NMC Health’s half-year check up shows good progress

The price of shares in Middle Eastern private healthcare provider NMC Health (LON:NMC) has risen by 25.81% to 2,435.78p (as of 13:45 BST) after its EBITDA climbed by 22.5% during the first half of 2019. Based on the performance during the six months ended 30th June as well as trading during Q3 to date, management said that the company was well on track to meeting prior guidance.

CEO Prasanth Manghat commented: “NMC Health again achieved strong performance in the first six months of the year, as we continue to deliver on our growth strategy in our attractive target markets. Our ability to perform strongly in a challenging environment testament to NMC’s strategy of developing niche, differentiated verticals in our core markets that provide the best possible care for our patients.

“All key financial and operational metrics of our healthcare and distribution businesses performed in line with our guidance. We also made good progress on increasing free cashflow during the period and we see room for further improvement in H2 2019, as has been the trend in previous years.

“We are also particularly pleased to have closed our strategically important partnership with GOSI/Hassana Investment Company which ranks as one of the defining events in the history of NMC. This partnership will provide us with the ideal platform to establish a dominant position in the attractive Saudi Arabia healthcare market“.