Text size:

  • Small
  • Normal
  • Large

NMC prepares for new centre opening

NMC Healthcare, the London-listed Abu Dhabi based hospital operator, will open a new facility in the capital within days.

NMC Healthcare, the London-listed Abu Dhabi-based hospital operator, will open a new facility in the capital within days.

The company suffered "final regulatory delays" with the new day patient centre in Mussafah, but NMC is now almost ready to open it.

The facility is one of several NMC centres under construction. It currently operates eight across the UAE.

Brightpoint Women's Hospital in Abu Dhabi, which will be the capital's first private maternity hospital offering a range of services from gynaecology to neonatology, is due to open in the third quarter.

Work to fit out Dubai Investment Park General Hospital, which is due to be completed by the end of the year, is also under way.

And construction groundwork is progressing at the site of the new Khalifa City Speciality Hospital, which is scheduled to open late next year.

All projects remain on budget, and all existing healthcare facilities started the year well, according to the company.

Group revenue at NMC was up 11 per cent in the first quarter to US$139 million.

Revenue in the healthcare division also rose by 11 per cent to $70.4m in the period.

Business was also up in the distribution division, where revenue increased by more than 10 per cent to $77.3m.

"We are trading in line with expectations so we are very happy," said Prasanth Manghat, the chief financial officer of NMC.

"In Q1 we have seen the business getting the benefit of the positive macroeconomic conditions of the UAE. We are very much buoyed that we will be able to grow in the year 2013 as we did in 2012," he added.

Healthcare occupancy rates increased to 64 per cent in the first three months of the year, compared with 55.7 per cent in the same period the previous year. The increase was despite a 13.5 per cent increase in the number of beds in the first quarter.

Dr BR Shetty, the chief executive of NMC, said the company made a strong start to the year.

"Occupancy levels in the healthcare division continue to increase driven by a strong demand for our services in the region. The distribution division continues to perform well in good macro-economic conditions in the UAE," he said.

The company said it did not expect that new rules to reduce the price of more than 6,600 different medicines in Abu Dhabi by up to 40 per cent would much affect its bottom line.

"We have undertaken an initial analysis of the effect that the Ministry of Health announcement may have on both the pharmacy and distribution businesses," said the management statement.

"Based on the relative sizes of both the distribution division and the pharmacy business, we expect that this new pricing structure will have a minimum effect."



Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Above, the private pool of Ocean Heights' five-bedroom penthouse flat. Courtesy Christie’s International Real Estate

In pictures: Penthouse flat is height of Dubai luxury living

A five-bedroom penthouse in Ocean Heights in Dubai Marina is on sale for Dh25 million and comes with a private pool and an unparalleled view of Dubai.

 The cooling towers of the Temelin nuclear power plant near the Tyn nad Vltavou in Czech Republic. The country wants to continue expanding nuclear energy capacity despite cancelling a tender to build two new units. David W Cerny / Reuters

In pictures: Best business images for the week to April 17, 2014

Here are some of the best business images for the week to April 17, 2014.

 Three generations of the Hakimi family tend to their stall Crawford Market in Mumbai. Subhash Sharma for The National

In pictures: Shopper’s delight at Crawford Market in Mumbai

Crawford Market is an old British-style covered market dealing in just about every kind of fresh food and domestic animal imaginable. Later on renamed Mahatma Jotirao Phule, the market remains popular among locals and visitors by its old name, taken from Arthur Crawford who was the first municipal commissioner of the city.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National