DOCSLIB.ORG

Continuing Our Strategic Growth Journey

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Continuing Our Strategic Growth Journey NMC Health plc Annual ReportNMC Health 2018 and Accounts Continuing our strategic growth journey NMC Health plc Annual Report and Accounts 2018 WorldReginfo - 8ec90900-1eef-4328-a6bc-197d0a7f1415 NMC Health is the leading private healthcare operator in the GCC with international services across 19 countries. NMC believes in providing healthcare to all segments of society while upholding the highest ethical medical practices. Our patients are assured of receiving the highest standards of quality at affordable prices. Healthcare is not simply about detecting, diagnosing, informing or treating an individual, but it is about helping people to lead a wholesome and healthy life. Read the annual report and much more on our website: www.nmchealth.com WorldReginfo - 8ec90900-1eef-4328-a6bc-197d0a7f1415 At a Glance Our Business NMC has created regional clusters to aid the process of centralisation of key services to benefit from our strong growth over the past few years. We operate two business lines, Healthcare and Product Distribution, which are divided into five business verticals as indicated below: Healthcare Where we operate NMC has created regional clusters to aid the process of centralisation of key services to benefit from our strong growth over the past few years. Multi-specialty Maternity & Fertility Spain USA Long-term & Home Care Colombia Brazil Operations & Management Product Distribution Own and Operation & Management Own Operation & Management Products & Consumables WorldReginfo - 8ec90900-1eef-4328-a6bc-197d0a7f1415 Sweden Denmark UK Latvia Slovakia Italy Jordan Kuwait Egypt United Arab Emirates Saudi Arabia Yemen Oman Kenya Seychelles WorldReginfo - 8ec90900-1eef-4328-a6bc-197d0a7f1415 Group Strategic Financial Other Overview Report Governance Statements Information NMC focuses on underserved medical services and geographies within the countries it operates in and will continue to utilise organic and inorganic growth strategies to address these opportunities. Company Highlights Overview At a Glance 2 Joint Chairmen’s 2018 letter to Shareholders Group Strategic Report 6 Chief Executive Officer’s Review 8 Our Business Model 10 Our Strategy 12 Financial Summary and Operational Highlights Patients Licensed beds 13 Business and Financial Review 20 Key Performance Indicators 7.5m 2,186 22 Strategic Risk Management 26 Corporate Social Responsibility 2017: +5.7m 2017: 1,539 Governance 38 Board of Directors 40 Senior Management Team 42 Corporate Governance Report 62 Directors’ Remuneration Report 2018 79 Directors’ Report Financial Statements Doctors Employees 84 Directors’ Statements 87 Independent Auditor’s Report 96 Consolidated Income c.1,735 c.18,000 Statement 97 Consolidated Statement of Other Comprehensive 2017: c1,400 2017: c.14,000 Income 98 Consolidated Statement of Financial Position 99 Consolidated Statement of Changes in Equity 101 Consolidated Statement of Cash Flows 103 Notes to the Consolidated Financial Statements 158 Statement of Financial Position 159 Statement of Changes in Equity Countries Facilities 160 Statement of Cash Flows 161 Notes to the Financial 19 189+ Statements Other Information 2017: 13 2017: 129 own and managed facilities 174 Shareholder information (51 owned facilities and 78 managed) NMC Health plc Annual Report and Accounts 2018 1 WorldReginfo - 8ec90900-1eef-4328-a6bc-197d0a7f1415 Overview Joint Chairmen’s 2018 letter to Shareholders Continuing our strategic growth journey The past year has been one of solid progress Dear Shareholder, as we continue to execute our strategy of growth 2018 saw Group Revenue increase to and integration of the businesses now making up US$2.1bn in 2018, up 28.3% from 2017. Consolidated EBITDA increased by 37.9% the wider NMC Group. to US$487.4m over the same period. These financial results are an impressive testament to the achievements of our management and staff in 2018. Integration and Efficiencies As we reported last year, 2017 was an important year of consolidation, and management have in 2018 built on the success of its integration program in 2017. In pursuing these projects, management have sought to ensure that the Group operates through its geographic clusters and business verticals as efficiently as possible. The management structure has been enhanced, providing additional experience and bandwidth. From a financial perspective, good organic growth was achieved not only in EBITDA but also in EBITDA margin in 2018. Our published guidance indicates that this trend continues into 2019. Strategy In December 2017, the Company reiterated and updated its growth strategy. During 2018, the Company: • Acquired the remaining minority interest in Fakih IVF that it didn’t previously own; • Acquired 70% of CosmeSurge, a growing cosmetic surgery business; • Opened a number of new IVF clinics, and acquired Boston IVF, to widen the reach of the growing IVF business; • Opened and acquired hospital facilities in the Kingdom of Saudi Arabia; and • Acquired Aspen Healthcare in the UK. These acquisitions and new openings have been accretive for shareholders in the shorter term. In addition, we also announced recently that the creation of a Joint Venture with Hassana Investment Company in the Kingdom of Saudi Arabia had been finalised. 