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NMC Health's acquisition of Al Zahra Hospital on-track

02 March 2017 13:41

NMC Health has announced that the proposed acquisition of the Al Zahra Hospital in Sharjah is on-track and due to complete before the end of March 2017.

The Company added that, since the start of 2017, the Al Zahra Hospital has been trading ahead of management expectations.

Dr. B.R. Shetty, Chief Executive Officer & Executive Vice-Chairman of NMC, commented:

"I am pleased to confirm that we are on-track to complete the proposed acquisition of the Al Zahra Hospital in the first quarter of this year, representing another major step in strengthening our position as the leading integrated healthcare operator in the UAE and GCC region. The proposed acquisition is fully in line with our strategy and demonstrates our focus on delivering long-term growth of our strategic and competitive advantages to sustainably enhance shareholder returns."

Prasanth Manghat, Deputy Chief Executive Officer of NMC, commented:

"The acquisition of Al Zahra Hospital, one of the leading and most reputable private hospitals in Sharjah and across the UAE, is strategically very significant for NMC. This attractive and complementary deal is expected to deliver significant benefits for patients and value for shareholders as we continue to expand our top-in-class offering, track record and brand in the region."

At 1:41pm: (LON:NMC) NMC Health PLC share price was +15p at 1796p

Story provided by StockMarketWire.com

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