Abu Dhabi: NMC Health, the Abu Dhabi-based healthcare provider expects strong growth this year as it posted a revenue increase of 36.8 per cent to $880.9 million in 2015. The group’s net profit increased by 10.6 per cent to $85.8 million, NMC said in a statement.
The group which runs a number of hospitals in the UAE said the ongoing adoption of mandatory healthcare insurance in Dubai and the expected increase in covered patients from one million to three million will be the key driver of growth for the local healthcare sector this year.
“Most specifically for NMC, we expect strong growth coming from our enlarged network, its growing specialities and the introduction of higher value added services especially through our single specialty verticals,” said Dr B.R. Shetty, Chief Executive Officer of NMC Health.
According to NMC, the number of patients increased by 34.3 per cent to 3.2 million in 2015. Operational beds went up by 287 beds to 537 beds and doctors employed in the hospitals reached 817, an increase of 35.5 per cent.
With an eye on expansion, the group has been acquiring medical centres and opening new hospitals. Last week, it inaugurated the UAE’s largest private sector hospital, the $200 million NMC Royal Hospital at Khalifa City in Abu Dhabi. The multispeciality hospital with a total built in capacity of 500 beds is expected to serve large number of residents living in and around Khalifa City.
It also announced the acquisitions of Americare Group, which is specialised in-home healthcare services in Abu Dhabi and Dr Sunny Healthcare Group which runs medical centres and pharmacies in Sharjah. In February this year, it has completed acquisition of 51 per cent shareholding in Fakih IVF Group, which offers in-vitro fertilisation services, according to the group.
It also bid for rival UAE-based healthcare provider Al Noor Hospitals but later withdrew due to valuation concerns.
