NMC Health administrators are considering the sale of the company’s international fertility business, Reuters reports.
The administrators of NMC Health are weighing up the sale of the hospital operator’s international fertility business which could be worth more than $500 million dollars which was confirmed on Wednesday (24 June).
Administrators were appointed from Alvarez & Marsal in April to oversee NMC and its finances after the big scale fraud of over $6 billion dollars.
There has already been talks with banks about the possible sale ahead of a formal launch of the process of the sale. However, sources have revealed that the fertility business is not up for sale in the UAE.
NMC had bought a stake in Clinica Eugin - a Spanish based fertility business - in 2015 for over $161 million dollars. Clinica Eugin also has operators in Italy, Portugal, Sweden, Brazil and Columbia.
The fertility business is said to be earning between $70-90 million dollars and this is before interest, taxes, depreciation and amortisation.
The potential sale is being considered because IVF is a growth business for investors. The market for global IVF is expected to be around $37 billion dollars by 2027 - an annual growth rate of 9.5%.
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