'It’s time for the survival of the fittest'
Raghuram Shetty, whose group is the third-largest healthcare provider in the UAE, expects 40 per cent growth in 2007. The NMC Group, which was set up in 1975 with a clinic and a pharmacy, has business interests in various sectors. The group’s managing director and CEO is passionate about his work and business. Here he talks about his company’s move towards research and development and expansion plans.
How was 2007 for the company in terms of growth?
The year has been very good with the NMC recording another year of stable growth. There has been a 40 per cent overall growth for the group.
No. There were no shortcomings throughout the year, thanks to the transparent and extremely positive policies of the government. The company has been performing well and reporting profits without any trouble.
What prospects do you expect for the company in 2008?
The stable growth over the years and this year’s excellent performance shows a year of further progress in 2008. We see not only a prosperous 2008 but also the future looks promising. The company expects at least 50 per cent growth. I am not being very ambitious here and the target can be comfortably reached with good planning and vision.
What challenges do you see for the group in 2008 and how are you going to tackle them?
The market is opening up to more competition and requires better planning and implementation of plans and programmes. It’s time for the survival of the fittest. We have to be more innovative and productive in order to grow. We should aim for a vertical growth in order to survive and be able to overcome future challenges.
Can you tell us about the group’s profits and losses this year?
This year the business saw 40 per cent growth and next year we expect 50 per cent growth, which reflects the group’s overall performance. We are satisfied with the performance of the company.
What about future plans?
The group has plans to expand its healthcare programme. I’m not going to go into details, but expansion plans are there for sure. We have major plans to expand with a vision to develop a chain of hospitals and extend good networking throughout the Emirates. This is an era where service has to reach the customers. We should be able to reach people at large through more clinics, pharmacies, exchange outlets, etc. We must create new avenues to reach our customers.
Can you elaborate on the group’s new addition, Neopharma, the Emirate’s first and only pharmaceutical plant?
Neopharma plant was set up in Abu Dhabi’s Mussafah Industrial Area in 2003. Its product area covers the wide range of anti-infectives, anti-inflammatory and arthritis, cardiovascular, anti-diabetic, gastrointestinal protectives, and drugs for respiratory system, cough expectorants and multi-vitamin tonics. The plant is now well poised to enter the nutraceutical and OTC segments.
What are the other success stories of the group?
The group’s service in financial sector is a good example of success. After 27 years of its inception, the UAE Exchange today is a global player with direct presence in more than 17 countries with more than 350 direct offices worldwide.
Bavaguthu Raghuram Shetty
CEO of NMC Group
Bavaguthu Raghuram Shetty first stepped foot on the Arabian Peninsula when the UAE was a fledgling country. He saw potential and established the NMC Hospital in Abu Dhabi. The NMC Group, of which he is the founding partner, managing director and chief executive, is now the third-largest healthcare provider in
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