Interim CEO of NMC Health Michael Davis is set to get started on the debt and paying salaries as the company tries to get back into financial health.
The UAE’s largest hospital operator is currently fighting for its life as it tries to get back to financial stability. NMC Health has confirmed that it will be asking lender banks to “go easy” on debt repayments owed to them - which is expected to be around $2 billion.
By doing this, and if the banks agree to the plea, it will buy the company more time to sort things out.
The weight of the debts will be heavy and the future of the company will rely on someone buying the company with deep pockets.
You can read, in more detail, here about the downfall of NMC.
However, before this, they need to pay off staff salaries which are usually paid by the 25th of every month Salaries from February are yet to be credited to staff accounts - NMC employs more than 16,000 staff in the UAE.
According to a doctor affiliated with the group, most of the staff have been given their cheques, but it is at the directly-owned facilities that delays have happened.
It has been reported that NMC have not lost their highly skilled physicians, nurses or technical staff. Where the massive departure of people is happening is at the middle and senior management levels.
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