CEO and Executive Director
Prasanth Manghat is the Chief Executive Officer and Executive Director of NMC Health, UAE’s largest private healthcare company and amongst the top three fertility providers in the world.
During the last fourteen years, Prasanth has successfully served in key roles within the NMC related businesses and those include the roles of the Deputy CEO, CFO at NMC Healthcare and CFO at Neopharma. The responsibility as the Deputy CEO came as the defining moment in his career and the same lasted for about two years. As he served as the Chief Financial Officer of NMC Health, for five years, his primary responsibility was towards managing the company’s finance function including treasury, corporate finance and accounting. As an astute strategist, he spearheaded NMC’s book building process during its IPO in 2012 and raised USD 187.5 million in a record time of less than 100 days of initiating the process.
Recognising his abilities and contributions to the organisation, Prasanth was promoted to the role of Deputy Chief Executive Officer of NMC in January 2015. Prasanth’s elevation marked the launch of NMC’s growth strategy that encompassed capacity creation and capability building to expand into wider and more complex segments of healthcare delivery. Under Prasanth’s leadership, NMC has taken the inorganic route, acquiring niche healthcare companies such as ProVita International Medical Center (Long Term Care), Americare Home Health Services and Fakih IVF Fertility Center leading to exponential growth over a short period.
Prasanth’s tenure also marks NMC’s first foray outside the UAE with the acquisition of Clinica Eugin, a leading provider of infertility treatment, based in Spain and Colombia. Subsequently, Prasanth has been steadily expanding the Eugin business to cover key markets of Italy, Denmark and Brazil. After Prasanth’s appointment as Deputy Chief Executive Officer, the growth curve has been steeper with market capitalisation increasing by almost 100% year on year currently crossing USD 7 billion, leading NMC to be a part of the most coveted index of the LSE, the FTSE 100 index.
Prasanth has also worked towards taking quality healthcare closer to the people of UAE, increasing NMC’s geographical footprint in UAE through the amalgamation of Sunny Medical Center branded network of centers in Sharjah and most recently, acquisition of one of the largest hospitals in UAE, the Al Zahra Hospital in Sharjah for USD 560 million.
NMC’s distribution services division is one of the largest in UAE in terms of its diverse product portfolio of 100,000 SKUs. Products are imported from over 90 countries around the world and distributed to over 7,500 points of sale in the UAE.
Awards & Recognitions:
Prasanth has been acknowledged and recognized at many a business, public and social forums, listing a few as under:
- Featured by the editorial team of Arabian Business in the 50 most powerful Indians in UAE.
- Brand Leadership Award-2016 in recognition to his continuing commitment to excellence and leading NMC to become an international brand.
- Golden Achievement Award-2016 for his resounding success in the world of business.
- “Deal Maker of the Year” at the 10th CFO Strategies Forum MENA held by Naseba in 2016.
- “Professional Excellence Award in the Healthcare Sector” by ICAI UAE (Dubai) Chapter in May 2013.
- “Excellence in Finance” by the Institute of Chartered Accountants of India, Abu Dhabi Chapter in November 2012.
- “CFO of the Year” by ICAEW, Middle-East, after leading NMC through its IPO in 2012.