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Tuesday, 23 January 2018

NMC Healthcare signs O&M contracts to manage Dar Al Fouad, As-Salam hospitals

NMC Healthcare signs O&M contracts to manage Dar Al Fouad, As-Salam hospitals: UAE-based hospital operator NMC Healthcare signed operation and management (O&M) contracts with Emirates Healthcare Group to manage the latter’s two Egyptian hospitals, Dar Al Fouad and As-Salam, according to the Emirates News Agency. The two hospitals have a combined capacity of 860 beds. NMC should take in revenues of c. USD 2 mn in the first year of the agreement, the site suggests.

NMC also announced yesterday two separate acquisitions worth a combined USD 207 mn, Reuters reports. NMC acquired a 70% stake in Emirati cosmetic surgery provider CosmeSurge for USD 170 mn, in addition to an 80% stake in Saudi Arabia’s Al Salam Medical Group for USD 37 mn. The two transactions are expected to be complete in 1Q2018 and 1H2018, respectively.

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