NMC Health promotes Manghat as CEO

NMC Health promotes Manghat as CEO

DUBAI, 8 hours, 32 minutes ago

NMC Health, a leading integrated healthcare provider operating across the UAE, has appointed its current deputy CEO and executive director Prasanth Manghat as chief executive officer, effective today (March 8).

Manghat, who has been an integral part of NMC Health for over 12 years and involved in all strategic execution and financial oversight of the business since listing on the London Stock Exchange (LSE), replaces outgoing founder, CEO and executive vice-chairman Dr B R Shetty.

Dr Shetty will take up a role as joint non-executive chairman of NMC Health alongside current chairman H J Mark Tompkins, with immediate effect. The promotion of Manghat was made following the recommendation of Dr B R Shetty, said a statement.

Under Dr Shetty’s leadership, NMC has grown from being a small pharmacy and diagnostic clinic in 1975, into an international network of hospitals in the UAE and Europe comprising 30 healthcare facilities across six countries, caring for 11,000 patients every day, and employing over 1,200 doctors, it said.

Manghat said: “I am honoured and excited to be appointed as the new CEO of NMC Health. I have had the privilege of working very closely with Dr Shetty for a number of years in relation to the planning and execution of strategy across all NMC’s divisions. Dr Shetty’s mentorship and guidance has fully prepared me for this new role and will ensure that there is a strong level of business continuity in place that will result in a continuity of strategy, which the business has been diligently executing since 2015.”

Dr Shetty said: “Prasanth is a brilliant colleague and has been a trusted member of the NMC Health team for over a decade. I am personally delighted to be handing over the reins to such an outstanding leader. NMC finds itself in a strong place and I felt this was the right time for me to step back from my day-to-day responsibilities in the company I founded over four decades ago. This change will allow me to focus on the strategic development of NMC and my other global business interests. I have no doubt that Prasanth is the best man to take the business forward.”

Tompkins added: “Prasanth is the obvious successor to Dr Shetty. He has contributed significantly to the strategy that was launched in 2015 and is well known by the industry and investment community. I have every confidence that NMC will continue to thrive under his leadership. I also welcome the appointment of Dr Shetty to the role of joint non-executive chairman of NMC Health. This role is a natural progression for him and I speak for the entire Board of Directors in welcoming his appointment. We believe that his wealth of experience, his deep knowledge of the business and his unrivalled contacts in the sector built over 40 years will be extremely valuable to us as we continue to grow the business and deliver shareholder value.” - TradeArabia News Service