NMC Health to set up joint venture in Saudi Arabia

FTSE 100 private medical provider NMC Health (LON:NMC) has entered into a non-binding agreement to form a joint venture healthcare platform with the investment arm of Saudi Arabia’s largest pension fund. Management said that the venture would be one of the largest providers in Saudi Arabia by beds and that it would help drive the company’s growth in the country, which it sees as a strategic priority. NMC would maintain the majority stake of the proposed joint venture.

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Shares in NMC were up by 4.27% as at 1300 BST, standing at a price of 3,84p.