London: UAE-based NMC Health was the best-performing company in the top-rank FTSE 100 Index on the London Stock Exchange yesterday, following an announcement of two major deals in the UAE, worth a total of $250 million (Dh918 million), and the completion of two deals in Saudi Arabia.
Shares in the company, listed as NMC. L, rose by 4.5 per cent to £30.80.
In the UAE, NMC Health acquired the outstanding 49 per cent minority stake in Fakih IVF for $205 million, having originally bought a 51 per cent stake from the company’s founder, Dr Michael Fakih, in 2015. It now plans to continue to expand its fertility network, from the new IVF clinics opened in UAE and Oman last year, with additional expansion planned in other countries, particularly Saudi Arabia, to maintain a market leading position, a company statement said.
The second UAE deal was the acquisition of the outstanding 30 per cent minority stake in As Salama Hospital for $45 million. NMC Health bought 70 per cent of As Salama Hospital in 2016.
The company statement also announced the completion of two deals in Saudi Arabia, originally announced last September, a 60 per cent stake in the Al Qadhi Hospital in Najran and a 100 per cent stake in the Al Rashid Hospital in Ha’il, for a total consideration of $40 million.
