NMC Healthcare has emerged as the first Middle Eastern company to be listed on the prestigious FTSE 100 index, which is made up of the top 100 companies listed on the London Stock Exchange.
The FTSE 100 is the benchmark index of the London Stock Exchange.
The performance of the NMC Healthcare stock has been spectacular with the stock appreciating almost six times (600%) in the last 3 years, and almost doubling over the last year.
Last year, NMC revenues registered a surge of 38.6% to reach $1.2 billion, as profits grew by a staggering 69.4% to $165.2 million.
On August 23rd, the company announced Operation and Maintenance (O&M) contracts with three entities; Emirates Hospitals and Clinics, CosmeSurge, and Emirates Rehab and Homecare.
“Being among the FTSE 100 index solidifies NMC’s standards, demonstrating the overall performance and strengthening the firm’s reputation as an esteemed blue-chip company in the region,” H.E. Saeed M Bin Butti Al Qubaisi, the largest shareholder in NMC Health, said.
“I am particularly pleased to see NMC Health, a prestigious and recognized brand, perform at that level, standing among other leading international companies,” H.E. added.
Emirates Hospitals and Clinics is a general medical services provider with six headquarters across the UAE, while CosmeSurge offers cosmetic medical services in the Emirates with one clinic in the UK.
Emirates Rehab and Homecare is specialized in providing home-nursing, rehabilitation, therapeutic care and home-based care that operates in the UAE, Slovakia and Oman.
Founded by Dr. B.R. Shetty, as a small pharmacy and clinic in Abu Dhabi in 1974, NMC Healthcare is the UAE’s largest private healthcare provider, and have expanded globally to Saudi Arabia, Oman, Columbia, Brazil, Spain and Denmark.
Earlier this year, Dr. Shetty resigned from his executive role in the company, and is now the Co. Chairman of the group.
Prasanth Manghat is now the CEO and executive director and Dr. Shetty ‘s wife, Dr. C. R. Shetty, is the Group Medical Director.