NMC Health buys remaining stakes in IVF business, hospital

NMC Health, which operates in the United Arab Emirates, said it has bought outstanding minority stakes in Fakih IVF and As Salama Hospital for a total of $218m.

NMC said it would pay a combination of cash and new shares worth $205m for the 49% of Fakih IVF it does not own.

“With Fakih IVF now a wholly owned subsidiary of NMC, the company is better positioned to accelerate and expand growth globally within its fertility business,” NMC said.

It added that would continue to expand its fertility network, from the new IVF clinics opened in UAE and Oman in 2017 and additional expansions planned in other geographies, particularly Saudi Arabia.

The outstanding 30% minority stake in As Salama Hospital was bought at the same Enterprise Value of $45m which was set in 2016 with the initial 70% stake. The acquisition is being fully settled in cash, NMC said.