The emirate’s second-largest lender, has been “tied up” in restructuring talks and has been forced to write down the value of many of the loans, according to Bloomberg
NMC Health
Latest in NMC Health
Alvarez & Marsal Europe LLP
NMC Health exits KSA joint venture with the sale of its 53 percent stake in Saudi Medical Care Group
With the sale of its majority stake in SMCG, NMC has now divested all its non-core international assets, the company confirmed
Abraaj Capital
KPMG Lower Gulf sued for $600m over alleged sloppy auditing in Dubai’s Abraaj scandal
Allegations are the latest to hit one of the Big Four accountancy firms over poor auditing work
ADCB
ADCB sees creditors approval for NMC restructuring in first half
Bank recorded $450m in provisions and interest in suspense toward NMC, Finablr Plc and associated companies last year
Finablr
UAE-Israeli consortium to snap up troubled Finablr for $1
Affiliate of Prism Group and Abu Dhabi’s Royal Strategic Partners will pay the nominal consideration and provide working capital
Binay Shetty
Embattled billionaire BR Shetty, son Binay hire restructuring experts
Duff & Phelps says will support family efforts in dealing with financial liabilities related to exposures to NMC and Finablr debts
debt
NMC convertible bondholders tap PJT ahead of debt restructuring
PJT is advising a group of investors in NMC Health’s $360 million of convertible bonds due 2025
Bavaguthu Raghuram Shetty
$1.9bn wiped off NMC Health value as shares slump after report
NMC Health shares tumble the most on record on Tuesday after hospital operator became the latest target of short seller Carson Block’s Muddy Waters
BR Shetty
BRS Group to open stem cell research company in Abu Dhabi
BRS Group founder and chairman BR Shetty said that plans for the stem cell research company will likely be finalised in October
London Stock Exchange
NMC Healthcare reveals plan for new Sharjah hospital
New 70-bed hospital is expected to start operations in Sharjah by the end of 2019
GCC healthcare
UAE healthcare operator NMC reports record net profits
NMC Health CEO Prasanth Manghat also announces strong start to 2019
General Organisation for Social Insurance
UAE healthcare firm inks deal to speed up Saudi expansion plan
NMC Health has announced the signing of definitive documents to form a joint venture in Saudi Arabia
Abu Dhabi
Abu Dhabi launches new council to improve healthcare standards
Department of Health Abu Dhabi forms Strategic Partnership Council with the aim of strengthening partnerships between public and private providers
Abdul Aziz Al Ghurair
Ruler of Ras Al Khaimah honoured at Arabian Business Achievement Awards
Eight Iraqi women received Arabian Business Achievement Awards in acknowledgement of their fighting spirit, their entrepreneurial spirit and their ability to pass on knowledge to others
Dubai Healthcare City
UAE’s NMC Healthcare upgrades 2018 revenue growth forecast
UAE healthcare firm says it expects to open new greenfield facilities, particularly in the UAE, in 2019
General Organisation for Social Insurance
NMC Healthcare signs agreement to establish Saudi hospital network
At its inception, the proposed JV between NMC and Hassana will become one of the largest private healthcare operators in the kingdom
Abu Dhabi
UAE’s NMC Health sees H1 revenues grow by 20%
CEO of healthcare firm NMC Health delivers upbeat message for UAE healthcare growth in 2019 and beyond
