Emirati healthcare company NMC expected to sell non-core assets early this year, and that this will contribute to a 6% growth in its revenues in 2021 for businesses in The UAE and the Sultanate of Oman.
According to Arabiya Net, the company estimated that EBITDA for the current year would reach $ 163 million, compared to $ 87.6 million in 2020 with the continued implementation of improvement initiatives Performance.
The company announced that it has commissioned Birla Weinberg Partners and Resonance Capital to advise on the potential sale of the healthcare business in the UAE.
and said it had decided that the sale would proceed in parallel with ongoing restructuring talks with NMC's lenders.
In December, NMC agreed to sell its Eugene IVF unit to Fresenius Helios for a total project value of about $ 525 million. The process is expected to be completed by End of the first half of 2021.
the company said the deal will increase NMC's liquidity position in support.
NMC said that despite the difficult situation caused by COVID-19, total business revenues in the UAE and Oman amounted to $ 1.12 billion, an increase of 11% over Business plan, while it achieved EBITDA of $ 87.6 million, which is also far more than its plan.
In 2021 the NMC group is expected to have operations in the UAE and Oman after the expected sale of non-core assets.
