NMC Health reports organic growth in revenues for H1 2018

NMC Health, a private healthcare operator in the Gulf Cooperation Council, GCC, has announced its financial results for the six months ended 30 June 2018.

According to a statement, the healthcare group reported revenues increased by 20.2 percent YoY to US$932.0 million, with organic growth accounting for 13.4 percent of this increase.

EBITDA margin increased by 220bps to 24.2 percent as EBITDA growth (+32.1 percent to US$225.5m) continues to outpace revenue growth Financial and operational performance during H1 2018 remained in line with expectations, with management maintaining positive outlook for H2 2018, the statement said, adding that healthcare continues to be the primary driver of growth with revenues up by 25.8 percent to $706.0m and Healthcare EBITDA up 34.0 percent to $226.8m.

Commenting on the results, Prasanth Manghat, NMC Health Chief Executive Officer, said, "The first half of 2018 saw NMC continue to demonstrate strong organic growth alongside complementary acquisitions, resulting in the realisation of improved financial results which more fully reflect the effect of previous integration and revenue enhancing activities. The benefits of scale, our mix of healthcare verticals and cross utilisation of assets and business streams is now starting to be reflected through enhanced revenue and improved efficiencies and margins."

Emirates News Agency (WAM) Contribution Time: 23-Aug-2018 06:26 (GMT)
Emirates News Agency (WAM) Last Update Time: 23-Aug-2018 06:26 (GMT)