NMC Healthcare reports $611 million H1 revenue | Banking – Gulf News

NMC Healthcare reports $611 million H1 revenue | Banking – Gulf News

NMC Healthcare Ltd (NMC), the largest private healthcare company in the UAE, reported total revenues of $611 million for the first half of 2021, 10 per cent ahead of the business plan.

The Group ran into trouble last year after the disclosure of more than $4 billion in hidden debt left many UAE and overseas lenders with heavy losses.

“The first half of 2021 is like daylight compared to the dark nights of the first half of 2020. We have brought the company back from the brink of near total collapse to secure NMC’s future and to ensure that our ability to provide world-class patient care is preserved – through thick and thin,” said Michael Davis, Chief Executive Officer.

The number of patient encounters across the group has grown significantly to 4.4 million year-to-date as full operating capacity has returned in the wake of COVID-19.

In its ongoing efforts to support the UAE’s COVID-19 response, group administered 98,919 vaccinations and 1.7 million PCR tests in H1.

The ongoing programme of performance improvement initiatives – including workforce and operational efficiency improvements centrally as well as procurement savings across a variety of areas - has supported the delivery of EBITDA of $103.9 million during the half year, 50 per cent ahead of the business plan.