2 NMC Health plc Annual Report and Accounts 2018 WorldReginfo - 8ec90900-1eef-4328-a6bc-197d0a7f1415 Group Strategic Financial Other Overview Report Governance Statements Information “We also announced recently that the creation of a Joint Venture with Hassana Investment Company in the Kingdom of Saudi Arabia had been finalised.” Long-Term Financial Stability years. The Board and management The Board adopted a Modern Slavery During 2018 and early 2019, the have likewise focused more attention Policy in 2018 and has published its management team have also on these matters. first Modern Slavery Statement. This been focussed on ensuring that the Statement reviews our internal policies Company’s debt is structured efficiently. The Board believes that the Company and procedures and Modern Slavery has a good governance structure risks within both our own businesses In April 2018 the Company issued a $450m providing assurance to all shareholders and those of our supplier base. Convertible Bond converting existing debt of the Company. into a more structured seven-year bond. In line with many other companies we In November 2018, the Company issued During 2018 the Board restructured its see all aspects of ESG and stakeholder a $400m Sukuk financing arrangement. Committees, which had been in place for engagement as a journey and we will The Sukuk is the first US$ denominated three years, to ensure that they provide continue to update shareholders on Sukuk by a healthcare provider globally a fresh focus on Committee business. progress in this area each year. as well as the first international capital The Board has a wide cultural and ethnic markets issuance from the healthcare mix as well as a wide range of skills and Board and Employees sector in the MENA region. operational experience from different Dr Nandini Tandon decided recently to parts of the world. Shareholders can step down from the Board to focus on her These financing transactions lengthened therefore take continued re-assurance other business interests. The Board has the average term of our net debt and that different viewpoints are well thanked Nandini for her contribution as provide the Group with the long-term represented during Board discussions. a Director over the last 4½ years and wish stability required for a phased her well for the future. The search for a expansion strategy. The Board for the first time, undertook an new independent non-executive Director externally facilitated board evaluation in is in progress. Dividend 2018. The evaluation concluded that “the As a result of our growth, good Board is operating effectively and healthily”. The Board is very appreciative of performance and continuing financial A summary of the findings of the board the hard work of all our management stability, your Board intends to retain its evaluation is set out on page 46. team and staff in delivering quality dividend payment policy of distributing services for our patients and returns a dividend of approximately 20% of profit The Company has always considered for our shareholders. The continued after tax. Therefore, the Board plans both the interests of its primary commitment and support they have to submit a resolution to shareholders stakeholders and those of the external shown during this continuing period at the 2019 Annual General Meeting communities within which it operates. of transformational change and growth authorising payment of a cash dividend With the integration and transformation is testament to their strong work ethic. of 18.1 pence per share, an increase of 39% of the Group well on track, management compared to the 2017 dividend payment. and the Board have been able to focus Outlook more fully on the transparency of our Despite challenging economic conditions Management Environmental, Social and Governance being experienced in some global financial The increasing size of the Group has (ESG) activities and the reporting of markets, we remain positive in the led Prasanth Manghat to continue the these activities to shareholders. markets in which we operate. The ongoing expansion of his management team drive to increase private healthcare in both the Corporate Centre and within In 2018 the Company published its first ESG participation in a number of our primary Group businesses.
