NMC Healthcare is UAE’s largest private healthcare provider. It has two main branches of business, NMC Healthcare and NMC Trading.
From a one room clinic in Abu Dhabi to a global healthcare enterprise in 40 years – this is the journey called NMC.
Since its inception, NMC has been chalking out distinct growth strategies that reflect the continuing leadership in the market. Having focused on expanding the capacities and building new capabilities, NMC has developed specialised verticals covering multi-specialty care, maternity and fertility, long-term and home care, operations and management and distribution services.
Over the years, NMC has earned the trust of millions, thanks to its personalised care and a sincere commitment to the overall well-being of the community it serves.
With a team of over 2,000 doctors and 18,000 paramedical and support personnel, NMC owns and manages over 135 healthcare facilities that includes hospitals, medical centres, long term care facilities, day surgery centres, fertility centres and home health services providers.
Every year, over 8.5 million patients are treated by NMC doctors across UAE, Saudi Arabia, Kuwait, Oman, UK, Spain, Italy, Denmark, Slovakia, Egypt, Brazil and Colombia.
NMC was the first company from Abu Dhabi to list on the London Stock Exchange and is now part of the FTSE 100 Index, an elite club of top 100 blue-chip companies by market cap.

Tipped by the Telegraph over the weekend.

10:50 03/10/2017
Broker Forecast - Jefferies International issues a broker note on NMC Health PLC
Jefferies International today reaffirms its hold investment rating on NMC Health PLC (LON:NMC) and raised its price target to 2810p (from 2450p). Story provided by StockMarketWire.com

6 Oct
Berenberg
4,000.00
Buy

Director Deals - NMC Health PLC (NMC)
BFN
Salma Hareb, Non Executive Director, bought 6,600 shares in the company on the 12th October 2017 at a price of 2970.98p. The Director now holds 6,600 shares representing 0.00% of the shares in issue.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Sharecast -Middle East hospital operator NMC Health was rising even higher after Deutsche Bank lifted its target price to 3,920p from 2,820p.

Acquisitions of outstanding minority interests
RNS
RNS Number : 9443A
NMC Health Plc
04 January 2018


4 January 2018

NMC Health plc
(the "Company" or "NMC")

Continued progress against group strategy

- Acquisition of minority stakes in Fakih IVF and As Salama Hospital
- Enterprise Values of both Fakih IVF and As Salama Hospital approximately the same as at the time of original acquisitions, despite substantial growth in underlying profitability
- Formal closing of Al Qadhi and Al Rashid Hospital transactions in KSA


NMC Health plc (LSE: NMC), the leading integrated healthcare provider operating across the United Arab Emirates, is pleased to announce that it has acquired the outstanding minority stakes in Fakih IVF and As Salama Hospital for a total consideration of c. USD 218mn, implying 2017 P/E multiple of just under 10x for the two assets combined. The Company also announces the completion of the previously announced Al Qadhi and Al Rashid Hospital transactions in the Kingdom of Saudi Arabia (KSA).

Acquisition of minority stakes in Fakih IVF and As Salama Hospital

NMC has acquired the outstanding 49% minority stake in Fakih IVF at approximately the same Enterprise Value as the original acquisition cost set in 2015. The acquisition is being settled in the form of cash and newly issued shares in NMC Health with a total consideration of USD 205mn (27% cash, 73% NMC shares issued, which represents c.3.5 million shares or 1.8% of NMC's current issued capital based on NMC's current share price of £29.20 ($39.42 at a GBPUSD exchange rate of 1.35 for 3 January 2018)). In addition, Dr. Michael Fakih will retain his role as a Medical Director in NMC and continue his practice as a medical doctor.

With Fakih IVF now a wholly owned subsidiary of NMC, the Company is better positioned to accelerate and expand growth globally within its fertility business. NMC will continue to expand its fertility network, from the new IVF clinics opened in UAE and Oman in 2017 and additional expansions planned in other geographies, particularly KSA, to maintain a market leading position.

