Before joining NMC as Chief Operating Officer, he was holding a top positon at TVM Healthcare, a private equity fund that specializes in healthcare-related businesses. According to a doctor at a clinic affiliated with NMC group, most of the staff at partner/affiliated clinics and hospitals have received their cheques, but it is at the directly-owned facilities the delays has happened. Deals with lender banks can give healthcare operator some much needed time. ...more, Medics welcome arrival of second vaccine He doesn't even have a CFO to call on... the incumbent, Prashanth Shenoy, has been asked to extend his leave. “If Davis can make a swift move to reassure staff that their interests will be taken care of, NMC should not have an issue,” said a top official at another UAE-based hotel operator. NMC Health is the largest private healthcare provider in the UAE, operating more than 200 facilities including hospitals, clinics and pharmacies. Shetty's wife. NMC's principal shareholders - Dr. B.R. “In the last 7 days, he’s been working 16 hours a day… trying to save the company.”. NMC Healthcare shares were at 1816 pence on the LSE when I published my article in the Gulf and UK financial press on 30 December 2019. 1 Min Read. Abraaj and Drake & Scull issues have caused ripples… but they were confined to within their sectors. ... MEDIA-Abu Dhabi based NMC Health's trading arm sees major job cuts - Gulf News… Coming under ADGM Court's jurisdiction is a defining moment in NMC Health's future revival plans. Also, NMC has been having some of the best salary and compensation packages for its top talent. These aren’t the only considerations. Dubai: NMC Health continues to keep its shareholders on edge with doubts now forming over promoters’ actual controlling stakes. If the banks agree – and the chances are they will – to not press on payment obligations, NMC will achieve an “immediate stabilization of the group’s financing”. Dubai: Michael Davis is having a busy first week as the new (interim) CEO of NMC Health, the UAE’s largest hospital operator and now facing the fight of its life to nurse itself back into financial health. The leading healthcare brand expressed its commitment and solidarity with the vision of country’s rulers by aligning its celebratory theme with the tenants of the Year of Giving. For more information on our use of cookies, please review our cookie policy, MOH Application No - SJ10780 - 03/03/2021, Aesthetic, Reconstructive and Plastic Surgery, Endocrinology, Diabetology and Metabolic Disorders. NMC will be shedding all non-core assets and refocus on being a UAE healthcare business. Davis is uniquely placed to oversee the high stakes negotiations with lenders and other stakeholders. Medics in Dubai welcomed t...more, Public response to the Chinese Covid-19 jab likely to spike in the com...more, NMC will be shedding all non-core assets and refocus on being a UAE he...more, The introduction of the Covid vaccine in the UAE shows a ray of light ...more, Residents upbeat as they take the jab. As we reported earlier, NMC Health has had a mixed day with news of a possible takeover and the departure of its founder. NMC’s administrator, Alvarez & Marsal Inc., says the group’s hospitals are operating as normal, though a company executive warned that placing NMC in … NMC Healthcare is the largest private healthcare company in the UAE and ranks amongst the leading fertility service providers in the world. It’s now the biggest private health-care provider in the United Arab Emirates. Selling off some of these and retaining the core could help with some of the debt clearance. Both on your website and other media. Add this topic to your myFT Digest for news straight to your inbox. Add to myFT Digest. What are the benefits of loyalty programs? Will banks be willing to cough up another $250m to smoothen NMC's turnaround? NMC Healthcare is a multispecialty hospital in Muscat, Oman. Image Credit: Gulf News Archive Dubai: The UAE’s biggest private healthcare operator NMC is showing signs of a clear revival, with revenues now back to pre-COVID-19 levels. “The CEO is a “people’s person” – employees can see him as being completely transparent in his dealings with them,” said an official who knows him well. There was a steady flow of UAE residents, including teenagers and senior citizens, at the medical facilities in Abu Dhabi on Wednesday, who queued up to take the first dose of the Sinopharm vaccine against the novel coronavirus disease (Covid-19) outbreak. Employees and revenue of $ 1.6bn negotiations with lenders and other stakeholders consent to this the.... 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