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Billions set to be written off as creditors take charge of NMC

NMC's creditors are now in the driving seat, after a take-it-or-leave it ultimatum from joint administrators Alvarez and Marsal left them with little option other than to accept a financial restructuring plan which wipes out billions of dollars owed to them, in return for ownership of the business.
June 7, 2021

$4.2bn Babylon to go public at 11-13x revenue multiple

Global digital health platform Babylon Health will IPO through a $4.2bn merger with SPAC Alkuri Acquisition Corp. The deal gives it a 13x revenue multiple of the $4.2bn equity value and 11x a $3.6bn enterprise value. The move comes as Europe's players increasingly look to the States as a more scalable market. Despite just launching there last year, 70% of Babylon's revenues now come from the States.
June 3, 2021

Life Healthcare entering South African imaging market

South African hospital and European imaging group Life Healthcare is planning to enter the imaging market on home turf, with up to 3bn Rand (€180m) earmarked for buying out radiology practices in its hospitals, its head of Investor Relations (IR) tells HBI.
June 3, 2021

Market welcomes strong Q4 for Max, despite Covid-related revenue drop in FY21

The market welcomed a strong Q4 performance from India's second-largest for-profit hospital chain by revenue, Max Healthcare, last week. Record-breaking Q4 EBITDA appears to have offset any potential market concerns that could have arisen from reporting a drop in revenue, and a resurgence of COVID, especially around the capital.
June 3, 2021

Kuwait International Bank cuts its losses, sells NMC debt

Kuwait International Bank is selling off the debt it is owed by NMC Health, the UAE's largest hospital group which remains in administration following a fall from grace precipitated by short-seller Muddy Waters' report back in 2019.
June 3, 2021

0.02% of German prescriptions are apps

HBI hears the first eight months of Germany's digital app reimbursement is viewed as "modestly positive", with statutory insurer AOK saying that it has prescribed 4,700 apps under the framework.
June 3, 2021

Palamon pushes Bridgepoint off IDH/mydentist sale

Palamon Capital, the minority shareholder of dental group IDH/mydentist has bought majority control from Carlyle. Bridgepoint had earlier bought the group for £700m but Palamon has now exercised a right of first offer to push it out of the sale. 
May 28, 2021
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