Load more

Recommended publications
  • The U.A.E. Healthcare Sector an Update: January 2018
    The U.A.E. Healthcare Sector An Update: January 2018 The U.S.-U.A.E. Business Council is the premier business organization dedicated to advancing bilateral commercial relations. By leveraging its extensive networks in the U.S. and in the region, the U.S.-U.A.E. Business Council provides unparalleled access to senior decision makers in business and government with the aim of deepening bilateral trade and investment. U.S.-U.A.E. Business Council 505 Ninth Street, NW Suite 6010 Washington D.C. +202.863.7285 [email protected] usuaebusiness.org 1 INTRODUCTION The U.A.E.’s healthcare sector has dramatically expanded over the past four decades. At the time of the U.A.E.’s founding in 1971, the country had just seven hospitals and 12 health centers. As of 2015, according to the latest figures from the U.A.E. statistics authority, the U.A.E. had 126 public and private hospitals with a combined capacity of over 12,000 beds.1 U.S. companies and citizens have played an important role in this growth story, as best symbolized by the Oasis Hospital in Al Ain. In 1960, U.S. missionaries Drs. Pat and Marian Kennedy built this hospital – the U.A.E.’s first – in a mud-block guesthouse donated by the late U.A.E. President Sheikh Zayed bin Sultan Al Nahyan.2 Over the next 50 years, this hospital birthed more than 90,000 babies, including members of Abu Dhabi’s ruling family.3 Moreover, it retained strong connections with that family, which funded the hospital’s expansion earlier this decade.4 As the U.A.E.
    [Show full text]
  • Integrated Approach
    INTEGRATED APPROACH NMC Health plc Annual Report and Accounts 2017 NMC Health plc Annual Report and Accounts 2017 NMC Health is one of the world’s top 10 healthcare operators by market value. A member of the coveted FTSE-100 index, NMC’s geographic reach spans across 13 countries through 129 own or managed facilities. The Group operates two business lines, Healthcare and Product Distribution, which are divided into five business verticals: I-SPECIA MULT LTY M A T E R N N IT O I Y T & U F B I E R R T T S I I L D I T Y O P E E R A R T A IO C N E S M O & H M & AN M A ER GEM -T ENT LONG Read more about our vertically integrated brands p2 I. Overview II. III. IV. V. Company Highlights I. Overview 2 At a Glance 8 Value from Acquisition Strategy NMC focuses on underserved medical services and geographies within the countries it operates in and will continue to utilise organic and inorganic 10 Joint Chairmen’s 2017 Report to Shareholders growth strategies to address these opportunities. II. Strategic Report 14 Chief Executive Officer’s Review $1.6bn 17 Financial Summary and Highlights £7.1bn 18 Business Model 20 Our Strategy FTSE 100 company – 2017 Group revenues (US$) market capitalisation of £ 21 Business Overview £7.1bn at end February 2018 24 Financial Review 26 Management Evolution 28 Risk Management 1,539 $353.4m 32 Corporate Social Responsibility III. Governance Licensed beds 2017 Group EBITDA (US$) 38 Board of Directors 40 Senior Management Team 41 Corporate Governance Report 58 Directors’ Remuneration Report 2017 129 13 78 Directors’ Report IV.
