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NMC Healthcare Shares Surge As Firm Closes Deals W

by Forbes Middle East Forbes Middle East - Business News
The U.A.E.-based hospital operator NMC Healthcares shares have surged 8.11% after the firm announced that it increased its stake in Fakih IVF and As Salama Hospital on January 4, 2018.
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The London Stock Exchange-listed firm had a share of 51% in Fakih IVF and a 70% stake in As Salama Hospital. Both the companies were acquired at the same enterprise value which was set in 2016 during its initial purchase.
NMC bought the remaining 30% of As Salama for cash summing up to $45 million while Fakih IVFs deal is being settled in the form of cash and newly issued shares in NMC with a total consideration of $205 million with 27% being paid in cash and the remaining 73% in newly issued shares of NMC Healthcare. Post the deal, Dr. Michael Fakih will retain his role as a Medical Director in NMC and will continue his practice while NMC expands the clinic network within the U.A.E. and Oman.

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Created on Jan 8th 2018 01:06. Viewed 282 times.

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