Abu Dhabi’s NMC Health secures $250mln bank funding – ZAWYA

Abu Dhabi’s NMC Health secures $250mln bank funding – ZAWYA

Abu Dhabi's NMC Health secures $250mln bank funding NMC Health comes up with three-year business plan with a focused strategy that will deliver continued growth in its core UAE business    General view of NMC specialty hospital in Abu Dhabi, United Arab Emirates, February 11, 2020. Image for illustrative purposes.NMC Health, an Abu Dhabi-based hospital chain, has secured a $250-million financing facility, conditional on a planned second-phase restructuring that would help the group to continue its operations, according to a statement by its administrators from Alvarez & Marsal.The funding agreed by NMC LLC's leading lenders in the UAE will provide the financial security for the business and will ensure that it can provide healthcare for patients and stability for staff and suppliers.This will be provided as the hospital operator "enters a second-phase restructuring“. The funds have been provided "contingent on certain conditions, which the Group are close to completing," the statement added.The funding agreed by NMC LLC's leading lenders in the UAE will provide the financial security for the business and will ensure that it can provide healthcare for patients and stability for staff and suppliers.This will be provided as the hospital operator "enters a second-phase restructuring“. The funds have