The UAE-based healthcare provider NMC Health has reported a net profit of $77.5m for full year 2014, marking an increase of 12.1 per cent on the previous year.

Revenues have increased by 16.9 per cent in 2014 to reach $643.9m.

The company increased its capital expenditure by 8 per cent on the previous year, with spending reaching $112.3m.

Debt levels also rose last year by 77.3 per cent on 2013, reaching $113m as the group pushes forward with new healthcare projects.

The firm did raise a new debt facility via a number of banks in mid-February for $825m, which the company has said will replace some existing loans and reduce the company’s overall cost of debt.

NMC increased its bed capacity in 2014 by 55 per cent by opening new hospitals, including the NMC General Hospital in Dubai Investment Park.

It now has three hospitals and a day surgery in Dubai.

It also opened the Royal Women’s Hospital in Abu Dhabi and the NMC Medical Centre in Al-Ain.