As owner of the remaining 49% stake in Fakih IVF being acquired, and as a director of Fakih IVF, which is a subsidiary undertaking of NMC, Dr. Fakih is therefore deemed to be a related party to NMC for the purposes of Listing Rule 11. The transaction amounts to a smaller related party transaction as defined in Listing Rule 11.1.10.

The outstanding 30% minority stake in As Salama Hospital was acquired at the same Enterprise Value of USD 45mn which was set in 2016 with the initial 70% stake. The acquisition is being fully settled in cash.

These two acquisitions were financed from the issuance of shares to Dr. Fakih and existing cash resources from our strong and stable balance sheet which remains within our leverage guidance. In aggregate Fakih IVF and As Salama Hospital would have contributed c. USD 22mn to NMC's FY17 net income on a pro forma basis. The acquisitions became effective on 1 January 2018.

Closing of Al Qadhi and Al Rashid Hospital purchases in KSA

As announced on 25 September 2017, NMC acquired a 60% stake in Al Qadhi Hospital in Najran and a 100% stake in Al Rashid Hospital in Ha'il for an aggregate consideration of USD 40m. All formalities related to both transactions have now been completed and the contributions from both hospitals will be consolidated in NMC's results from the beginning of 2018. These facilities represent an important step ahead in NMC's drive to establish a well-developed footprint in KSA.

Prasanth Manghat, Chief Executive Officer, commented:

"In December 2017, I set out our strategy to drive the Company's next phase of growth. The transactions today fit with our commitment to increase our capacity, capabilities and geographic coverage. The acquisition of the outstanding minority stakes in Fakih IVF and As Salama Hospital represent highly value accretive transactions for NMC's shareholders. In particular, the Fakih IVF transaction provides us with an enhanced platform from which to grow our fertility business. As the second largest global IVF player, NMC remains very well positioned to be the leading consolidator in the fertility market. We will continue to seek opportunities to consolidate minority stakes in our subsidiaries, as we increase our knowledge and understanding of these businesses, where we can create further value for shareholders."

Earnings accretive acquisitions in the UAE and KSA
RNS
RNS Number : 4630C
NMC Health Plc
22 January 2018

22 January 2018

NMC Health plc
(the "Company" or "NMC")

Earnings accretive acquisitions in the UAE and Kingdom of Saudi Arabia

NMC Health plc (LSE: NMC), the leading United Arab Emirates private healthcare operator with international services across 13 countries, is pleased to announce two acquisitions and the completion of new Operating and Management (O&M) contracts. These accretive transactions demonstrate further progress in-line with the Company's strategic priorities to expand capacity, capabilities and geographic reach.

- Acquisition of 70% stake in CosmeSurge and related businesses
· Transaction includes a chain of 17 operational clinics, enhancing NMC's Cosmetics services portfolio
· Purchase consideration of USD 170mn, translating into 10.6x 2018E EV/EBITDA
· High margin, double-digit growth business operating in an attractive market segment
· Expected to be earnings and margin accretive from first year of acquisition

- Increased capacity in KSA with acquisition of 80% stake in Riyadh-based Al Salam Medical Group
· Further extends NMC's foothold in KSA with a 100-bed hospital and 2 clinics in the attractive Riyadh market
· Purchase consideration translates into a blended 2018E EV/EBITDA multiple of less than 7x
· Initial consideration of c. USD 37mn payable upon closing and a deferred consideration to be paid after 1 year based on business's financial performance
· Expected to be earnings accretive from first year of acquisition

- New O&M contracts extend geographic reach into Egypt

Strengthening NMC's cosmetics and aesthetics platform

NMC has acquired a 70% stake in CosmeSurge, an industry leader in providing quality cosmetic surgery and aesthetic medicine, and related businesses, at an implied Enterprise Value of c. USD 250mn. The business is expected to deliver 2017 revenues and EBITDA of approximately USD 67mn and USD 20.5mn, respectively, representing an attractive 31% EBITDA margin. The consideration will be settled in cash and the transaction is expected to be completed during Q1 2018. Assets being acquired under the transaction include 17 operational clinics. Additionally, a 10-bed hospital and two new clinics are currently under construction in the UAE, which are scheduled for opening during H1 2018.

