UAE-based NMC Health, which joined the UK’s FTSE 100 list of the companies with the highest market capitalisation last September, has $2 billion of funding available for investments and acquisitions in the coming years, and expects another profitable year in 2018 as it expands its operations globally, its chairman said.
“I have $2bn at my disposal to acquire companies as and when we can get them,” BR Shetty, who is also the founder of NMC Health, told The National. “For the want of money we will not eject anybody. We are waiting for a good chance.”
NMC is in negotiations with several parties and expects deals to be announced before the end of the year. Africa is a “good opportunity”, Mr Shetty said, as are Turkey, Europe, America, and the UK – which NMC hopes to enter by 2019. The company prefers to acquire “running hospitals that require funding and our assistance, for example through a management contract”, rather than greenfield projects - building a new hospital from scratch - which takes a long time, he added.
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