    [Show full text]
  • UAE Banking Pulse Quarter 2, 2020 Alvarez & Marsal Middle East Limited (A&M) Is Delighted to Publish the Q2’20 Edition of the UAE FOREWORD Banking Pulse (“The Pulse”)
    UAE Banking Pulse Quarter 2, 2020 Alvarez & Marsal Middle East Limited (A&M) is delighted to publish the Q2’20 edition of the UAE FOREWORD Banking Pulse (“The Pulse”). In this quarterly series, we share results from our research examining the top ten largest listed UAE banks by assets, and highlight key performance indicators of the sector. The Pulse aims to help banking executives and board members stay current on industry trends. In this edition, we have made a change to our coverage universe by replacing Emirates Islamic Bank (EIB) with National Bank of Fujairah (NBF), as Emirates NBD reports consolidated financials including EIB. Hence, for consistency of comparison, all historical quarters data has been adjusted to include NBF instead of EIB. All the data used in this report has been obtained from publicly available sources and the methodology for the calculations is discussed in the glossary. Calculation of several metrics has been changed from the previous version to accommodate available information. The UAE Central Bank continues with its measures to strengthen the financial system and support the economy impacted by COVID-19. It has unveiled additional measures within the Targeted Economic Support Scheme (TESS) launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy. These measures include relaxation of Net Stable Funding Ratio and the Advances to Stable Resources Ratio by 10% points for domestic banks until 31st December 2021. According to Central Bank’s credit sentiment survey for Q2’20, domestic corporate credit demand is likely to pick up in the coming period, while personal credit is still expected to witness a sluggish trend.
    [Show full text]
  • Watchdog Probes
    ANOTHER BAD DAY FOR THE FTSE AS COVID-19 TAKES A TOLL P3 BUSINESS WITH PERSONALITY FRIDAY 28 FEBRUARY 2020 ISSUE 3,566 CITYAM.COM FREE Poor health: Watchdog GLOBAL BRITAIN: probes NMC ANNA MENIN @annafmenin NMC HEALTH had another torrid day yesterday. Trading in the FTSE 100 healthcare operator’s shares was suspended, the Financial DELAYED. Conduct Authority (FCA) HEATHROW EXPANSION HALTED AFTER COURT JUDGMENT launched an investigation into the company, and a major shareholder criticised its handling of an internal inquiry of its finances. News of the FCA probe came a day after the UAE-based hospital operator fired its boss and placed its finance chief on extended sick leave following its own probe into its finances. NMC said it would fully cooperate with the City watchdog. The FCA said earlier this month it was “making enquiries” into NMC after questions were raised over the size of major investors’ holdings in the firm. NMC shares have lost almost two-thirds of their value since December, when US shortseller Muddy Waters published a STEFAN BOSCIA Keith Lindblom found the policy Grant Shapps] has taken a review of it,” A separate legal challenge to the policy report questioning its finances @Stefan_Boscia statement written by the Department Lindblom said. statement by Heathrow Hub, authors of and governance. NMC denied for Transport (DfT) did not take account The challenge — brought forward by a rival airport extension bid, was wrongdoing. THE HIGH Court of Appeal put the skids of the UK’s Paris Climate Agreement mayor of London Sadiq Khan, similarly unsuccessful. On Wednesday, NMC fired on Heathrow airport’s third runway commitments and needed to environmental groups, several local Speaking outside the Royal Courts of chief executive Prasanth bid yesterday, ruling the plans as be re-written.
    [Show full text]
  • For Immediate Release 14 December 2016 NMC Health Plc Proposed
    THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION For immediate release THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF THOSE REGULATIONS. 14 December 2016 NMC Health plc (the “Company” or “NMC”) Proposed Placing of New Ordinary Shares to fund Acquisition Introduction NMC Health plc, the leading integrated healthcare provider operating across the United Arab Emirates (“UAE”), today announces its intention to place 18,571,428 new ordinary shares (the "Placing Shares"), representing approximately 9.99% of the current issued ordinary share capital of the Company (the "Placing"). The Placing is being conducted through an accelerated bookbuild (the “Bookbuild”) which will be launched immediately following this Announcement, in accordance with the terms and conditions set out in the Appendix and will be made available to new and existing eligible institutional investors. HSBC Bank plc (“HSBC”) and J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) (“J.P. Morgan Cazenove” and together with HSBC, the “Bookrunners”), joint corporate brokers to the Company, are acting as joint bookrunners in connection with the Placing. The Company’s three largest shareholders, who together control approximately 61.6 per cent. of the Company’s issued share capital1, have provided letters of intent indicating their intention to subscribe for up to US$170 million / GBP134 million2 (or their pro-rata if lower) of the Placing.