NMC currently provides invasive cosmetic procedures and complex surgeries and the addition of CosmeSurge will substantially enhance the Company's cosmetics and aesthetics offering. Having managed CosmeSurge and related businesses since September 2017 under an O&M contract, NMC has already identified a wide number of revenue and cost synergy opportunities. These include cross-referral of patients, reduced capex requirement from leveraging NMC's existing capacity and cost sharing of support services related to HR, IT and procurement.

CosmeSurge and related business have been acquired from Emirates Healthcare Group. Emirates Healthcare Group is majority controlled by KBBO Group, a consortium of private investors in Abu Dhabi with a portfolio of interests across a variety of sectors. The Chairman of KBBO is Khalifa Bin Butti, who is also the Executive Vice Chairman and a substantial shareholder of NMC. For the purposes of Listing Rule 11, he is a related party of NMC and the proposed transaction constitutes a related party transaction. The transaction amounts to a smaller related party transaction as defined in Listing Rule 11.1.10.

Al Salam Medical Group extends KSA footprint

NMC has acquired an 80% stake in Al Salam Medical Group, a healthcare company in Riyadh, the largest healthcare market in KSA. The transaction is expected to be completed in H1 2018 and includes the 100-bed Al Salam Medical Hospital (commissioned in Q4 2016), the Al Salam Medical Center (established in 1985) and the Ishbilia Medical Center (established in 2003).

Al Salam Medical Group's hospital and clinics focus on a number of key specialties, including cardiology and pediatrics. NMC also sees an opportunity to add substantial value to the acquired assets by introducing further specialties and sharing best practices. As such, NMC plans to add long-term care, cosmetics and IVF services, post the completion of the acquisition.

New O&M contracts expand footprint into Egypt

NMC has also signed new Operations & Management (O&M) contracts with Emirates Healthcare Group to manage its Egyptian hospitals, Dar El Fouad and As Salam International, which have a combined capacity of 860 beds. The contract will generate revenues of USD 2mn for NMC in the first year of operation. Previous guidance for 2018E revenues for the O&M vertical is therefore maintained at USD 19mn as the new contract replaces the anticipated reduction in O&M revenues due to acquisition of CosmeSurge and related businesses.

Prasanth Manghat, Chief Executive Officer, commented:

"These value accretive and earnings enhancing transactions fit well with our growth strategy. CosmeSurge represents a continuation of building NMC's capabilities and Al Salam further extends our geographic footprint in the KSA, cementing our leading position as a non-domiciled provider. We see substantial opportunities for revenue and cost synergies across both acquisitions, and the Cosmetics business in particular has the potential to be further developed into an independent business vertical at a later stage. Moreover, KSA remains a key focus market for us and despite already reaching 800 beds across existing and under-construction assets in the country, we continue to see strong growth opportunities in the Kingdom."

Completion of Fakih IVF acquisition
RNS
RNS Number : 1275D
NMC Health Plc
29 January 2018

NMC Health plc

Completion of Fakih IVF acquisition
Share Listing Application
Total Voting Rights


London, 29 January 2018: NMC Health plc (LSE: NMC), the leading United Arab Emirates private healthcare operator with international services across 13 countries announces that the acquisition of the outstanding 49% minority stake in Fakih IVF (the "Acquisition"), announced on 4 January 2018, formally completed on 28 January 2018.

