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ENCORE CAPITAL GROUP, INC.

(ECPG)
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Encore Capital : MCM India Supports Their Colleagues, Families and Community During COVID-19 Outbreak

06/10/2021 | 12:32am EDT

In March, a massive outbreak of COVID-19 tragically began advancing across India. The country's hospitals and medical resources were stretched to their limits, with many patients struggling to get access to effective treatment protocols, critical medicines, hospital beds and even oxygen.

Midland Credit Management (MCM), an Encore Capital Group company, has 2,300 dedicated colleagues in India. As they experienced the crisis unfolding around them, the MCM India team got to work to support their colleagues, families and community.

To provide immediate support, MCM opened its office in Gurugram, just outside of New Delhi, to host a drive-in testing facility for employees and members of the local community.

The MCM team in India also launched a COVID-19 Employee Assistance Center, which provides employees and their dependents with critical medicines, oxygen support and information to find resources such as available intensive care hospital beds. Additional support, such as access to online video consultations with doctors and webinars hosted by COVID-19 experts, were also provided. The company is also accepting employee volunteers to create a group of plasma donors.

Earlier in the pandemic, to support community health, MCM donated INR 50 lakhs ($69,000 USD) to the Haryana Corona Relief Fund, which helped the state's efforts to control the disease. The company also provided hand sanitizers and face masks for local law enforcement personnel and sanitation supplies for children in need.

'I'm happy to share that with our COVID-19 Employee Assistance Center, and other support offerings, we've been able to help 160 employee families to date,' said Jaison Thomas, Managing Director of Midland Credit Management in India. 'We also introduced a monetary incentive that employees can receive after getting their complete COVID-19 vaccination.'

The company also enhanced its insurance offerings to cover medical expenses associated with home COVID-19 treatment. It also increased its wellness offerings - from providing coaching on empathetic conversations to organizing wellness and mindfulness workshops for employees and their families - and brought on a psychologist to provide one-on-one counseling in addition to the 24/7 employee counseling helpline.

MCM team members from around the world have been closely following the situation facing their colleagues in India and are uniting to offer support in a variety of ways. For example, MCM introduced a leave donation initiative where colleagues from other countries can donate to create a shared pool from which employees impacted by COVID-19 can extend their time on leave.

'The physical and mental wellbeing of our employees, and their families, are critically important to us,' Thomas said. 'We will continue to do our part by engaging with our immediate community for more relief efforts. It's wonderful to see so many of our colleagues coming together to actively live out our three core values (We care, We find a better way, and We are inclusive and collaborative). My thoughts continue to be with anyone battling this pandemic, and we extend our sincere gratitude to our front-line workers and the entire healthcare industry.'

Disclaimer

Encore Capital Group Inc. published this content on 09 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2021 04:31:01 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 1 536 M - -
Net income 2021 284 M - -
Net Debt 2021 - - -
P/E ratio 2021 5,23x
Yield 2021 -
Capitalization 1 473 M 1 473 M -
Capi. / Sales 2021 0,96x
Capi. / Sales 2022 0,98x
Nbr of Employees 7 725
Free-Float 95,3%
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Number of Analysts 6
Average target price 54,75 $
Last Close Price 47,49 $
Spread / Highest target 36,9%
Spread / Average Target 15,3%
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NameTitle
Ashish Masih President, Chief Executive Officer & Director
Jonathan Crawford Clark Chief Financial Officer, Treasurer & Executive VP
Michael P. Monaco Non-Executive Chairman
Monique Dumais-Chrisope Chief Information Officer & Senior Vice President
Gregory Lawrence Call Secretary, CAO, Executive VP & General Counsel