New Medical Centre (NMC), one of Abu Dhabi's oldest healthcare companies, has managed to refinance most of its debt of about Dh475 million (US$129.3m) after having a "crisis" last year, its top executive says.
The company announced at the weekend a surprise $1.2 billion sale of a 40 per cent stake to Centurion Investment that NMC will use to go on an acquisition spree of hospitals in the region and build new facilities across the Emirates. The deal values the company at $3bn.
Dr BR Shetty, the chief executive of NMC, said the new deal - struck in just 10 days - was a "big moment" that came after a tough period in the company's history.
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