As part consideration for the Acquisition, a total of 3,533,857 new ordinary shares of 10 pence each fully paid in the Company (the "Consideration Shares"), have been issued by the Company. Application has been made to the UK Listing Authority for the admission to the Official List of the Consideration Shares and to the London Stock Exchange for such shares to be admitted to trading. These shares will rank pari passu in all respects with the existing ordinary shares of the Company.

Admission of the shares to the Official List is expected to occur on 30 January 2018.

As at 29 January 2018, NMC Health plc's issued share capital consists of 207,957,709 Ordinary Shares of 10p each, with each share having one voting right attached. No shares are held in treasury.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, NMC Health plc under the FCA's Disclosure and Transparency Rules.

29 Jan
Berenberg
4,000.00
Buy

Broker Forecast - Barclays Capital issues a broker note on NMC Health PLC
BFN
Barclays Capital today initiates coverage of NMC Health PLC (LON:NMC) with a overweight investment rating and price target of 4100p.

Story provided by StockMarketWire.com

Broker Forecasts data provided by www.sharesmagazine.co.u

06/02/2018
BUY
Lord Clanwilliam
NED
3,000

Final results

FY2017 Financial Highlights

· Group reported revenues increased by 31.3% to US$1,603.4m.
o Organic growth accounted for 15.6% YoY increase in revenues
· Healthcare division revenue increased by 41.1% to US$1,161.6m1.
o Healthcare EBITDA margin stood at 31%, up 130 bps YoY
· Distribution division revenue grew by 12.7% to US$486.8m2
o Distribution EBITDA margin declined slightly to 10.6%
· Reported EBITDA increased by 43.6% to US$353.4m.
· Reported EBITDA margin expanded by 180bps to 22.0%.
· Net profit increased by 38.2% to US$209.2m.
· Net profit margin increased by 60bps to 13.0%.
· Adjusted net profit increased by 43.2% to US$236.6m.
· Earnings per share (EPS) amounted to US$0.910 (FY 2016: US$0.711)
· Adjusted earnings per share amounted to US$1.036 (FY 2016: US$0.781)
· Proposed dividend pay-out ratio is maintained at 20% of profit after tax, amounting to GBP3 13 pence per share

FY2017 Business Highlights - A year on year (YOY) comparison
· Healthcare division's patients increased by 33.5% to 5.8.m.
· Revenue per patient from healthcare services increased by 7.6% to reach US$189.8
· Hospital bed occupancy rates reached 71.6%, a decrease of 270bps.
· Operational beds increased from 679 beds to 1365 beds, 101% increase
· Doctors' employed reached 1437, an increase of 37.9%
· Distribution division increased its product portfolio by 17.5% to 108,900 stock keeping units (SKUs)
· Sales and marketing personnel at the Distribution division grew 6.6% to 820

13:00 23/03/2018
Broker Forecast - Berenberg issues a broker note on NMC Health PLC
Berenberg today reaffirms its buy investment rating on NMC Health PLC (LON:NMC) and raised its price target to 4600p (from 4000p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

New high.

Broker Forecast - Jefferies International issues a broker note on NMC Health PLC
BFN
Jefferies International today reaffirms its hold investment rating on NMC Health PLC (LON:NMC) and raised its price target to 3291p (from 3085p).

Story provided by StockMarketWire.com

Broker Forecasts data provided by www.sharesmagazine.co.uk

Agreement
RNS
RNS Number : 8587Q
NMC Health Plc
11 June 2018

11 June 2018

NMC Health plc
(the "Company" or "NMC")

NMC enters into a transformational partnership with Hassana Investment Company to create a new healthcare platform in Kingdom of Saudi Arabia


NMC Health plc (LSE: NMC), the leading United Arab Emirates private healthcare operator with international operations across 13 countries, is pleased to announce the signing of a non-binding agreement to form a joint-venture healthcare platform with Hassana Investment Company ("Hassana"), the investment arm of the General Organization for Social Insurance ("GOSI"), which is the largest pension fund in Kingdom of Saudi Arabia ("KSA").

