Abu Dhabi's NMC Health secures $250mln bank funding | ZAWYA MENA Edition:
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.
These conditions will be covered by the start of a second-phase restructuring and as NMC LLC begins delivery of a new three-year business plan.
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