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FINANCIAL NEWS
UAE’s NMC Health to expand businesses in Saudi, Qatar
21 Jul 2015
(MENAFN) NMC Health, the UAE-based healthcare company, is set to expand its businesses in Saudi Arabia and Qatar partially through the USD325 million allocations for investments and acquisitions, Reuters reported.
NMC had previously secured a loan facility from banks of around USD825 million to repay existing debts and finance its planned acquisitions; thus far, USD350 million has been utilized to refund debt and USD150 million for acquisitions.
“We are awaiting approvals for investments in the healthcare sectors of Saudi and Qatar that could happen soon. We have two years to use the remaining facility of $325 million and a lot of assets are available,” an official stated.
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