3 Jan 2014 07:00
NMC Health Plc - 2013 Full-Year Trading Update
London, 3 January 2014: NMC Health Plc ("NMC") (LSE:NMC), the leading private sector healthcare provider operating across the United Arab Emirates, today provides a trading update for its 2013 financial year.
Trading Update
NMC expects to report results, in line with expectations, for the twelve months ended 31 December 2013. The net debt position, capital expenditure and operational cash flow are also anticipated to be in line with management expectations.
Projects update
NMC opened the Mussafah Day Patient Centre in July 2013 in close proximity to both the rapidly expanding Mohammad bin Zayed City (MBZC) suburb and the Mussafah industrial area of Abu Dhabi. The new facility is connected to a shopping mall and will cater to the growing local population for both outpatient consultancy services and minor surgical procedures. The facility will act as a referral point to our existing Specialty Hospital in central Abu Dhabi, some 35km away, and in the longer term to our new Khalifa City Hospital, some 10km away. We are pleased with progress and patient flow since opening.
Meanwhile, all our other projects including the Dubai Investment Park General Hospital, Brightpoint Women's Hospital, Al Ain Medical Centre and the Khalifa City Hospital are progressing towards their respective opening dates, as communicated earlier in 2013.
Dr B.R.Shetty, Chief Executive Officer, commented:
"I am pleased with NMC's growth over the past year in both our healthcare and distribution divisions. Management will continue to work towards increased efficiencies and operational gearing in existing operations and a smooth introduction of new assets.
The opening of our Mussafah Day Patient Centre in July 2013, was the first in a string of new near-term additions to our healthcare portfolio in the UAE. In 2014 we will see the opening of two hospitals and a medical centre, followed by the opening of our largest hospital in H1 2015.
Management and the team at NMC have worked very hard since the IPO to deliver this organic expansion program. Our strategy has been reinforced by the strong population and economic growth seen in the UAE over the past year and the recent adoption of mandatory healthcare insurance in Dubai. Consequently, I look forward to a rewarding 2014 for NMC and its shareholders"
Calendar
Full-year financial results for the twelve months ended 31 December 2013 will be issued on 25 February 2014. NMC will host an analyst/investor webcast on that day. Further details will be announced in due course.
Contacts
Investors:
Prasanth Manghat, Chief Financial Officer
Tel: +971 50 522 5648
Roy Cherry, Head of Strategy and Investor Relations
Tel: +971 50 667 0184
Media:
Brunswick London
Justine McIlroy/Azadeh Varzi
+44 20 7404 5959
Brunswick Gulf
Steve Martin Wajih Halawa
+971 5 6696 9232 +971 5 0100 9207