· Proposed formation of a new national healthcare company, pursuing a unique strategy in KSA
· JV to be formed through contribution of existing assets by both NMC and GOSI's investment in Tadawul-listed National Medical Care Company ("CARE")
· At inception, the platform would be one of the largest private healthcare operator in KSA by beds capacity
· NMC and Hassana have ambitious plans to expand and benefit from the strong growth potential of the healthcare sector in KSA through the proposed entity
· GOSI would continue to own a significant indirect stake in CARE through this proposed JV
· The proposed partnership would drive NMC's strong expansion in the KSA healthcare market


Larger platform to deliver more efficient deployment of capital in KSA

The proposed JV would create one of the largest private healthcare platforms operating in KSA today. The JV would have a strategically unique position in the country, with a strong foothold in Riyadh, the single largest healthcare market in KSA, as well as in multiple smaller, underserved cities. The enlarged organization is expected to benefit from economies of scale, allowing more efficient deployment of capital, increasing patient choice and optimizing returns across multiple assets. Furthermore, in-line with NMC's existing strategy, the proposed JV platform would continue to build a strong pan-KSA presence, unlocking considerable synergies across its facilities in the process. These are expected to cover business segments such as revenue cycle management, procurement, HR and IT systems among others.

Key terms of the agreement

· GoSI/ Hassana will transfer their 38.9% stake in CARE at a price of SAR 70/share, implying an attractive 2018E EV/EBITDA multiple of less than 15x
· NMC will contribute all of its existing KSA-based assets as part of the formation of the JV platform
· Under the terms of the agreement, there will be revaluation of NMC's assets, representing considerable value accretion at the joint-venture as well as NMC Health plc level
· The JV will have a combined bed capacity of 1,489 (664 beds contributed by NMC and 825 by CARE)
· Formation of the JV is subject to regulatory approvals and signing of definitive agreements after completion of necessary due diligence by both the parties
· For the year ended 31 December 2017, NMC reported gross assets of US$3.0 billion and profits before tax of US$210.4 million. For the same period, CARE reported gross assets of US$380.0 million and profits before tax of US$26.7 million


NMC will retain a majority stake, as well as operational control, in the JV

NMC will hold a voting majority in the proposed JV, with the exact stake subject to final terms. Consequently, NMC will fully consolidate the JV financials. NMC will also retain operational and management control of the assets held by the JV.

The proposed JV platform will serve as the main vehicle of future expansion for NMC in KSA. The proposed JV will seek to take majority, as well as minority, stakes in KSA-based healthcare operators (organic and inorganic investments), along with acquiring O&M contracts to manage private and government sector hospitals in the country.

The JV platform is expected to benefit significantly from NMC's operational expertise in the healthcare sector, as well as Hassana's local market knowledge and strategic position as a long term financial investor. The formation of this platform represents the strong commitment by both NMC and Hassana towards the KSA healthcare market.

Prasanth Manghat, Chief Executive Officer of NMC, commented:

"We identified KSA as a key strategic priority for NMC and the proposed partnership between NMC and GoSI/ Hassana would offer a tremendous opportunity for both the companies to better serve the KSA healthcare market. The Saudi government's forward looking and investor friendly policies make the Kingdom one of the most attractive destinations in the region for investment in the healthcare sector. Moreover, Hassana's strong commitment to the sector, particularly in the form of strategic investments, remains a vital means of attracting and developing healthcare expertise in the country. NMC has been the most progressive foreign entrant in the Saudi healthcare market, and the proposed partnership with Hassana would accelerate the process of bringing international best practices to KSA. In addition to being ideally positioned to participate in the highly anticipated privatization program in KSA, the proposed JV platform will continue to fill service gaps in the market. This is expected to be achieved through a wide range of means, be it through the development of IVF, long-term care and cosmetics segments or the introduction of pediatric centers of excellence and state-of-the-art cancer centers."

