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UAE's NMC Health deputy CEO to replace founder BR Shetty as CEO

Reuters - UK Focus

March 8 (Reuters) - United Arab Emirates-based healthcare provider NMC Health (LSE: NMC.L - news) has appointed deputy Chief (Taiwan OTC: 3345.TWO - news) Executive Prasanth Manghat as CEO, replacing BR Shetty, it said on Wednesday.

London-listed NMC Health, an integrated healthcare provider operating across the United Arab Emirates and some Gulf markets, said founder BR Shetty would be joint non-executive chairman of the company.

The company also reported a 38.6 percent rise in 2016 revenue to $1.22 billion, while net profit attributable to parent rose 61.4 percent to $132.7 million.

NMC (Brussels: BE0035966762.BR - news) 's shares were down 1.6 percent at 1764 pence at 0907 GMT.

(Reporting by Justin George Varghese; editing by Susan Thomas)