United Arab Emirates

 

NMC to exit administration

NMC Health's creditors have formally approved a deal that will allow its 34 companies to exit administration. 
September 1, 2021

Interview: Dr Mohamad Hamade, CEO, Amanat Holdings

Dubai-based investment firm Amanat Holdings has managed to almost double its share price over the past 18 months. CEO Dr. Mohamad Hamade shares the secrets behind this success with HBI and talks strategy as the group develops what he calls MENA's first post-acute care platform.
August 19, 2021

From the brink of collapse, NMC shows signs of recovery

GCC’s largest for-profit healthcare operator NMC Healthcare has been hitting the headlines for all the wrong reasons for the last 18 months, but with stronger H1 results than expected announced today, and progress on exiting administration, there are signs that it may be turning a corner.
August 11, 2021

NMC founder alleges multi-billion dollar fraud

BR Shetty, founder of the GCC’s largest for-profit healthcare operator NMC Healthcare, has issued legal proceedings seeking $8bn in damages, claiming audit firm EY, Bank of Baroda, and Netherlands-based Credit Europe Bank were part of a co-ordinated and deliberate conspiracy to remove money from his businesses.
August 5, 2021

GCC hospital markets at a crossroads

Change is afoot for private hospital operators in the GCC with mandatory insurance rollouts and private sector-friendly reforms offset by squeezed margins and an exodus of foreign nationals. More big US non-profits have followed in the footsteps of their peers Cleveland and Mayo and investors are pouring money into new developments in some markets - but steering well clear of others. Here is our round-up after several weeks interviewing local sources for HBI Intelligence. 
August 5, 2021

GCC hospital markets: not for the faint-hearted

The GCC's private hospital sector had a highly volatile second half of the 2010s despite being the target of huge foreign investments in the first. Public data shows huge fluctuations in annual growth in 2014-2019 across Bahrain, Qatar, Kuwait and Dubai, UAE.
July 29, 2021

Abu Dhabi signs Israeli MoUs for population health

Abu Dhabi will work with Israel's largest payor-provider Clalit and its largest hospital Sheba Medical Centre in two separate MoUs that promise to work on population health management, genome sequencing and digital health services.
July 15, 2021

Mubadala Health diversifies with $800m UEMedical deal

Mubadala Health, the integrated health network of sovereign investor Mubadala, has added speciality fertility and women's health services to its network and expanded into Saudi with the acquisition of UEMedical. It now claims to be the largest IVF provider in the region.
June 17, 2021

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
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