Saad bin Abdulmohsen Al-Fadly, Chief Executive Officer of Hassana, commented:

"The proposed partnership between Hassana and NMC is driven by our view that healthcare in Saudi Arabia is one of the most attractive markets for strong long-term growth. The proposed JV has ambitious growth plans across different healthcare sub-sectors, with both partners committed to compounding returns over the long-term, whilst providing best-of-class services to patients. Benefiting from Hassana's role as a strong long term financial and strategic investor and NMC's expertise as a sophisticated and successful healthcare expert in the region, the JV platform would be well-positioned to become one of the most dominant healthcare players in Saudi Arabia and is ideally positioned to capitalize on the health care privatization program in Saudi Arabia in line with the country's Vision 2030 initiatives."

08:10 07/08/2018
Broker Forecast - Barclays Capital issues a broker note on NMC Health PLC
Barclays Capital today reaffirms its overweight investment rating on NMC Health PLC (LON:NMC) and raised its price target to 4600p (from 4250p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

Business Update
RNS
RNS Number : 2230Y
NMC Health Plc
20 August 2018

20 August 2018

NMC Health plc
(the "Company" or "NMC")

Continuous execution of 2017 enhanced strategy

Further geographic expansion of the IVF platform: Extending foothold in Europe and entry into the African market

First O&M contract signed in sub-Saharan Africa

UK acquisition reinforces capability enhancement program

NMC Health plc (LSE: NMC), the leading private healthcare operator in the Gulf Cooperation Council (GCC) with international services across 17 countries, announces significant progress the Company has made during 2018 against the updated strategy announced in December 2017.

Development of Centers of Excellence as potential verticals

With the verticals-based structure serving NMC well across its rapid growth, the Company continues to evaluate potential new additions to the framework. As highlighted previously, the recently acquired cosmetics business represents a strong candidate in this regard. Additionally, NMC's Pediatric Centre of Excellence is rapidly emerging as a potential new, organically grown vertical. The Company has significantly enhanced the quality and complexity of pediatric care in the UAE following its collaboration with Cincinnati Children's Hospital, one of the top two children-focused hospitals in the US. Under the terms of the agreement, key child specialists from the American hospital visit NMC Royal hospital on a periodic basis, bringing previously unavailable medical services in the country. Given the shortage of pediatric healthcare services in the GCC in general and the UAE in particular, this segment represents strong potential for growth, and hence an upgrade to a vertical status.

While the abovementioned offer the nearest term potential to form new verticals, management continues to see promise across a number of other Centers of Excellence that could eventually become independent verticals as well. The most prominent among these include Orthopedics, Cardiology, Oncology and Ophthalmology.

Expanding healthcare business target market from GCC to wider Emerging Markets

NMC's Operations & Management (O&M) vertical continues to serve as a risk-controlled means of gaining exposure to new markets outside the GCC and evaluating opportunities for capital deployment. Following the Egyptian O&M contracts announced in January 2018, NMC has now extended its reach to sub-Saharan Africa through signing of O&M contracts with private parties in Kenya. Signed on 1 July 2018, the contracts cover two hospitals in Nairobi and will generate revenues of US$2m per annum. Additionally, the Kenyan government has requested NMC to advise on affordable healthcare technology for school going students.

In addition to high margin revenues, the O&M contracts are expected to provide considerable cross referral opportunities to NMC's UAE-based facilities. Kenya, as well as the wider sub-Saharan Africa, remains an important source of medical tourism to the UAE due to its geographic proximity and conducive visa regulations.

Extending the IVF global footprint

Highlighted during the 2017 strategy update as a truly global opportunity, NMC's IVF business continues to extend its international reach, with three new markets added recently including Sweden, Latvia and Kenya. The Company has acquired leading IVF clinics in Sweden and Latvia, broadening its foothold in the attractive European market for a combined consideration of c. US $25m. In addition to being value accretive acquisitions (both transactions completed at multiples below 8x 2018E EV/EBITDA), these top-rated clinics add substantial research expertise in the Fertility segment. They also bring highly experienced doctors to NMC's team, including world renowned gynecologist, Dr. Mats Brännström, who made history by successfully conducting the world's first uterus transplant.

