NMC Health, the London-listed and UAE -based health care provider, said on Saturday its shareholder Centurion Investments had raised its stake in NMC by 4.9 per cent.

Centurion Investments has acquired 10 million shares, representing 4.9 per cent of the issued capital of NMC from B.R. Shetty, also a shareholder in NMC, a company statement said.

The shares were acquired at a price of £23.20 per share.

Privately owned Centurion Investments and Shetty jointly hold 59.77 per cent of the issued share capital of NMC, the statement said, adding that Shetty, as joint non-executive chairman, will remain a significant shareholder with a 19.44 per cent interest in NMC.

Centurion holds 40.33 per cent shares in the company.

NMC, founded by billionaire entrepreneur Shetty, is one of the largest private sector health care providers in the UAE. It operates general and specialist hospitals, pharmacies and medical centres across the UAE and plans to expand across the Gulf.

In March this year, NMC announced Shetty was stepping down from his position as chief executive to pursue other interests.