". The Telegraph UK.
  3. ↑ Focus on quality medical service for all. Gulfnews.com article on BR Shetty.
  4. ↑ "NMC Trading wins Nivea award". Trade Arabia. 21 April 2008. Retrieved 11 March 2018.
  5. 1 2 "New Medical Center UAE | NMC Healthcare Milestones United Arab Emirates". NMC. Retrieved 2016-02-28.
  6. ↑ UAE-based NMC Health plans London IPO London and South East, 8 March 2012
  7. ↑ Wigglesworth, Robin (April 2, 2012). "UAE Health Group Raises £117m in London IPO". Financial Times.
  8. ↑ "NMC to expand health division with new hospital in Al Ain". The National. 21 August 2013. Retrieved 10 April 2016.
  9. ↑ "NMC Health PLC announces the acquisition of leading global fertility centre". London Stock Exchange. Retrieved 5 August 2015.
  10. ↑ "NMC spends almost $100 million to acquire two new health groups | The National". www.thenational.ae. Retrieved 2016-02-28.
  11. ↑ "NMC taps UAE fertility market with 51% stake in Fakih IVF Group | The National". www.thenational.ae. Retrieved 2016-02-28.
  12. ↑ "$200 Million NMC Royal Hospital Opens in Abu Dhabi". Emirates 24/7. 7 March 2016. Retrieved 9 November 2016.
  13. ↑ Sahoo, Sananda (29 August 2016). "Abu Dhabi-Based NMC Health Invests $32 Million In Saudi Healthcare Projects". The National. Retrieved 9 November 2016.
  14. ↑ Bradshaw, Julia (30 August 2016). "Emirati Hospital Group NMC Enters Lucrative Saudi Arabian Healthcare Market". The Telegraph. Retrieved 9 November 2016.
  15. ↑ Everington, John (14 December 2016). "NMC Health Makes Offer for Al Zahra Hospital". The National. Retrieved 10 April 2017.
  16. ↑ "NMC Health PLC". Reuters. Retrieved February 16, 2017.
  17. 1 2 "NMC Healthcare in 10 Facts". Middle East Business Review. 31 August 2016. Retrieved 16 February 2017.
  18. ↑ Townsend, Sarah (17 July 2017). "UAE's NMC Health Eyes 25% Growth in 2017, Says New CEO". Arabian Business. Retrieved 18 July 2017.
  19. ↑ "NMC Health PLC". The Wall Street Journal. Retrieved February 16, 2017.
  20. ↑ "SKEA Winners". Sheikh Khalifa Excellence Award. Retrieved November 28, 2016.
  21. ↑ "NMC Specialty Hospital-Dubai Has Won the Prestigious Dubai Chamber CSR Label-2016". NMC Health. 26 October 2016. Retrieved 9 November 2016.
  22. ↑ "Company/Organization Awards Winners". The International Business Awards. Retrieved 8 November 2016.
  23. ↑ Diaa, Sarah (21 February 2017). "Mohammad Bin Rashid Business Award Winners Announced". Gulf News. Retrieved 11 April 2017.
  24. ↑ "Adnoc awards Ruwais Hospital operations to NMC Healthcare". Gulf News. March 1, 2018.
  25. ↑ "ADNOC picks UAE healthcare operator to run Ruwais Hospital". Arabian Business. 1 Mar 2018.
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