NMC Health's new executive chair vows to recover misused funds

© Reuters.

DUBAI (Reuters) – The new executive chairman of hospital operator NMC Health (L:) vowed on Saturday to work with authorities in Britain and the United Arab Emirates to recover misused funds and called on the company’s creditors for a debt standstill.

Faisal Belhoul “calls for a temporary standstill from creditors to allow time to prepare and activate a recovery plan,” the company said in a statement.

London-listed NMC recently revised its debt position to $6.6 billion, much higher than earlier estimated.

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