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Trading statements

NMC Health upbeat on FY EBITDA

02 May 2017 07:20

NMC Health expects healthcare regulatory changes implemented by His Highness Sheik Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Commander of the UAE Armed Forces to positively impact its entire healthcare portfolio.

NMC now expects full year EBITDA to be towards the top end of the current guidance range of $335m-$350mn.

The Crown Prince's statements -- regarding regulatory changes to Thiqa cardholders in Abu Dhabi -- were confirmed by the Health Authority of Abu Dhabi (HAAD) to NMC on 27 April 2017.

Effective immediately, the changes were for the removal of the 20% co-payment on services accessed by Thiqa cardholders at private Abu Dhabi healthcare facilities.

There was also a reduction in the co-payment for services accessed by Thiqa cardholders outside of the Emirate of Abu Dhabi from 50% to 10%, and removal of IVF related restrictions.

"As previously communicated, NMC's Long-term & Home Care vertical was exempt from the changes made to the co-payment on services," said NMC Health.

"NMC expects these changes to positively impact its entire healthcare portfolio," it said in a statement.

"In particular, NMC Royal Hospital, Al Zahra Hospital and Fakih IVF are anticipated to be key beneficiaries of the revised regulations. NMC now expects full year EBITDA to be towards the top end of the current guidance range of $335m-$350mn."

Story provided by StockMarketWire.com

Related Company: NMC

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