Abu Dhabi's NMC Healthcare in recovery mode, expects 2020 revenues of Dh5b plus | Banking – Gulf News
The UAE’s biggest private healthcare operator NMC is showing signs of a clear revival, with revenues now back to pre-COVID-19 levels. If this trend continues, NMC is looking at revenues of Dh5 billion plus this year.
The gains are led by its specialty clinics for IVF, cosmetics and long-term home care services. More important, NMC’s network of multi-specialty hospitals are now recording revenues that are “in line” with last year. This in itself is the biggest positive for the Abu Dhabi company after a harrowing 10 months that saw it being placed under administration by the courts and most of its previous management being replaced.
Plus, there was, of course, the missing billions of dollars from the NMC accounts.
“Due to the faster than anticipated revenue recovery from COVID-19, revenue year-to-date is 10 per cent versus the business plan,” a statement from the administrators issued to NMC’s creditors confirms. “Tighter cost control and the acceleration of performance improvement initiatives has resulted in EBITDA being well ahead of the business plan.” (EBITDA is earnings before interest, tax, depreciation and amortisation)
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