Moreover, adding a fourth continent in the form of Africa, NMC's Fertility business has entered the Kenyan market through a Greenfield expansion in Nairobi. Fully integrated with our European brand, Clinica Eugin, the clinic will be the only global platform in Africa. Infertility represents a major reproductive health problem across Africa in general and in sub-Saharan Africa in particular. Given its solid expertise in Europe, in-house resources, operational expertise and research capabilities, NMC is ideally positioned to invest in this developing market. With the Kenyan facility expected to attract patients from adjoining East African markets of Tanzania, Uganda and Rwanda, NMC views its state-of-the-art clinic as a launchpad for the attractive African market.

Acquisition of UK-based Aspen Healthcare: Establishing Centers of Excellence in GCC with capability enhancement program

NMC has acquired 100% of the equity of Aspen Healthcare ("Aspen") from Tenet Healthcare for an Enterprise Value of GBP 10m. Aspen operates a network of nine facilities across the UK including four hospitals, three of which are based in Greater London (Parkside Hospital, The Holly Private Hospital and Highgate Hospital).

Aspen facilities provide quality services, with NHS accounting for less than 30% of revenues. While offering a large range of specialties, Aspen is particularly recognized in Orthopedics and Oncology, which represent 50% of the company's revenues. Both segments remain highly underserved in the UAE, thus offering the dual benefit of knowledge transfer as well as potential for patient referral to NMC's own international facilities when the required medical treatment is unavailable in the country.

The acquisition also provides NMC a very cost-effective means of introducing its fertility services to the UK. Situated in prime locations, the facilities have the required civil structures in place for rapid deployment of our world-renowned IVF services.

NMC's management sees significant opportunity for driving margin and earnings growth at the newly acquired facilities. However, while capital expenditure is planned for the Aspen facilities, NMC does not currently intend to invest in other non-fertility based healthcare facilities in the UK.

NMC intends to finance the transaction using existing cash resources. For the year ended 31 December 2017, Aspen reported EBITDA of £5m (US$7m) and had gross assets of £173m (US$221m). The transaction is expected to be neutral to NMC's EPS in 2018.

Adapting to rapid technological developments in the healthcare sector

NMC is ardently keeping an eye on global digital health trends, such as mobile health, artificial intelligence enabled healthcare platforms, genomics and robotics. These developments are expected to have a dramatic impact on healthcare delivery in the coming years. NMC is exploring novel ways to collaborate with industry leaders in these technological fields to pioneer a futuristic healthcare value chain to improve accessibility, enhancing clinical outcomes and reducing costs.

Mr Prasanth Manghat, Chief Executive Officer, commented:

"In December 2017, we set out our new strategy to drive future growth by focusing on leveraging our healthcare services expertise to increase capacity, growing our capabilities and expanding across multiple geographies. Our flexible model allows us to consider opportunities to manage as well as own healthcare facilities. We continue to expand into new geographies, with our footprint now spread across 17 countries. Despite the passage of a relatively short time period since outlining the enhanced strategy, we have made substantial progress across all facets. We continue to strengthen NMC's reputation as a provider of world class services for our patients and are cementing our position as a leading global healthcare operator."

Half year report part1

H1 2018 Group financial highlights

· Group reported revenues increased by 20.2% YoY to US$932.0m, with organic growth accounting for 13.4% of this growth
· EBITDA margin increased by 220bps to 24.2% as EBITDA growth (+32.1% to US$225.5m) continues to outpace revenue growth
· Financial and operational performance during H1 2018 remained in line with expectations, with management maintaining positive outlook for H2 2018

Half year report part2