Trading in the shares of scandal-hit NMC Health, the UAE’s largest for-profit healthcare provider, has been suspended. The move follows hot on the heels of the removal of the CEO, and the discovery of unauthorised off-balance sheet financing.
In an announcement put out after trading, the independent review board appointed by NMC has identified side deals on procurement worth US$335m with the founders for which NMC is liable and that were made without board approval. It has also removed Mr Prasanth Manghat from his position of Director and CEO of the Company with immediate effect.
Hospitals and insurers have been looking for consolidated digital health platforms ever since they grew tired of 'pilotitus' from a fragmented market. But what if they could become a central administrator to an "ecosystem" where thousands of start-ups become third-party plug-ins? Biesdorf is convinced that this is about to happen in Germany.
German hospital operator Rhoen Klinikum 2019 sales grew three times faster than the previous year, but EBITDA was flat and is expected to fall substantially in 2020. Its move to outpatient is helping the top-line. HBI considers these results and board-level developments expected later this year.
Healthcare property investor Octopus Real Estate is betting big on UK retirement villages, investing £400m in a joint venture with operator Audley and asset manager Schroders to build 500 apartments across four UK locations. CEO Benjamin Davis tells HBI why he sees such large opportunity in this growing sub-sector.
Occupational healthcare groups Medicover and Terveystalo are growing revenue at upwards of 25%, much faster than the 6-9% seen in other publicly listed groups so far this year. Historically employer-funded, individual pay is now growing three times faster than corporate. With Fresenius Helios setting out occupational healthcare expansion plans, what is the future of corporate pay?
Listed dialysis, pharma and hospital group Fresenius has seen a 6% jump in its share price after 2019 results were better than some analysts expected. But with significant Asia exposure in certain businesses, CEO Stephan Sturm says: "Coronavirus is not going to be a positive for us."