NMC ‘wants to exit Saudi venture’

DUBAI: Administrators to NMC Health, the fraud-stricken UAE-based hospitals company, are looking for buyers of its Saudi Arabian business launched last year.

Alvarez & Marsal, the firm appointed to oversee the future of NMC assets following its collapse with a total of $6.6 billion of debts, told creditors in a recent presentation that the Saudi business and some other international operations were regarded as “non-core,” and that it was examining options to sell.