NMC Health Plc Abu Dhabi regulatory and trading update (8020D)
May 02 2017 - 1:01AM
UK Regulatory
TIDMNMC
RNS Number : 8020D
NMC Health Plc
02 May 2017
2 May 2017
NMC Health plc
(the "Company" or "NMC")
Abu Dhabi regulatory announcement and trading update
NMC Health plc (LSE:NMC), the leading integrated healthcare
provider operating across the United Arab Emirates notes the recent
statements made by His Highness Sheik Mohamed bin Zayed Al Nahyan,
Crown Prince of Abu Dhabi and Deputy Commander of the UAE Armed
Forces and subsequent confirmation by the Health Authority of Abu
Dhabi ("HAAD") to NMC on 27 April 2017, regarding regulatory
changes to Thiqa cardholders in Abu Dhabi, effective
immediately:
-- The removal of the 20% co-payment on services accessed by
Thiqa cardholders at private Abu Dhabi healthcare facilities;
-- Reduction in the co-payment for services accessed by Thiqa
cardholders outside of the Emirate of Abu Dhabi from 50% to 10%;
and
-- Removal of IVF related restrictions
As previously communicated, NMC's Long-term & Home Care
vertical was exempt from the changes made to the co-payment on
services.
NMC expects these changes to positively impact its entire
healthcare portfolio. In particular, NMC Royal Hospital, Al Zahra
Hospital and Fakih IVF are anticipated to be key beneficiaries of
the revised regulations. NMC now expects full year EBITDA to be
towards the top end of the current guidance range of USD
335-350mn.
Enquiries:
NMC Health plc
Prasanth Manghat, Chief Executive Officer
+971 (0)50 522 5648
Suresh Krishnamoorthy, Chief Financial Officer
+971 (0)50 591 5365
Asjad Yahya, Investor Relations
+971 (0)56 219 0975
Media:
FTI Consulting, London
Matthew Cole
+44 (0)20 3727 1101
FTI Consulting, Gulf
Shane Dolan
+971 (0)4 437 2100
About NMC Health
The NMC group (the "Group") is the leading private sector
healthcare operator in the United Arab Emirates, with a nation-wide
network of hospitals and operations in the country since 1975. The
Group currently operates or manages eight hospitals, two day-care
patient centres, nine medical centres and fifteen pharmacies. In
addition, the Group owns and operates Clinica Eugin in Barcelona,
Spain - one of the leading fertility treatment centres globally.
NMC also owns a 51 per cent. shareholding in Fakih IVF Group, the
Middle East market leader for in-vitro fertilisation ("IVF")
services. Moreover, NMC also owns and operates Americare Group, the
leading home care provider in the UAE as well as ProVita, the
pioneering provider of long-term medical care, also in the UAE. The
enlarged company received almost 4.3 million patients in 2016. The
Group is also a leading UAE supplier of products and consumables
across several key market segments, with the major contribution
coming from healthcare related products. The Group reported
revenues of US$1,220.8 million for the year ended 31 December
2016.
In April 2012 NMC was listed on the Premium Segment of the
London Stock Exchange. NMC is a constituent of the FTSE 250
Index.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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