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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Hikma Pharmaceuticals    HIK   GB00B0LCW083

Delayed Quote. Delayed  - 10/23 04:53:54 pm
1166.7475 GBp   -2.61%
09/15 NMC Health targets acquisition-led growth to keep FTSE 100 slot
08/25 HIKMA PHARMACEU : Holding(s) in Company
08/24 HIKMA PHARMACEU : ex-dividend day for interim dividend
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NMC Health targets acquisition-led growth to keep FTSE 100 slot

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09/15/2017 | 06:38pm CEST

NMC Health (>> NMC Health PLC), the United Arab Emirates-based healthcare provider, plans to expand in Europe and the Gulf to retain its recently won place in London's FTSE 100 blue chip index.

NMC Health (>> NMC Health PLC), the United Arab Emirates-based healthcare provider, plans to expand in Europe and the Gulf to retain its recently won place in London's FTSE 100 blue chip index.

Next week NMC is set to become the only Middle Eastern company whose stock is a constituent of the prestigious benchmark, giving it access to a new and more stable investor base as well as exposure to greater shareholder scrutiny.

"The most important thing now is to continue performing and solidify growth that we’ve seen since we began acquiring assets in 2015," NMC chief executive Prasanth Manghat told Reuters.

A company needs to ensure that its market capitalisation grows in order to stay in the index, unlike Jordan-based Hikma Pharmaceuticals (>> Hikma Pharmaceuticals) which entered the FTSE 100 index in 2015 but was subsequently ejected after its share price slid.

Manghat said that NMC, which listed in London in 2012, would strengthen its position with further investment, using $500 million in cash and unused financial facilities. "We will definitely look at opportunities to consolidate and grow in Europe, the UK and the Gulf," he added.

NMC entered Europe by acquiring one fertility clinic in Spain and one in Italy and now has three in each country. It also has three such clinics in Brazil and one in Colombia.

"It is a very good business where, we believe, not many investments are coming. Corporatisation of the IVF (fertility) business is our aim,” Manghat said.

NMC treated 2.88 million patients in the first half and growth in the Gulf’s healthcare sector is being driven by growing populations becoming more susceptible to lifestyle diseases such as diabetes and obesity.

While NMC is looking at further growth in the UAE, its main target market is Saudi Arabia where it made a first foray last year by building a new hospital and buying a stake in another.

NMC will invest in long-term care, fertility and general clinics across smaller cities in Saudi Arabia, Manghat said, adding that the firm was also bullish on Oman, where he hopes deals could materialise by the end of the year.

Saudi Arabia's government has said it will welcome foreign investors in its healthcare to relieve a huge budget deficit resulting from low oil prices.

Although uncertainty remains about how Riyadh will regulate investment, Manghat said NMC could cope more easily with the high costs and sophisticated technology needed to run Saudi hospitals than smaller competitors.

(Editing by Andrew Torchia and Alexander Smith)

By Stanley Carvalho

Stocks treated in this article : Hikma Pharmaceuticals, NMC Health PLC
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Financials ($)
Sales 2017 1 957 M
EBIT 2017 364 M
Net income 2017 174 M
Debt 2017 502 M
Yield 2017 1,98%
P/E ratio 2017 20,78
P/E ratio 2018 18,09
EV / Sales 2017 2,20x
EV / Sales 2018 2,04x
Capitalization 3 802 M
Chart HIKMA PHARMACEUTICALS
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Hikma Pharmaceuticals Technical Analysis Chart | HIK | GB00B0LCW083 | 4-Traders
Technical analysis trends HIKMA PHARMACEUTICALS
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 17,4 $
Spread / Average Target 10%
EPS Revisions
Managers
NameTitle
Said Samih Taleb Darwazah Chairman & Chief Executive Officer
Khalid Nabilsi Chief Financial Officer
Ibrahim Jalal Senior Vice President-Technical Affairs
Mazen Samih Taleb Darwazah Executive Vice Chairman & CEO-MENA Region
Mohammed Ali Khaldoun Al-Husry Non-Executive Director
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