    [Show full text]
  • The UAE Healthcare Sector
    The U.S.-U.A.E. Business Council is the premier business organization dedicated to advancing bilateral commercial relations. By leveraging its extensive networks in the U.S. and in the region, the U.S.-U.A.E. Business Council provides unparalleled access to senior decision makers in business and government with the aim of deepening bilateral trade and investment. U.S.-U.A.E. Business Council 505 Ninth Street, NW Suite 6010 Washington D.C. +202.863.7285 [email protected] usuaebusiness.org *Report cover, from L to R: Johns Hopkins University President Ronald J. Daniels; Philanthropist, Johns Hopkins Alumnus, and Former New York City Mayor Michael R. Bloomberg; U.A.E. Ambassador Yousef Al Otaiba; Dean of Johns Hopkins University Medical Faculty and CEO of Johns Hopkins Medicine Paul Rothman (photo credit Nick Khazal, U.A.E. Embassy) 1 INTRODUCTION 2018 was another landmark year for the U.A.E.’s healthcare sector and its partnerships with leading U.S. institutions. In February 2018, the U.A.E. Embassy in Washington, D.C. and Johns Hopkins Medicine announced a new institute for stroke research and clinical care. The Sheikh Khalifa Stroke Institute, established through a $50 million gift from the U.A.E., will feature facilities in Baltimore and Abu Dhabi.1 The Institute will enable Johns Hopkins scientists to collaborate with their Emirati colleagues, training a workforce of biomedical researchers in the U.A.E.2 Furthermore, in April 2018, the U.A.E. Ambassador to the U.S., His Excellency Yousef Al Otaiba, signed memoranda of understanding (MoUs) with leaders from several top American hospitals on behalf of U.A.E.
    [Show full text]
  • NMC Health Plc Annual Report and Accounts 2018 NMC Health Is the Leading Private Healthcare Operator in the GCC with International Services Across 19 Countries
    NMC Health plc Annual ReportNMC Health 2018 and Accounts Continuing our strategic growth journey NMC Health plc Annual Report and Accounts 2018 NMC Health is the leading private healthcare operator in the GCC with international services across 19 countries. NMC believes in providing healthcare to all segments of society while upholding the highest ethical medical practices. Our patients are assured of receiving the highest standards of quality at affordable prices. Healthcare is not simply about detecting, diagnosing, informing or treating an individual, but it is about helping people to lead a wholesome and healthy life. Read the annual report and much more on our website: www.nmchealth.com At a Glance Our Business NMC has created regional clusters to aid the process of centralisation of key services to benefit from our strong growth over the past few years. We operate two business lines, Healthcare and Product Distribution, which are divided into five business verticals as indicated below: Healthcare Where we operate NMC has created regional clusters to aid the process of centralisation of key services to benefit from our strong growth over the past few years. Multi-specialty Maternity & Fertility Spain USA Long-term & Home Care Colombia Brazil Operations & Management Product Distribution Own and Operation & Management Own Operation & Management Products & Consumables Sweden Denmark UK Latvia Slovakia Italy Jordan Kuwait Egypt United Arab Emirates Saudi Arabia Yemen Oman Kenya Seychelles Group Strategic Financial Other Overview Report Governance Statements Information NMC focuses on underserved medical services and geographies within the countries it operates in and will continue to utilise organic and inorganic growth strategies to address these opportunities.
