Creditors of NMC Health have approved its proposed deeds of company arrangement (DOCA) restructuring process, a move that allows 34 companies of the UAEs biggest healthcare provider to exit administration.
NMC secured approval for its restructuring proposal from 95 per cent of its creditors on Wednesday, the company said in a statement.
The companies that will exit the administration in Abu Dhabi will continue to operate the NMC Groups core businesses. NMC’s business has rebounded in the first half of this year as revenue beat expectations despite coronavirus headwinds. Gross revenue for the period for its UAE and Oman businesses reached $611 million, 10 per cent more than the company’s projections.
NMC Healthcare said it will transfe…
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