ABU DHABI: Abu Dhabi based NMC Health posted 72.6 per cent increase in net profit in the first half of 2016 to $70.5 million when compared to net profit of $40.8 million during the same period last year. Revenues increased by about 47 per cent to $578.3 million in the first half of this year compared to $393.8 million in the first six months of 2015.
The company attributed the strong performance to progress made by the company across the business and successful execution of two-stage strategy with a focus on expansion of the capacity to absorb market growth and building new capabilities through the acquisition of global and regional entities in the healthcare segment.
Dr B.R. Shetty, Chief Executive Officer of NMC said: “Despite record growth this year, we expect strong performance to continue going forward supported by the increased utilisation of our organic 485 bed capacity expansion over the past 18 months, recent acquisitions of businesses in high growth segments, very good performance at the major specialty hospitals and in particular Dubai based hospitals and medical centres as mandatory healthcare insurance penetration continues to expand.” NMC said total patient visits to group assets increased by 42.6 per cent to 2.11 million in the first half of 2016 when compared to 1.48 million in the first half of 2015.