    [Show full text]
  • NMC Healthcare
    Proposed acquisition of the Al Zahra Hospital in Sharjah December, 2016 R = 000 R = 122 G = 110 G = 140 B = 155 B = 147 Important notice R = 000 R = 236 G = 129 G = 034 THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ITS TERRITORIES OR POSSESSIONS, OR TO ANY RESIDENT THEREOF (OTHER THAN TO QUALIFIED INSTITUTIONAL BUYERS (“QIBS”) WITHIN THE MEANING OF RULE 144A UNDER THE US B = 179 B = 045 SECURITIES ACT (AS DEFINED BELOW)), AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. By attending the meeting where this confidential management presentation is made, or by reading this presentation or by accepting delivery of this presentation, you agree to be bound by the following limitations. This presentation has been prepared by NMC Health plc (the “Company”) and comprises the slides for a presentation concerning the proposed acquisition of the entire share capital of Al Zahra (Pvt.) Hospital Company Limited (the “Target”), and certain land and buildings currently used by the Al Zahra Hospital, from Gulf Medical Projects Company(“GMPC”)(the “Acquisition”). R = 000 This presentation is not an offer of securities for sale in the United States. The securities to which these materials relate have not been and are not intended to be registered under the US Securities Act of 1933, as amended (the G = 143 “Securities Act”) and may not be offered or sold in the United States absent registration except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
    [Show full text]
  • Adgmcfi-2020-020---Nmc-Healthcare
    In the name of His Highness Sheikh Khalifa bin Zayed Al Nahyan President of the United Arab Emirates/ Ruler of the Emirate of Abu Dhabi COURT OF FIRST INSTANCE COMMERCIAL AND CIVIL DIVISION In the matter of the Insolvency Regulations 2015 IN THE MATTER OF NMC HEALTHCARE LTD AND THE COMPANIES LISTED IN SCHEDULE 1 NMC HEALTHCARE LTD AND THE COMPANIES LISTED IN SCHEDULE 1 Applicants / Companies JUDGMENT OF JUSTICE SIR ANDREW SMITH Neutral Citation: [2020] ADGMCFI 0008 Before: Justice Sir Andrew Smith Decision Date: 27 September 2020 Decision: On the application made pursuant to section 8 of the Insolvency Regulations 2015 for an order placing the Companies into administration, see Annex A to this Judgment. On the application made pursuant to section 109A (2) of the Insolvency Regulations 2015, see Annex B to this Judgment. Hearing Date(s): 27 and 30 September 2020 Date of Orders: 27 September 2020 Catchwords: Company administration order; balance sheet insolvency; cashflow insolvency; reasonable likelihood of company administration achieving its purpose; priority funding application; notification to creditors. Legislation Cited: Commercial Licensing Regulations 2015 Insolvency Regulations 2015 Companies Regulations 2015 Companies Regulations 2020 Cases Cited: Re Atlantic Computer Systems PLC, [1992] Ch.505 BLV Realty Organization Limited v Batten, [2009] EWHC 2994 (Ch) BNV Limited v Eurosail PLC, [2013] UKSC 28 Bucci v Carman, [2014] EWCA Civ. 383 Harms Offshore etc GmbH v Bloom, [2009] EWCA Civ. 632 Re European Directories BV, [2010] EWHC 3472 (Ch) Re Design Studio Group Limited, [2020] SGHC 148 Case Number: ADGMCFI-2020-020 Parties and representation: NMC Healthcare LTD and the companies listed in Schedule 1 Applicants/ Companies JUDGMENT 1.
    [Show full text]
  • Our Insights Into Healthcare Industry Trends
    Our Insights Into Healthcare Industry Trends 2019 Table of Contents P. 01 I The Midterm Elections and Their Implications for Healthcare Policy. P. 20 I Healthcare Remains an Enforcement Priority of the Antitrust Agencies With Democrats obtaining control of the House in the 2018 midterm elections, in the Trump Administration. Antitrust scrutiny in the healthcare industry is not 01 Republicans growing their Senate majority, and a United States District Court 06 new, but recent publications by governmental oversight agencies indicate that recently declaring the Affordable Care Act unconstitutional in its entirety, the healthcare sector remains an area of concern. Besides traditional “horizontal” healthcare has already taken center stage in 2019. And with rising healthcare mergers between direct hospital competitors, other types of mergers, such as costs continuing to be a top priority on both sides of the aisle, it remains to be seen those between hospitals and physicians and vertical arrangements, are on the rise, whether the divided government will make the move to bipartisan compromise on a and both types of mergers attract antitrust scrutiny. topic of great importance to many. P. 22 I As Reimbursement Policies Shift, Providers Must Remain Vigilant P. 04 I The Convergence of Enforcement and Compliance: Important Insights and Engaged. From reshaping state Medicaid coverage and reimbursement and Opportunities. The trend toward increased government enforcement and 07 concepts to cutting the red tape and putting “patients over paperwork” to whistleblower activity shows no signs of stopping, and the universe of persons 02 reduce burdensome documentation requirements and Medicare regulations, evaluating organizational conduct and compliance continues to grow.
