(MENAFN) Abu Dhabi-based NMC Health is set to buy a Spanish fertility treatment provider after a 12 percent net profit increase in 2014, The National reported.
The London-listed company is set to acquire 86.4 per cent of Barcelona-based Clinica Eugin for USD161.98 million from the Spanish venture capital firm ProA Capital.
Before interest, taxes, depreciation, and amortization, Eugin's earnings amounted to USD15.86 million in 2014. NMC's net profit hit USD77.5 million in 2014, marking a 12.1 percent increase from USD69.1 million in 2013.
"The acquisition should enable NMC to continue to build its brand in the [Arabian Gulf] as it leverages this service across the region," the director of healthcare equity research at Numis Securities said.
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