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Abu Dhabi, UAEMonday 10 December 2018

NMC Health makes first UK acquisition with Aspen Healthcare deal

UAE healthcare provider to acquire nine facilities across the UK

UAE-based NMC Health said it agreed to buy 100 per cent of the equity of UK-based Aspen Healthcare in its first ever UK acquisition. Silvia Razgova / The National
UAE-based NMC Health said it agreed to buy 100 per cent of the equity of UK-based Aspen Healthcare in its first ever UK acquisition. Silvia Razgova / The National

London-listed NMC Health said it agreed to acquire 100 per cent of the equity of Aspen Healthcare for £10 million – its first acquisition of a UK-based healthcare company.

“The acquisition provides NMC a very cost-effective means of introducing its fertility services to the UK,” the group said on Monday in a statement to the London Stock Exchange.

NMC Health acquired Aspen Healthcare from New York Stock Exchange-listed Tenet Healthcare Corporation. Under the deal, which is yet to complete, NMC will acquire Aspen’s network of nine facilities in the UK, including four hospitals, three of which are in Greater London and one in Edinburgh, as well as clinics elsewhere in the UK.

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Aspen is particularly recognised in orthopaedics and oncology, which represent 50 per cent of its revenues. “Both segments remain highly underserved in the UAE, thus offering the dual benefit of knowledge transfer and potential for patient referral to NMC’s own international facilities when the required medical treatment is unavailable in the country,” NMC Health said.

The company intends to finance the acquisition through cash resources and said it does not intend to invest in any other non-fertility based UK healthcare facilities, according to the statement.