    [Show full text]
  • Dr. B. R. Shetty Donates INR 4 Crores for the Welfare Efforts of the Kerala-Flood-Affected Victims
    Dr. B. R. Shetty donates INR 4 Crores for the welfare efforts of the Kerala-flood-affected victims Thiruvananthapuram, 22 August 2018: Dr. Bavaguthu Raghuram Shetty, Founder Finablr Group, and Chairman of Unimoni, UAE Exchange and NMC Healthcare met with Shri Pinarayi Vijayan, Honourable Chief Minister of Kerala, at Thiruvananthapuram today and handed over a cheque of INR 4 Crores in support of the ongoing relief and rehabilitation efforts in the aftermath of the devastating floods that has affected the state. He was accompanied by Promoth Manghat, Group CEO and Executive Director of Finablr, Prasanth Manghat, CEO and Executive Director of NMC Healthcare, and Amit Saxena, MD & CEO of Unimoni India, on the occasion. “Despite the catastrophic event, the resilience shown by the people of Kerala is commendable. The rehabilitation of the nearly million displaced is a critical priority and we must all join hands to support this noble cause. The losses suffered by the people is unimaginable and I will be glad if my humble contributions can make a positive difference in rebuilding their lives. We will continue to extend our full-fledged support to government initiatives that will help in rebuilding God’s own country,” said Dr. B.R. Shetty Besides his contribution of INR 4 Crores to the Kerala Chief Minister’s Distress Relief Fund, Dr. Shetty has further contributed INR 9.5 Crores to the Khalifa bin Zayed Al Nahyan Foundation, which is facilitating the provisioning of relief support from the UAE. Additionally, Unimoni and UAE Exchange, alongside with NMC Healthcare, have been actively assisting the ongoing relief and rehabilitation efforts in Kerala through multiple initiatives.
    [Show full text]
  • FTSE 100 Historic Additions and Deletions
    FTSE 100 Historic Additions and Deletions ftserussell.com An LSEG Business September 2021 FTSE 100 – Historic Additions and Deletions Date Added Deleted Notes 19-Jan-84 Charterhouse J Rothschild Eagle Star Corporate Event - Acquisition of Eagle Star by BAT Industries 02-Apr-84 Lonrho Magnet & Southerns 02-Jul-84 Reuters Edinburgh Investment Trust 02-Jul-84 Woolworths Barratt Development 19-Jul-84 Enterprise Oil Bowater Corporation Corporate Event - Sub division of company into Bowater Inds and Bowater Inc 01-Oct-84 Willis Faber Wimpey (George) & Co 01-Oct-84 Granada Group Scottish & Newcastle Breweries 01-Oct-84 Dowty Group MFI Furniture Corporate Event - Acquisition of MFI Furniture by Associated Dairies Group 04-Dec-84 British Telecom Johnson Matthey Fast Entry 02-Jan-85 Dee Corporation Dowty Group 02-Jan-85 Argyll Group Berisford (S & W) 02-Jan-85 MFI Furniture RMC Group 02-Jan-85 Dixons Group Dalgety 01-Feb-85 Jaguar Hambro Life Corporate Event - Acquisition of Hambro Life by BAT Industries 01-Apr-85 Guinness (Arthur) & Son Enterprise Oil 01-Apr-85 Smith Industries House of Fraser Corporate Event - Acquisition of House of Fraser by Alfayed Investment Trust 01-Apr-85 Ranks Hovis McDougall MFI Furniture Corporate Event - Acquisition of MFI Furniture by Associated Dairies Group 01-Jul-85 Abbey Life Ranks Hovis McDougall 01-Jul-85 Debenhams Imperial Continental Gas Ass. 06-Aug-85 Bank of Scotland Debenhams 01-Oct-85 Habitat Mothercare Lonrho 02-Jan-86 Scottish & Newcastle Rothschild (J) Holdings 08-Jan-86 Storehouse Habitat Mothercare
    [Show full text]