NMC Health (LON:NMC) has this morning announced significant progress in 2018 against the updated strategy in December 2017 and plans for continuous execution of its 2017 enhanced strategy.
Significant progress for NMC
NMC’s share price has opened in London this morning having gained 6.60 per cent to 4328.00p as of 8.48 BST. The stock is outperforming the FTSE which saw a flat start but has risen, currently standing 0.45 per cent higher at 7592.93p.
The private health care company which operates in the United Arab Emirates stated that the strategy will include geographic expansion of the IVF platform, extending its foothold in Europe and entry into the African market.
NMC points to key areas including the development of centers as potential verticals, expanding healthcare business target from GCC to wider emerging markets and extending the IVF global footprint. Of the latter, NMC said since the 2017 strategy NMC’s IVF business continues to extend its international reach, with three new markets adding, including Sweden Latvia and Kenya.
The statement also referred to the 100% acquisition of Aspen healthcare and its vision to keep abreast of technological developments such as Artificial Intelligence enabled healthcare platforms and robotics.
Mr Prasanth Manghat, CEO of NMC said: “In December 2017, we set out our new strategy to drive future growth by focusing on leveraging our health care services to increase capacity, growing our capabilities and expanding across multiple geographies.
He continued: “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 provider of a world class services for our patients and are cementing our position as a leading global healthcare operator.”
Analysts on health care provider
NMC’s target price was increased by Barclays from GBX 4,250 ($54.22) to GBX 4,600 ($58.68) on August 7th. Jefferies Financial group increased their price objective on NMC shares to GBX 3,291 ($41.98) from GBX 3.085 and gave the company a hold rating.